How has the sales process changed over time?
Let's face it, the sales process has changed a lot. Most of these major changes to the industry have happened only recently in the last 3-5 years. How has your business had to adapt in order to meet sales? Has your business been around long enough to live through these changes?
It has been changing since last15 years after introducing coputers huge application world wide. Many material are getting cheap coparatively with softwares. It s whole matter of globalization. Its impact something new way to practice business in logical way. Each time new strategies.Customers are more informative and taking lots of time to agree.
Before becoming a full-time developer, I was Sales Associate and Assistant Manager at Radio Shack and did pretty well back in the early 1990's. Got a plaque and everything.
We were basically trained to engage in "Consultative Selling" then use a set of strategies to "Overcome Objections".
Now, when I am being sold to, it feels like I am being conned.
For example, my mortgage servicer called and offered to refinance my house at 1/2% lower interest rate which would reduce my monthly payment by $90.00 per month, all at no cost to me, with no increase to my principal, no fees, no closing costs, etc. "Just to keep me as a customer".
I pointed out that this would be a very bad deal for me. I would be throwing away 10 years of interest payments and restarting the clock on my mortgage. Because of the way amortization works, the early payments primarily go toward interest with little reduction of principal.
He couldn't understand or just refused to acknowledge the math and I had to hang up.
Great question.And great answers. Customers nowadays are different than before in many ways:
- They are more informed. All info are on Google
- They are much more demanding
- They have high expectations: quality, delivery, after sales service
- They have tighter budgets
In my selling training I use the concept of "Change and Control". Simply people don't change unless they lose control, customers included. This paves the way to using the GAP model in selling. Understand where customers are, where they want to be and show them the gap. Then position you offer as the best bridge considering the above factors.
Consumer habits and attitudes certainly change and so too does technology but what doesn't change is human nature, it only evolves minimally. You adapt to changes in habits and attitudes and utilize technology but fundamentally understanding human nature is the key to sales now, then and always. One change I have added to the sales process I teach is not to limit the "pursuit of pain" to motivate sales. Today I teach a "3 Agreements" process that pursues pain or opportunity after mining for where the greater consequence. So technique changes but the art of listening, making the intellectual emotional and learning how to close is as old as the first good sold for the first coin.
Each business is indeed different, but there is absolutely no question that the sales process has changed over the last several years.
Ironically, one of my best videos was entitled "Everything You Think You Know About Generating Leads and Growing Your Business... Has Changed". It's an excellent piece, if I do say so myself, and can be viewed for free by going to this link: http://bit.ly/1PCw8pd
You'll be glad you watched it!
Traditional advertising, marketing and sales worked in a Push fashion. Blast the planet with ads and sic the dogs of war upon them. Massive ads, television, radio, newspapers, you name it. The mass message went out to everyone, and sales people were expected to hunt and gather.
Now, marketing and advertising are completely different. Rather than Push, we use an attraction method(s). The customer is clearly in charge, and they by and large perform their own research prior to even contacting the company they feel would serve them best.
Hi Grant, The sales process has changed dramatically in the last 5 year or so. In the B2B world most buyers are much more educated and informed thanks to the internet. Gone are the days when a smile and a pleasant personality were enough to make your number. These days to succeed you need to be very informed not just on your product or service but on the competitors offerings as well. You need industry knowledge and should have a deep understanding of your prospect or client's business. Without all those things you are just another person on the phone or knocking on their door. Todays's buyers are busy and time is a luxury you need to give them a compelling reason to want to speak or meet with you. This is just the first step.
I think it depends on strength of your business , credibility of your business in market , ability to face competitors , other wise you have to make some changes in order to suit market changes .
I can only answer from the "Big-ticket, B2B, complex sales" perspective.
So, okay, let's get this straight at the start. The sales process follows the customer's buying process. Therfore, the real question is "How has the buying process changed over time?" The answer has a couple of components. First, there is so much more information out there now that the prospect comes to you very well prepared with the facts. They may have the facts wrong, and frequently do. So, the sales process that used to be a lot about educating the prospect about our solution and the problems it solves has changed because the seller must now be the expert on how the product or service can help the prospect with their problem. It's pretty easy to understand the features and functions of a product but very difficult sometimes to understand just how those things go to solving the problem.
Equally important is that over the past 20-yrs the authority to buy has gone up the chain of command. In the mid-90s as a sales VP I had authority to spend $25k without asking anyone. That was a lot of money twenty years ago. In 2016, I don't know a lot of sales VPs who have that authority. Because of this, the buying process has gotten a lot more complex/