Throughout 2011 the B2C and B2B purchase processes evolved greatly. Customers increasingly took to social and mobile for researching products and services, as well as to make purchases. Perhaps unsurprisingly, mobile and social media, as well as growth in online sales, are expected to continue driving changes to sales processes in the coming year. Additionally, as a result of customers increase in channel hopping to check product information and pricing and to make purchases, companies need to increase their focus on the multichannel customer experience.
Experts are also predicting blurring of the divide between marketing and sales. More and more, the two functions will collaborate to achieve their common objective: closing sales. For example, the two teams will partner to nurture leads and select the optimal timing for marketing campaigns, increasingly the likelihood of a prospect becoming a customer.
Here, several industry insiders offer their prediction on key sales trends and how companies can harness them in 2012:
The mobile shift
Smartphones have revolutionized the sales experience. Geographical boundaries have been virtually eliminated and todays iPhone- or Android-toting customer is able to not only access information about products and services wherever he is, but can make a purchase on the go with relative ease. According to estimates by eMarketer, m-commerce in the United States will reach $6.7 billion in 2011, a noteworthy 91.4 percent increase over 2010. In 2012 mobile sales are expected reach $11.6 billion.
While the impact of smartphones and tablets on the sales process has already been substantial, its only the beginning. Weve just scratched the surface with smartphones. Theyre going to be the stars of the show for the next few years, says iRise CEO Emmet Keeffe.
- The marriage of social and mobile: Because of its around-the-clock accessibility, mobile has become a prime vehicle for social media interactions. According to Facebook statistics, 350 million of its 800 million users–more than 40 percent–access the social networking site over their mobile phones. Nichole Goodyear, strategic advisor at Extole, says mobile and social commerce will be merging to allow retailers to be closer to their customers. Companies will also be cautious not to create new silos.
- Leveraging location: The location identifier in smartphones is allowing companies to target their customers with geographically-relevant information. This trend will continue in the coming year, with more organizations tapping into location-based services to catch their customers as they pass by, says Radiate Media CEO Chris Rothey.
- Rise of the small establishment: By leveraging location-based services to their advantage, smaller businesses will increase sales by attracting geographically-favorable customers, says Rothey.
Social media sells
Todays social-savvy customer is increasingly going online to research what other people are saying about a product or service hes interested in purchasing. Many times the customers final decision is influenced by the reviews and recommendations of people he doesnt know, without having read what the company has to say about that product. This seismic shift has put buyers in the drivers seat; organizations have recognized that unless they leverage social media to their advantage, it may deal them a death blow. This is how social media is expected to impact the sales process in 2012:
- Search integration: Social chatter will increasingly be integrated in search engine algorithms, says Extoles Goodyear. Were already seeing links to social sites ranking high in the search results for particular products, giving searches real-time relevancy. This social media proliferation is pushed by both consumers who are willing to share their experiences and prospects who are doing their research before shopping.
- The birth of the social advocate: With social media interactions having a high level of influence on customers, companies will be trying to forge a closer relationship with their existing customers, enlisting their help to become brand advocates in order to increase their sales. Goodyear says an increasing number of companies will start formalizing referral processes in order to acquire new business through existing customers.
- Using social channels strategically: Social media greatly mimics the natural conversations in the real world. An increasing number of companies will recognize that they have to use a conversational tone in social to sell. Additionally, salespeople have realized that they can use social channels to search for prospects who have already shown interest in their type of product or service. Raghu Raghavan, founder and CEO of Act-On, says the coming months will see a great deal of effort into this research by sales agents who want to strike when the iron is hot. Dan McDade, CEO of PointClear, says unless sales agents capture customers who are showing interest in their company early on, they risk losing them to the competition.
The online customer
The 21st Century customer is also more open to shopping online. A report by Forrester earlier this year stated that online sales in the US grew by 12.6 percent in 2010, reaching $176.2 billion and predicted a 10 percent compound annual growth rate until 2015. This means that companies need to be as Web savvy as the consumers they are trying to attract.
- Simplifying the process: While consumers are not averse to doing their research, they want their shopping experience to be as simple as possible. Most important, they want to find what theyre looking for quickly and get frustrated when they dont, potentially leaving that particular site and going elsewhere. Todays customers are time-constrained and want a quick in and out, says Anand Subramaniam, vice president of worldwide marketing for eGain. Subramaniam says companies will start making it easier for customers to find what theyre looking for quickly, for example through simplified searches and sidebars with related products.
- Replicating the in-store experience: Many retailers know that customers who shop online because of convenience still look for personalized interactions. Thus, these retailers will be trying to give their online customers the experience they would get when they go to a store, says Subramaniam. For example, rather than telling customers who have a problem or inquiry to send an email, more online retailers will be using online chat, allowing customers to get their questions answered by an agent in real time.
- Great expectations: Customers have become accustomed to excellent service and products from the likes of Amazon and Apple, says Matthew Bellows, CEO of Yesware. Bellows says other online retailers will be improve their online sales experience to take a slice of the sales pie.
Finally, next year will see a continuation in the alignment of sales and marketing, two departments that have traditionally been distinct from each other. The line between sales and marketing is becoming blurred, says Act-Ons Raghavan. Raghavan says that in the coming year sales departments will become increasingly involved in lead nurturing and marketing campaigns, especially when it comes to choosing the right timing for communications and interactions. Salespeople want to be the ones pushing the start button, he says.