Selling is old school – Conversion is what matters

In the early 1990’s the concept of building in greater value into a product or service and charging less for it was just beginning to be recognised. Up to then for example, if you had additional items on a car you paid for them.  Then the manufacturers were faced with higher specifications on competitor products and the race was on –and still is.

Now the concept is universal – the latest version of anything will always need to have either a reduction in price or a minimal increase but include features and benefits that are much improved.

And the same goes for the service sector. Additional reports, extra research time, faster service, etc. etc. are all part of the upgrading of a service but rarely is there any mention of price hikes.

As we settle into a post-recession period the sales process is going through just as a dramatic change. The second oldest profession in the world is disappearing from many marketplaces. Two factors are involved:

• ·         Sales people no longer have the monopoly on innovative products or services that give businesses and consumers advantages or status
• ·         Buyers are increasingly confident that there will be a solution available when they want one and at a price they are willing to pay

These two factors make “selling” very old school. Even modern selling techniques such as Challenger Selling are coming unstuck  because of the way they place the salesperson in a weak position.

Buyers have always had the ability to walk away from a deal but they used to have to worry about not getting what they wanted. Now buyers are almost 100% sure they will get what they want and will walk away before the conversation has even started.

Companies are missing out on most of their sales not because they fail to meet the expectations of buyers but because they just don’t get the opportunity to convert interest into action.

Conversion is going to become the most hotly contested contact point between those who want to buy and the companies that have the products or services these valuable buyers are interested in.

Conversion points are not just those on your website, they can be a subtle as the way your brand is perceived or as obvious as to how skilled your customer contact staff are. Conversion can start with how you talk about your services or products or even more importantly how others talk about them.

Conversion is influenced by your company’s social and digital footprint, how your staff talk about the ethos and culture of the business they work in – conversion is happening all around you and if you don’t manage it you won’t even get the opportunity to lose a sale.

Check out the next series of blogs as I go into greater detail of how you can create and manage a conversion strategy.