The information technology Buying Cycle is based on a simple premise: Buyer's remorse often sets in as soon as you acquire technology. In other words, the Buying Cycle is a cycle because you're always looking for game-changing technologies, tweaking old ones, or looking to replace something.




Here is where you are constantly scanning to find developing technologies that could potentially transform your business and/or replace an existing product that is holding back your company. You track news, keep up on vendor health, and discover new players and products.



Once you target technologies that could have an impact, it’s time to take it a step further and do some homework. At this point, you're getting interested in acquiring a technology but still have work to do before you make a decision.



Once you decide that you want a new technology solution, it’s time to start evaluating and comparing vendors and products. This stage is all about reading product evaluations and learning what your peers have to say about working with various products and vendors.



Businesses need real returns on technology and the executives who make technology decisions need to convince the folks with the budget to make a move. This stage is about reading case studies and evaluating potential ROI.



Once you've purchased a technology, the process turns to making a smart implementation, getting your staff up to speed, and continually optimizing and updating to make the solution run like clockwork.

If you get frustrated in the Optimization phase (stage 5)-- either because a product didn't live up to expectations or it is no longer meeting all of your needs -- then you cycle back into the Discover phase where you start scanning for a new solution that could turn things around.

The Buying Cycle

Sunday, November 24, 2013

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