Sales is an ever-changing dynamic. We live in a complex world where consumers have more knowledge than ever, the competition is fierce and trends impact your business more than you know. So which sales trends will have the greatest effect on your business and sales teams in the remainder of 2016?
Trend 1 – Finding New Methods of Cost Reduction
The business environment is now littered with broken companies and suppliers who together are engaging in a toxic race to the bottom by pushing down prices lower than the supply chain can accommodate. Unprofitable supply chains can only deliver risk and failure to those who depend on them. This race will intensify this year for companies (both suppliers and buyers) which have relied on price reduction for survival.
If you don’t want to be another casualty, it is best to avoid this race at all costs. This year, smart organisations will adapt to mechanisms of cost reduction rather than price control. This means both buyers and suppliers will look to deliver real value beyond product and price.
Trend 2 – Online and Bricks-and-Mortar Hybrid Models
For a long time now we have been hearing how online retailers (or e-tailers) are killing the bricks-and-mortar retail industry. Low performing retailers complain that the competition is unfair, since e-tailers have fewer expenses. Another focus of traditional retailers’ complaints against online stores is that people use the bricks-and-mortar shops to try on, feel, and choose products and then buy online.
So what happens when e-tailers decide to move into the bricks-and-mortar space? This sales trend is moving towards a hybrid retailing model that embraces the advantages and challenges of a combined model.
Trend 3 – Consumers Buying Locally
As the economic impact of the import/export markets has been felt locally, people have started to shift back to purchasing Australian made products. In fact, on a global market scale, consumers are moving towards a ‘buy local’ mindset (manufactured or produced goods). This trend points to some very interesting manoeuvring by big corporates and local businesses as they vie for clients’ attention.
Trend 4 – Recruiting for Change and Evolution
People have been trying to identify how to hire the ‘right’ people, especially salespeople for as long as jobs have existed. Given the increased employee fluctuation now occurring within workplaces, workplace environments themselves are in a constant state of flux. The ‘right people’ has shifted from those who ‘fit’ the environment, to those who can bring about the greatest improvements. Organisations will be focusing on the ‘learn to earn’ curve and how salespeople can deliver results quickly and sustainably.
Trend 5 – Moving Beyond KPIs
Ever since sales paradigms like solution selling and value based selling, sales strategists and managers have been eager to find ways to measure and ensure the overall effectiveness of their salespeople. Now the idea is moving from a performance review (post-activity) to a coaching situation (pre or during activity); moving management from feared-based to support and empowerment.
Source: Smart Company
It is clear that today’s chief executives will need to be more aware of not only how they are doing business in general, but also the impact their sales teams are having on the minds of their consumers.
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