This book shows how companies can - and must - adapt their sales strategies and processes to changing customer expectations in times of digital transformation and markets volatility. How can sales address, win and retain the modern customer, an intangible PHANTOM in the digital space?
The digital world is characterized by eagerness, ease and enthusiasm. Nowadays, people have unlimited and instant access to manifold information and thus they believe to be knowledgeable, autonomous and independent. As customers, they actively elude traditional sales and marketing on their way to a buying decision - in B2C and B2B alike. To reach these modern customers, companies must synchronize their sales approaches with their customers' decision-making processes and rethink selling. In this context, the author offers a wealth of suggestions with examples and provocative theses.
A stirring and inspiring book for anyone interested in state-of-the-art sales and marketing: sales management and staff or entrepreneurs and start-ups.
Author(s): Livia Rainsberger
Publisher: Springer
Year: 2023
Language: English
Pages: 276
City: Wiesbaden
Warning Notice
Acknowledgement
Contents
Abbreviations
List of Figures
List of Tables
About the author
1 The EEE-World
1.1 Eagerness
1.1.1 Even the Earth is Spinning Faster
1.1.2 Technology as a Problem and Solution in One
1.1.3 The Culture of Hurry
1.2 Ease
1.2.1 Ease and Convenience as Drivers of Innovation
1.2.2 Convenience Fighting Against the Price
1.2.3 Efficiency and Time Saving in Everything We Do
1.3 Enthusiasm
1.3.1 Enthusiasm as a Driving Force of Progress
1.3.2 Enthusiasm Continuum
1.3.3 Hunting the Next New Thing
Conclusion: The EEE-World: blessing and curse
References
2 The III-Human
2.1 Informed
2.1.1 Information Society—How did We Get Here?
2.1.2 The Ease of Information Consumption
2.1.3 Searching Skills Replace Memory Skills
2.1.4 Who Really Needs It All?
2.2 Independent
2.2.1 Authority Under Pressure
2.2.2 Independent and Self-Determined Thanks to the Internet
2.2.3 Personalities with Decision-Making Skills are in Demand
2.2.4 Self-Determination and Flexibility — Important Trends in the Work Environment
2.3 Individualistic
2.3.1 The Globalization of the Individualism
2.3.2 Individualism as a Core Driver of the Economy
2.3.3 Individualism—A Source of Money
2.3.4 The Individualization of the Entertainment
Conclusion: The III-Human: One extreme strengthens the other
References
3 The Modern Customer—The PHANTOM
3.1 Pseudo-informed
3.1.1 More Information with More Choice
3.1.2 Research Phase Becomes the most Important Part of the Buying Process
3.1.3 Highly Informed Customers
3.2 Hyper- convenient
3.2.1 Online or Offline: Convenience Wins
3.2.2 Personal Data in Exchange for a Better Buying Experience
3.2.3 Traditional Sales Processes Under Pressure
3.2.4 Sales Between Technology and Human
3.2.5 Fast, Urgent, Instantly
3.3 Autonomous
3.3.1 The Own Opinion Counts
3.3.2 Loss of Customer Trust
3.3.3 Self-Directed and Autonomous Procurement
3.3.4 The Dark Side of Autonomy
3.3.5 New Buying Tasks
3.4 Needs-oriented
3.4.1 Brutal, But True: They Don’t Care About “Us”
3.4.2 Tailor-Made From the Start
3.4.3 Needs and Benefit Filter in First Place
3.5 Tech-savvy
3.5.1 Technology in the Retail World
3.5.2 Technology Affinity Has Gone Mainstream
3.5.3 Always On
3.5.4 Loss of the Science Fiction Status
3.6 Opportunistic
3.6.1 Low Tolerance Levels
3.6.2 Brand Loyalty—An Outdated Concept?
3.6.3 The New Loyalty to Convenience
3.6.4 Traditional Purchasing Processes Now Obsolete
3.6.5 Is Loyalty Still Affordable?
3.7 Mutating-Mobile
3.7.1 Needs and Expectations Constantly in Motion
3.7.2 Buying Decisions On-The-Go
3.7.3 Connected and Networked
3.8 The PHANTOM—Fantasy or Reality?
3.8.1 The PHANTOM File—Taking of Evidence
3.8.2 Changing Perspectives
Conclusion: The PHANTOM customer: not an illusion, but reality
References
4 KISS the PHANTOM—Grasping the Ungraspable
4.1 Know
4.1.1 The Inconvenient Truth About the Relevance of Salespeople
4.1.2 The Ecosystem of A Customer Decision
4.1.3 Generational Mix: A Blend of Contradictions in Customer Expectations
4.1.4 Rigid Target Group Profiles: Relics From the Past
4.2 Ignore
4.2.1 Intelligently (not) Getting Out of the Way
4.2.2 Trust: An Increasingly Rare Asset
4.2.3 The Ariadne’s Thread in the Digital Space
4.2.4 Ignoring, But Addressing Individual Needs
4.3 Stimulate
4.3.1 Innovation Everywhere, Except in Sales
4.3.2 Who Wants To Be A Prey?
4.3.3 Shitstorms Lurking Around Every Corner
4.3.4 Customer Loyalty Values Instead of Customer Loyalty Measures
4.4 Sensibilize
4.4.1 Questioning Instead of Answering Questions
4.4.2 Provocation With Good Intentions
4.4.3 Differentiation Through Customer-Oriented Content
4.4.4 It Doesn’t Always Have To Be a Salesperson
Conclusion: KISS the PHANTOM—the modern approach to winning customers
References
5 The DECIDE Buying Decision Process
5.1 Discover
5.1.1 Demand Levels: From Clueless to Acute Need for Action
5.1.2 The Existence of a Problem Does Not Yet Imply a Need for Action
5.2 Explore
5.2.1 Passive and Active Search
5.2.2 Different Research Behavior at Different Demand Levels
5.2.3 Generation-Specific Research Preferences
5.2.4 Digital Natives Transform The Basis for Decision-Making
5.3 Consider
5.3.1 The Variety of Solutions
5.3.2 Overwhelmed and Paralyzed
5.3.3 In Search for Proofs of Value
5.3.4 Self-Service Preferred
5.4 Interact
5.4.1 Customers are Far Ahead of the Providers
5.4.2 Anywhere, Anytime and in Any Way
5.4.3 Interaction at PHANTOM’s Terms
5.4.4 The Quality of the Experience
5.4.5 Back and Forth
5.5 Determine
5.5.1 High Level of Activity in the Decision-Making Group
5.5.2 Decision or Validation?
5.5.3 Decided is Not Yet Decided
5.6 Execute
5.6.1 Nothing Is Won Yet
5.6.2 Never Put Trust at Risk
5.7 The Zigzag Path to a Decision
5.7.1 The Sales Funnel—an Outdated Concept
5.7.2 B2C and B2B—Where is the Difference?
Conclusion: Customers go their own way in their decision-making—sales must align accordingly
References
6 The ENABLE Sales Process
6.1 Educate
6.1.1 Goal: Recognize the Problem
6.1.2 Misunderstanding Potential: Not Product Education
6.1.3 Necessary Understanding: Customer-Specific Situation
6.1.4 Touchpoints: Digital, Indirect, Passive
6.1.5 Key Content: Needs and Problem-Oriented
6.1.6 Buying Center: Recognizing Initiators
6.1.7 Content Forms: Provocative and Awakening
6.1.8 Activities: Content Distribution
6.1.9 Engagement: Open Access to Content
6.1.10 Technology Aspects: Fast, Responsive, Barrier-Free
6.2 Nurture
6.2.1 Goal: Deepen the Problem
6.2.2 Misunderstanding Potential: Do Not Overwhelm With Information
6.2.3 Necessary Understanding: Relevance From the Customer’s Perspective
6.2.4 Touchpoints: Visible, Barrier-Free, Website-Related
6.2.5 Key Content: Neutral, Product- and Vendor-Independent
6.2.6 Buying Center: Addressing Problem Owners
6.2.7 Content Forms: Knowledge-Based
6.2.8 Activities: Provide Content Passively
6.2.9 Engagement: Digital, Anytime, From Anywhere
6.2.10 Technology Aspects: Data-Based Personalization
6.3 Affirm
6.3.1 Goal: Affirm Need for Solution
6.3.2 Misunderstanding Potential: Benefit Instead of Self-Presentation
6.3.3 Necessary Understanding: Connecting Customer Problems With Own Offerings
6.3.4 Touchpoints: Research-Related
6.3.5 Key Content: All Solution Options
6.3.6 Buying Center: Identify All Stakeholders
6.3.7 Content Forms: Distribution Before Production
6.3.8 Activities: Pull Before Push
6.3.9 Engagement: Unenforced
6.3.10 Technology Aspects: Analytics and Automation
6.4 Brainwash
6.4.1 Goal: Create the Right Perspective
6.4.2 Misunderstanding Potential: The Product is Not the Goal
6.4.3 Necessary Understanding: Irrational Decisions
6.4.4 Touchpoints: Easy, Direct Contact Options
6.4.5 Key Content: Shake Up
6.4.6 Buying Center: Keeping the Goal in Mind
6.4.7 Content Forms: Attention!
6.4.8 Activities: Questioning Assumptions
6.4.9 Engagement: Hybrid Interactions
6.4.10 Technology Aspects: Artificial Intelligence
6.5 Leverage
6.5.1 Goal: Minimize Decision Load
6.5.2 Misunderstanding Potential: Do Not Manipulate, But Enable
6.5.3 Necessary Understanding: More Is Not More
6.5.4 Touchpoints: Personalized and Interactive
6.5.5 Key Content: Contextual Recommendations
6.5.6 Buying Center: Create Urgency Among Decision Makers
6.5.7 Content Forms: Options with Recommendation
6.5.8 Activities: Customer Key Content Map
6.5.9 Engagement: Personalized and Contextual
6.5.10 Technology Aspects: Data
6.6 Easy-Buy
6.6.1 Goal: Easy To Do Business With
6.6.2 Potential for Misunderstanding: Technology Without Business Perspective
6.6.3 Necessary Understanding: Digital-Virtual-Human
6.6.4 Touchpoints: Mobile, Voice, Social, Multi-Channel Commerce
6.6.5 Key Content: Focus on the Value Chain
6.6.6 Buying Center: Access to the Project Implementation Team
6.6.7 Content Forms: Fast, Easy Buying Options
6.6.8 Activities: Building Trust
6.6.9 Engagement: Customer Experience in Focus
6.6.10 Technology Aspects: Individual Buying Experiences
6.7 The Big Picture—Bird’s Eye View
6.7.1 New Sales and Marketing Roles
6.7.2 Focus On Buying Process Instead of Sales Process
6.7.3 Understanding Outstanding Customer Experience
6.7.4 Focus On Value Instead of Information
6.7.5 The Technology Intelligence
6.7.6 Customer First, Not Technology First
6.7.7 Leading Sales Instead of Controlling Sales
6.7.8 Rethinking Customer Loyalty
Conclusion: Sales not selling—utopia or future?
References
How Does This Knowledge Help Me?
