I ran across a post online recently from sales trainer Jeffrey Gitomer, who always seems to have a handle on how the world of sales is changing. And believe me, it’s changing.
Gitomer can say things that are shocking sometimes, but the truth is that I share a lot of his sentiments. The “customer”, as we identify him, has been laying low for the past 18 months, sorting through his stock market losses and wondering what to do next.
He’s been watching in disbelief as his 401k fell apart, his home lost value and his company dropped 30% of its workers.
Roger Daltrey once sang “We Won’t Get Fooled Again”, and I think the consumer of 2010 is singing the same song. Trust has been burned. The consumer is angry.
He (or she) is also (most likely) in worse shape financially than he was two years ago, and that means he’s coming back more cautiously, wiser, and he’s going to do his homework before signing on the dotted line. As he should.
Here’s Gitomer’s list of what the new consumer looks like, post economic meltdown:
• He's going to decide somewhat slower. He's been hesitating for more than a year.
• He's angry about the value of his home, and the value of his investments.
• He will not be doing business the same way it's been done before.
• He will not be advertising the same way he advertised before.
• He will not be buying a car the same way he did before.
• He will not be investing the same way he did before.
• He will not take your word for things anymore. He’ll need to see the proof, please.
• He's online. Checking out your blog (or wondering why you don’t have one).
• He's online. Checking out your blog (or wondering why you don’t have one).
• He's socializing. Telling everyone what's happening in his world.
• He's Tweeting, Facebooking, he’s on Linked-In. Social media is a firestorm.
• He's blogging about his experiences with you, for the world to read.
• He's Googling everyone.
• He's texting. A lot.
• He's using his mobile device to do pretty much everything.
• He's WiFi-ing in his hotel room, on the plane, in Starbucks, and at home.
• IF he's reading a paper, or getting the news, it's online.
• He wants technology in the transaction – his time is more valuable now.
• He is value oriented, but will look to price as part of the decision.
• He wants a relationship, based on trust, which you will have to earn.
• He wants, needs, and expects GREAT service after the sale.
• He does not want to wait for anything or anyone.
• He needs help and expert advice – but it better be legitimate.
• He's looking to you for ideas and answers.
• He knows as much about your product as you do.
• He demands the truth. All the time.
• He no longer trusts the institutions he used to hold sacred.
• He needs to be understood and feel your sincere concern.
• He wants you to know that while you are qualifying him, he is qualifying you.
The world of sales is a tougher place today than it was two years ago. But as I have said in conversation after conversation, we are now in a market that demands skills. A market that demands ethics. A market that won't tolerate BS from anyone, at any level.
We are not going through a "cycle", in my opinion, but rather, we are going through a "revaluation". I'm talking about the stock market and real estate prices... but I'm also talking about each one of us. I'm talking about employees, salespeople and professionals. I'm talking about pastors, construction workers and CEOs. Our value is being tested in this new market, and skills are the new currency of the 21st Century.
You can fear this new market, or you can embrace it as the impetus for positive change in your own life. As always, it comes down to attitude and perspective.
Game on.
