Earlier we posted a blog that explained what Ariba Spot Buy was. Today, we'll learn how you can use it to help drive more business. And getting started is easier than you think!

 

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How can Ariba Spot Buy benefit me?

Ariba Spot Buy offers exceptional value for sellers, enabling you to:

  • Gain new access to big business. While spot buys are typically more individual-type purchases, they represent huge sales volume overall, comprising about 42 percent of buying organizations’ total indirect spend[1]. Ariba Spot Buy gives you direct access to this vast sales pool. Moreover, the lack of good solutions has left buyers struggling to source this category efficiently—until now. Initial feedback indicates that Ariba Spot Buy is already helping to fill the gap.
  • Set the stage for later opportunities. Effectively meeting spot buy needs gives you a great way to showcase your company’s capabilities, increasing your chance of winning bigger projects down the road.
  • Get your foot in the door with large accounts. Ariba Spot Buy users include many Global 2000 and Fortune 500 companies, so participating makes your business visible to large companies that might otherwise be difficult or impossible to reach.
  • Connect up close and personal. The urgent nature of spot buys often requires closer, more immediate interaction between buyers and sellers, creating a unique opportunity for you to establish relationships that pay off over time.
  • Make final sales fast. Ariba Spot Buy users are willing to award business quickly if you meet the criteria, enabling you to shortcut lengthy sourcing and contract cycles and close sales fast.

 

How do I get started?

Ariba Spot Buy is integrated into all seller solutions, so you can receive the sales leads regardless of which solution(s) you use. To make sure you’re signed up, go to the Basic page on your Ariba cloud profile and check the box under Commodities that says “Notify me when business opportunities matching my commodities are published on Ariba Discovery.” Next, optimize your results by following these tips:

  1. 1. Make sure buyers can find you. The way you manage your Ariba cloud profile not only determines your chances of being found for spot buys, but also whether you win the business, so be sure to:
  • Complete your profile. Gaps in your profile cause credibility issues and make Ariba Spot Buy customers more likely to skip to the next seller. By providing all relevant information up front, you make it easier for them to quickly see that you have what they want.
  • Get your commodity right! Buyers in a hurry to procure a particular product or service may not take the time to list all possible commodity options for their needs, so choosing your commodity(ies) carefully is key. Follow these guidelines:
  • Select all commodities your business supplies, not just one or two
  • Drill down to the deepest commodity level
  • Monitor results and tweak your choices over time to optimize the quality and quantity of postings you receive
  • Include every territory you serve. Customers often prefer local sources of supply for spot buys, so listing all your locations can boost your chance of landing a deal.
  • Provide customized responses. A thorough, well-thought-out response demonstrates your professionalism and interest, increasing your viability as the seller of choice.
  1. 2. Know how to identify a spot buy. Carefully monitor the postings you receive so you can respond quickly and appropriately when spot buys come your way. There are two ways to identify spot buys:
  • Posting type: Ariba Spot Buy postings are RFQs, not RFIs—and the buyer typically expects you to submit a quote. To check posting type, click the Event Name link in your New Postings email digest, then view Posting Type in the top box. You can also log in to your Ariba account, click the Leads tab, then click the View Matched Leads button, which takes you to a list of your RFI/RFQ matches identified by posting type.
  • Short response timeframe: Ariba Spot Buy postings typically have a close date of three days or less from the time they are sent (versus 10 or more days for regular postings).

 

Where can I learn more?

For specific questions about Ariba Spot Buy, send an email to askspot@ariba.com. You can also hear a buyer and seller perspective by listening to the “Seizing the Spot Buy Opportunity” SlideShare from Ariba LIVE 2013, or check out this tip sheet on getting the best results through Ariba Discovery.


 


[1] “Using Technology to Streamline Tactical Sourcing,” Patrick Connaughton and Kurt Albertson, The Hackett Group, 29 April 2013