What does the natural relationship graph look like for your sector?
I remember fondly the business IT cycle I first sold into. We knew how often people were likely to review their current set-up. And how likely they were to then replace their existing supplier. Such maths certainly helped with forecasting.
In a world of on-premise to cloud, a longtime campaigner suggested to me recently that there’s a definite feeling picked up as the ‘virtualisation’ drive gathers up a majority:
For the first year you love your new supplier.
During the second year, you get frustrated with them.
And by the third year, you can’t wait to get rid of them.
Regardless of ‘rental’ length arrangements, I wondered how any potential vendors were diligently tracking this throughout their target market.
Timing is often everything.
As a vendor, if you uncover a similar cycle within your prospect, and can get in at the right time, when a natural break timing kicks in and incumbent renewal opens your door, you may well hold the strongest position to gain that next contract award.
The counter, if you are the supplier in jeopardy, is that if you manage the relationship properly, then this need never damage you.
Have you got your eyes on both of these in your realm?