If this is your first time visiting, you can receive this blog by RSS Feed or email .

[I will be interviewing Gary Halliwell, CEO of NetProspex.com, on my next post. Watch for it.]

What is changing about our customers’ buying habits that we need to be aware of?

1. Vendor Consolidation. Companies are reducing the number of vendors they use by as much as 90%. I’m seeing this across all industries. Fewer suppliers means the customer has more power and control over the suppliers that make the cut. However, there is a positive flip side to this from the vendor’s point of view. This necessitates a much stronger partnership between customer and supplier and that’s always a good thing.

2. Metrics. Customers are no longer just interested in acquiring products and services. They are tracking all kinds of numbers about their vendors: service scores, total ROI, product defect rates, shipping errors, strategic cost management, etc. If you and your company are as good as you say you are, then here is your chance to show them in black and white. Good results on their metrics will provide you loads of ammunition to justify your higher prices.

3. References. Your customers are using the Internet and all of its social networking tools to find out about you and your company. Do they want to partner with you (or continue to partner with you) as part of their vendor consolidation? Sophisticated buyers know they don’t need to ask you for references anymore; they can find much more objective ones by “word of mouse.”

4. Global Outsourcing. Not much explanation needed here. If you’re a service provider it has never been more important for you to show your added value.

5. e-Commerce. Customers are getting very comfortable with buying over the web. I’m not just talking about nickel and dime purchases either; they are buying large volumes of high dollar items over the web. Relax, this will not replace you; use this to your advantage. For my take on this, please visit Attention sales representatives, the Internet is not replacing you.

Notice that all five of these trends are heavily influenced by the salesperson. The sales professional is, and always will be, the key to the customer relationship.

There are other trends, but these represent the top five. We must be careful to recognize these changes and adapt our sales approach to them, both from an individual salesperson’s perspective and from the sales organization’s perspective. Those that can most effectively adapt to these trends will create a competitive advantage.

© 2008 Scott R. Sheaffer

Tags: customers

We'd like to hear your feedback on this post - feel free to comment below!