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Contacts:
Amy Longhouse, Penguin Putnam Books: (212) 366-2000
Email: Longhouse@penguinputnam.com
For immediate release:
Four trends to watch while formulating sales strategy in the New Economy
(New York) Research from the newly released book "Selling 2.0" has documented four trends to watch while formulating sales strategy in the new economy.
Trend#1: Your products are less unique
Finding:
Unique features don't stay unique for long
Design and manufacturing technology have empowered companies to quickly duplicate advantages product features a competitor might have. The availability of highly skilled temporary workers allows any company willing to spend the money to duplicate almost any service. Typically companies once had three to five years to exploit an innovative feature before a competitor could "knock off" that feature. Today, unique features sometimes become commonplace in as little as six months.
Trend#2: You will get more dollars from repeat business
Finding:
70.2% of a salesperson's business now comes from repeat business
In the new economy, one-shot sales are being moved to e-commerce and call centers. Salespeople are more often handling ongoing relationships with customers who have long-term selling potential.
Trend#3: Your customers are consolidating
Finding:
24.7% of salespeople report losing business because a customer was acquired within the past 12 months
Consolidation of the customer base is a real issue for salespeople across all industries. In the future, salespeople will likely have fewer, larger accounts as their territory.
Trend#4: Your customers are reducing their number of suppliers
Finding:
18.1% of salespeople report losing business because of a supplier consolidation within the past 12 months
Information technology has enabled companies to cut costs by consolidating suppliers. Dealing with fewer suppliers can help a company control internal transaction costs. This trend can work in your favor if you are one of the consolidated suppliers but be disastrous if you are not.
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