Buyer criteria versus… donuts?
It is said that every consumer has a secret checklist. It is one that is ambiguous, only known to them, and will be the ultimate tool in determining the odds of purchasing a product or service. Statistics further show that we check an average of 10.4 pieces of content before making a decision when buying online. With that in mind, it wasn’t more than a few months ago when NWT decided to poll our current customer base. Our intentions were simple and goals clearly defined.
We let the incentivized survey run for nearly a month and the data came rolling in; over 3,500 separate line items for our team to pour over. Questions were asked regarding manufacturing preferences, buying criteria, business demographics, and company budgets. We were also curious how Northwest Technologies stood against other contract metal manufacturers our customers have worked with.
If you were given the choices of price, lead time, accuracy, or relationship, which would you assume would be the top priority? If you guessed price, you have discerned incorrectly.
Right from the get-go, we observed an obvious trend in the deciding factors for placing an order for manufacturing. If you were given the choices of price, lead time, accuracy, or relationship, which would you assume would be the top priority? If you guessed price, you have discerned incorrectly. In fact, it didn’t even come in second place! Accuracy is what people are willing to pay for, right next to lead time. Surprising? This tells us that product line manufacturers do care about price, but are willing to pay a premium if that means getting an accurate order on time. This is encouraging to us because we work hard knowing that our customers expect nothing but the best from our manufacturing practices, and not just the people behind them.
What, then, do we make of the lowly Relationship category? For a company such as NWT who is so committed to making a difference in the community, it could be considered disheartening. But remember that buyers would rather see perfect parts pronto over getting hit with the “homie hookup.” I think this is universally true for any company in any industry and is vital for customer longevity. The stats are reassuring to us considering we further found that 94% of survey participants claimed we were rockstars when it came to Order Accuracy. Follow that with 96% for Filling Orders Completely, 100% for Timeliness of Delivery and 94% for Lead Time, it’s needless to say that we were happy. But by no means content.
But remember that buyers would rather see perfect parts pronto over getting hit with the “homie hookup.”
In my previous article, The problem the internet created, we’ve found that businesses experience growth by being the best while maintaining excellence. In order to embrace these factors for success, we’ve poured through every response, every statistic and trend, and are at a place now where we are implementing change where necessary and also recognizing the areas of sustainment we’re so proud to have in the spotlight.
So, next time you decide to bring donuts to a sales call, consider this: they’d probably rather get the goods they were promised rather than the ones in the box you're holding. But donuts certainly can’t hurt.