The way we buy has changed. Marketing and selling practices must adapt if a company is to survive.
Technology is both driving and facilitating massive change to the way we buy. Consequently, selling practices must adapt if a company is to survive.
It has never been easier for startups to disrupt markets. And it is easier than ever for people to find these new companies and buy from them, increasingly with little or no human interaction. Buyers now expect:
- Processes that focus on the buyer, not selling.
- Faster reaction to market conditions.
- Friction and unnecessary cost to be removed.
Companies that do not change will begin to lose market share as competitors, particularly new entrants, build businesses based upon these expectations.
Regardless of how fast change occurs, the new ground for competitive advantage is to be found in customer relationships. Increasingly this will not be face-to-face or even involve any human interaction.
The experts in this kind of relationship are probably not in your Sales teams but within your IT and Sales Operations teams. These professionals understand both the problems and the opportunities for change that technology can bring. Channelling this knowledge and embracing their ideas for new ways to be better will enable you to outperform the competition.
Organisations that are open to change, know that they have a window to gain market share from those that fail to adapt to new business conditions. Fewer realise that this need not mean huge capital investment.
Within such businesses, an increasing number of people are learning two persistent things their market opportunity requires. It needs them to:
- Offer greater flexibility around their products and services to better meet their customer needs - faster.
- Make it easier for their customers to buy from them.
To achieve this consistently the organisation needs to become more agile and nimble. Technological advances and specialist web applications that can be integrated faster and easier will help. Those in the know are using this to drive new ideas for sales process and performance gains - cost effectively. This is why IT and Sales Operations teams are increasingly influential in driving revenue growth and cost reductions.