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The buyer’s cycle, selling cycle paradigm

Article provided by Matrix Marketing

Much is being said in contemporary literature regarding the evolutions that are forming and driving business and especially selling practice in today’s competitive market.

The theory is that there has been a shift away from a “push approach” to a “pull approach”.

The buyer is now in control

The buyer looks for solutions to their issues.

The buyer compares products and solutions to determine best fit and value.

The buyer collects data from unbiased sources to analyse and inform their decisions.

The buyer ultimately makes a purchasing decision.

The more traditional sales cycle placed the initiative in the seller’s hands.

The seller in control

The seller identifies and targets leads.

The seller carefully uncovers and demonstrates the need for the solution.

The seller filters and presents data to support the decision.

The buyer ultimately makes a purchasing decision.

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As the information revolution has expanded its reach through technology and data, it is paramount to consider these arguments.

Certainly, buyers can find out more information at the press of a button than previously thought of. They quickly assemble “facts”, analyse results and present findings to stakeholders tasked in determining where to spend hard-earned capital or operating expenditure. They may also be unwittingly exposed to bias and misrepresentation without clearly defining their objectives and focusing on the unintended consequences of a poorly-informed decision.

The real questions are…

  • Do today’s successful companies rely on the market to engage with them purely on their digital and media presence with the sales focus supporting the buyer’s journey?
  • Do sales teams purely respond to enquiries?
  • Is demand (lead) generation a marketing or sales function?

The simple answer to consider in determining how we should respond to the above is the word “control”.

Companies may not be able to afford to adopt a laissez-faire style approach to generating revenue. The essence of management demands a planned, led, organised and controlled approach.

  • Lead generation strategies should be investigated, adopted and supported.
  • Multiple strategies should co-exist.
  • Results should be analysed.
  • Success criteria determined and refined.

A combination of “push” and “pull” strategies will enable the successful business to respond to different market forces whilst remaining prepared to control the revenue/demand curve.

Whether the buyer arrives at your doorstep (literally or virtually) or you go out to find a customer the following fundamentals remain unchanged.

  • Identify your customer.
  • Gather as much intelligence and insight as you can.
  • Make a connection with a buyer.
  • Carefully analyse their issues and consider how you can help them.
  • Establish with them the cost of no action whilst highlighting the benefits.
  • Feed them all the facts and analyses to assist their decision.
  • Facilitate the purchase.

Drive your performance into the black.

Visit Matrix Marketing’s YouTube channel to understand the dynamics involved in improving these metrics and how it affects your sales results.

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