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Saturday, 5 July 2014

Buying is CHANGING.

In study after study we can measure changes to the Buying Process.

  • The Buying Cycle is taking longer.
  • There are more people involved in the Buying Process.
  • Buying Criteria has increased and is more diverse.

These changes to the Buying Process are giving consequences to the Selling Process.
Sales are becoming “involved” later in the Buying Process.

The role of Sales, in the Buying Process, is changing from Informational to INSIGHTFUL.

insights lightbulb

 

Buying Decisions WERE being made on ‘Best’ argument, ‘Loudest’ voice or simply ‘Gut Instinct’!
Buying Decisions WERE often justified using post-decision rationality to highlight possible benefits,
mitigate possible risks and minimise likely costs.

Today, increasingly, the Buying Process is supported by Decision Science.
The Decision Making Unit is using tools, techniques and process to PREDICT likely outcomes from its Decision.
In many cases the decision support system will simple give a Red, Amber or Green light on options,
WITHOUT exposing the Decision TAKERS to the full underlying Data or even the actual analysis!

So What?

This means that Salespeople now NEED an awareness of Decision Science and Data Analytics if they hope to influence the Buying Decision in their favour, or at least AVOID influencing the Buying Decision AGAINST themselves! ‘Shooting themselves in the foot’ is, currently, a widespread Sales Activity.  Giving Information, instead of Constructing Insights which contain REAL Value Data Input to their Data Analytics.

What is Data Science?

Data Science turns Data into Actions.

The collection, storage, sharing and use of Data is about 50 years old.
The Analysis, inductive reasoning and Decision advice is about 10 years old.
Simply, most companies have acquired sufficient processing power to perform viable Predictive Analysis.
They can, with a reasonable degree of accuracy predict their future.
Or, at least ONE of their possible futures, based on historic data, analysis and extrapolation.

Science based guesswork, rather than ‘gut feel’.

What should you be doing?

Perhaps you think this does NOT apply to me, MY sales are based on Relationships.
Well, you may as well know “Relationship” is going to play a steadily DECREASING role in Buyer’s Decision Making.
And, INSIGHT input based on Analytics is going to play an increasingly IMPORTANT role.

imageData Analytics are the BEST “Insights” available to Buyers.

They are inductive reasoning based, patterns which indicate the best action for the best probable future.
They outperform ‘theory based’ deductive reasoning, in real time! The inherent ability of Data Science to offer NEW relationships from multiple domains in business, to spotlight new business insights, and to offer alternative paths based on Data, not instinct.

If you thought the Internet and Social Media changed Buying then that will be small change compared to the REVOLUTION that Decision Science is bringing to Buying then Selling.

Learn, at least a little,
about the Decision Science available to your Prospects and Customers, and probable applications.

Understand how information shapes your Web Page Ranking in Google!

It’s NOT gut feel, loudest voice or Best Argument.

It is Data Analytics.

2 comments:

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  2. The baying process is changing very drastically; we have to continuously focus the consumer needs and wants to match with the consumer requirement. Sales Solutions India

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