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The Rise of Purchasing Power…

Digital marketing agencies throughout the world are starting to see two camps when it comes to main street business owners;

1. Those feeling the pinch in their business of late, they boil it down to the poor economy and GFC (Global Financial Crisis) — waiting for it to improve.

2. Those committed to engaging consumers smarter, using the internet and new social/mobile technologies as a delivery
platform.

I know clients of our digital marketing agencies, powered by proven digital marketing systems, are all enjoying consistent growth month-over-month.

So I have this question for the other lot;

What if it’s Not the GFC?

What if a large portion of the pinch they feel is due to their customers changing over the past 5 years?

What if the problem actually boils down to the way they do businesses not changing with consumer buying behaviour?

What’s say successful salespeople have adapted, yet their sales team is still on yesterdays page?

Although I’m happy to concede the poor economy is a contributor,

…I guarantee, if as a business owner, you’re not “engaging consumers smarter” this year, than you did last,

…it doesn’t matter how long you wait for the economy to pick-up, it’s not going to help.

I’m Just “sayin”...

There’s been a Rise in Purchasing Power…

This has been a global revolution, changing buyer behavior since as long as social media started changing the way people communicate.

It’s just this revolution has slipped quietly under the radar.

Let me explain.

You’ve probably noticed your customers treating you more like a commodity lately.

At the same time, they demand more expertise, more depth and better support.
 
How can that be?

“A commodity is defined as a good for which there is high demand, but supplied without qualitative differentiation across a marketplace.”

Yet, over the past 5 years, buyers have become more demanding, much smarter, tougher even,

… I would go so far as “saying”, predatory in nature.

They’re more strategic and better equipped to use purchasing techniques that force better concessions, from sellers,

…like “YOU”.

Well actually, “ho-hum”, we’re all a little bit of both actually.

Entrepreneurs are buyers and sellers, which should make it easier for us to “get-this” than most.

Buyer purchasing strategies, (for both consumers and commercial buyers), have become more strategic than ever before.

Any offer on sale today that’s of low strategic importance, where an alternative can easily be found, unless it’s easy to buy, sold at a lower cost point to competitors (with a seamless user experience) — and comes with great customer support,

…”it’s dead in the water”.

If, as a vendor, you can’t meet these tough new demands, buyers switch to sellers who can.

(in a heartbeat)

Man Working with graphsYou need only think about this from a commercial buyers (B2B) perspective to comprehend its significance.

Take “you” (for example), when buying stock or supplies for your business.

You can cut costs through either better efficiency…

(only if you invest capital into new technology first)

Or,

Diminishing scales

(at the risk of investing in larger volumes {so spending more} up front)…

Or,

By screwing your suppliers for better prices, because if they can’t do it,

…another seller will.

(this delivers your business a 100% saving at the expense of your seller’s bottom line, not yours)

If you feel like the seller getting screwed; “you’re not the only one”.

Using Social Media for Business, a Turning Point in the History of Sales… >>>

 

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