4 Tips to Help B-to-B Marketers Capitalize on the American Recovery and Reinvestment Act
By
John F. Hood
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- Schools are hesitant to spend because they don't want to create a funding cliff.
- Each federal agency responsible for disbursing funds must set forth guidance on what the funds can be used for, how long recipients have to obligate the funds, and how spending should be tracked and reported on.
- The exception is $19 billion designated for electronic health records. The Government Accountability Office estimates that spending on this project will continue through 2015.
- Just prior to the end of the fiscal year is prime selling time for B-to-B marketers, as institutions must use all of their budgets or risk losing funding in subsequent years. June 30, Sept. 30 and Dec. 31 are typical institutional fiscal year end dates.
3. The purchasing process at institutions makes it difficult to identify decision makers.
The upside-down nature of decision making at institutions makes life very difficult for marketers. Decision makers with whom marketers want relationships are often hidden behind the formality of institutional finance departments and purchase orders.
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