If you want stark proof of how buying habits are changing then look no further than recent research in car sales that discovered “40% of new car sales are now made on the buyer’s FIRST visit to the showroom.” (Source – Automotive Management Online 30/07/18) That level of closing would have been unheard of a few years ago, when people would hardly EVER buy on the first visit, despite the sales person’s best efforts to lure and land them with “Deals only available today!”
So why are 40% of new car buyers committing to purchase on the first visit to the showroom? Have car sales people suddenly become irresistible? Have the manufacturers added magic buying chemicals to the interior finish?
NO, the reason is the customers have already done extensive research online. They are at least 60% along their buyer journey and go to the dealership just to do their ‘final checks’ and a test drive (something they can’t do online), before completing the transaction. They know the price they are willing to pay and they let the sales person know they are very well ‘informed’.
It’s not just new car sales, computers, dishwashers, fridge-freezers, TVs all get the same level of ‘research’ before we buy. What are people saying about the products on social media? What are the reviews like? Who’s done a review on YouTube that we can watch?
These maybe retail scenarios but it is exactly the same with business purchases. We don’t want lots of sales reps calling on us, we only want the one or two from the businesses we have ‘shortlisted’.
This of course is no surprise to you, as you are a consumer yourself and YOU already do this!
Please read the full article on LinkedIn HERE