After decades of being abused and mistreated, the consumer is finally coming out on top. He is now king! He decides when
he wants to look for your product, how
he does it and where
he does it. But for the most part, they all start in the same place.
Here are the figures:
- 81% of shoppers conduct online research before buying
- 60% start their research on a search engine like Google
- 61% of shoppers read product reviews before making a purchase(Source)
By the time a consumer walks into a car dealership
in 2018, his mind is already made up! And this goes for EVERYTHING; it's the same story for the majority of products and services that you see today! If 30 years ago, the sales cycle started when a customer would walk in the store, today it starts when the consumer simply feels a need or a want. And with a smart phone in his pocket, he can start looking to fulfill that need within seconds
. There's no need to speak with a salesman any more. All of the latest information is easily accessible online.
The dynamic of our work as businesspeople and as salespeople has changed the day that the power of information shifted from us towards the customer. Those who adapted survived and thrived, the rest died out, much like the dinosaurs did.