The buying journey has changed, and sellers must change with it. Sellers must address the gap between how people buy and how people sell. We must uncover why it matters that today’s buying journey has changed.
On today’s episode of The Sales Evangelist, we talk to Martyn Lewis, founder of Market Partners, about how today’s buying journey has drastically changed and why it matters to you.
Martyn is a seasoned veteran of the sales industry, and he founded Market Partners when he discovered that many sellers were selling their products and services according to the way buyers used to buy.
He’s an entrepreneur, and authority on business strategy. We’re talking about closing this month, and the buyer’s journey is an important part of that process.
Changing the buyers’ journey
Selling was much easier prior to the 1940s. People sold to each other and they had limited choices. Buyers knew what they wanted and they knew where to get it. Purchases were local.
Beginning in the 1940s, people had more choices. More people were involved in buying and more were involved in selling.
Communication, radio, television, fax changed the face of selling. They made the world smaller.
Buyers had the freedom to find sellers outside of their buying market. They could go to the next town or city or country to find something they needed.
Large companies saw the change coming and they introduced sales process.
Today, in the third generation of sales since then, buyers have an abundance of choice. They can Google and find all sorts of things.
They have countless alternatives and no shortage of things they can do, and probably too much information.
That means you’re not the only one who’s selling. You’re not the only one competing for your buyer’s attention.
Today’s buyers are very busy. Technology has caused a huge disruption for buyers.
Previous buying stages
Every buyer’s market is different but the macro journey looks like this:
In the first stages, buyers had to really connect with the companies they buy from. They sought information from salespeople and brochures and phone calls.
Today, though, buyers can find their information on the Internet. The first two stages of that buyer’s journey can now be done without talking to a salesperson.
Data suggests, too, that more than 50 percent of the buyer’s journey happens before the buyer ever talks to a salesperson.
Sellers have to go well beyond being a conduit of information for the buyers.
We have to discover what is on the buyer’s mind. We’ve got to manage the entire buying journey. So the role of the salesperson now isn’t to position and promote the product.
What does it take for an organization to commit to your product or service once they are truly interested?
Are they looking to test the equipment or are they simply window-shopping? They might worry about how to implement your product or service. Perhaps they’ll worry about training their people to use your goods.
Salespeople must manage that journey. Who all will be involved? What are their concerns and how do I handle them?
You’ve got to reduce that friction.
The days of the single decision-maker are over. Today’s buying journey has changed so that networks of dynamic people make buying decisions today.
Very often the buyers themselves aren’t even sure after the fact who made the decision to go with a certain product.
Sellers must always look at everyone who is involved in the process and manage all the key players. Don’t ever assume a champion will do all the work for you.
Recognize the difference between interest and commitment. Never think because you’ve got someone who is sincerely interested in your offering that they will automatically buy it.
Think outside in. Start with the customer and their world.
How many things are on the customer’s mind? Always start with their world?
“Today’s Buying Journey Has Changed” episode resources
Grab a copy of Martyn’s book, How Customers Buy and Why They Don’t.
Email Lewis at firstname.lastname@example.org. He loves hearing from people about the work they are doing and the projects they are working on.
This episode is also brought to you in part by prospect.io, a powerful sales automation platform that allows you to build highly personalized, cold email campaigns. To learn more, go to prospect.io/tse. It will help you with your outbound to expand your outreach. Your prospecting will never ever be the same.
This episode is also brought to you by Maximizer CRM. If you aren’t sure you have the right CRM, Maximizer CRM is a personalized CRM that gives you the confidence to improve your business and increase profits. Get rid of the boring CRMs and customize to your team’s selling abilities.
Click on the link to get a free demo of what Maximizer CRM can do for you. It integrates your marketing campaign as well as your CRM.
Leave us a review on Apple Podcast, Google Podcast, Stitcher, or wherever you consume this content, and share it with someone else who might benefit from our message. It helps others find our message and improves our visibility.
If you haven’t already done so, subscribe to the podcast so you won’t miss a single episode.