Remember the saying “nobody ever got fired for buying IBM?”
Choosing the least risky technology option was a mainstay throughout the last few decades, but it’s no longer the case. Big names hold less value than they once did owing to rapidly evolving technology, disruptive products and customers with unlimited access to information via the Internet. Welcome to the new age of the savvy, hyper-informed customer.
So, how does this impact the roles of today’s sales force and marketing department? A recent study by the Corporate Executive Board found that 60% of the buying process takes place before there is any real engagement with a sales representative. In the new era of sales, customer knowledge reigns supreme. With research and reviews only a click away, customers have become comfortable making decisions based on widely available information, and may have little time or desire to listen to a marketing or sales pitch.
Buyers will wield their knowledge so it’s marketers and sellers beware: Be prepared or lose to your competition. TapResearch data illustrates this trend in action, revealing that nearly 50 percent of sales professionals have been outsmarted by a customer during a sales meeting. What can your organization do?
Enjoy the rest of the blog on Wired Innovation and learn three best practices to engage the hyper-informed customer.