It is a fact that technology and specifically the Internet have changed the way we buy and, therefore, the way we sell. Many B2B company sellers continue to sell as they did 50 years ago, and the consequence is the sales crisis. How can we adapt to this transformation to increase sales?
Technology has transformed the way you buy and also the way you sell
The seller's crisis
There is currently a huge crisis in sales and many companies only see the symptoms instead of understanding the underlying problem . The Internet has not only made retail companies feel threatened by e-commerce; the way of selling products that are not necessarily bought online (houses, cars or services) has changed.
Here are some statistics to help you understand the sales crisis:
Currently, 70% of the purchase decision process is completed before speaking to a salesperson . (The digital evolution in B2B Marketing)
Only 29% of buyers want to talk to a salesperson to learn more about the product, yet 62% will look that information up on the Internet. (HubSpot, 2016)
71% of companies have as their main challenge to close more sales opportunities (HubSpot, 2017)
The belief system of companies more than 30 years ago placed the seller at the center of the sales strategy, underestimating the process that sellers followed, since they possessed the information about the product or service and the buyer was the one who had to go to them.
The Internet has changed the rules of the game, as today it is the buyers who have information not only about your product, but also about your competitors, just a few clicks away.
How has the way we shop changed?
Before the Internet and online shopping, consumers went directly to stores to buy, relying on physical spaces and salespeople to obtain information about products and/or services, from features to prices. We were also limited to how many stores and salespeople we could visit in a given time. As buyers, we were at the mercy of the salespeople.
Today, the Internet has given purchasing power to the consumer , egypt phone number data now most of the information is within our reach and we can compare more products, more companies, but above all more ways to solve the same need.
Buyers now control the sales process
Has the Internet only influenced retail companies with e-commerce? - No!
The Internet has not only transformed transactional product companies with online shopping. Companies that sell products or services based on consideration purchasing processes (real estate , specialized services, B2B , among others) have also been influenced by technology and specifically the Internet, transforming how buyers and sellers relate.
Information is now more accessible to buyers just by having a smartphone with Internet. Therefore, a salesperson is no longer needed to initiate a sales process and many consumers only seek to interact with them to complete the purchase .
Prospects don't answer calls . Since they have control over the buying process, they decide when to interact. That's why it's important to have enough information about the buying stage they're in and consider the context in which they interact .
There are more people involved in the buying process . Before, the seller would talk to the buyer, share information, have a few more meetings, and the sale was done. Today, in addition to researching other products and companies related to their need, the buyer asks for references, other people do research, and give them more options. So there are micro influences throughout the buying process .