Relationships, Change in a Pull-Economy
“The customers you once caught are now hunting for your replacement. That is my explanation of the Push-Economy becoming the Pull-Economy.” RJS
How will customer relationships change? Here’s my thinking.
In the product pushing sales environment of the past, the customer was sought after, courted and the seller of the product based their customer acceptance on the relationship they created with the buyer. In a Pull-Economy the buyer becomes the hunter the buyer forms relationships based on their experience in acquiring what they desire. A Pull-Economy removes the power from the seller and gives it to the buyer. The Pull-Economy redirects the search from sellers searching prospects, to sellers becoming prospects to buyers. Today choices are easily identified, researched, and acquired so, the need for the pushing of products through outdated selling strategies or marketing strategies of the past is diminishing greatly. The challenge will be for resellers to determine how they respond at the intersection when their products become more of a commodity or are no longer near as valuable to the marketplace as they once were. In today’s innovative world many organizations and industries will find themselves at this intersection.
Here are a few quotes I penned as warnings to how one’s greatest perceived or actual customer relationship assets can prove to be inconsequential as your customer discovers the new innovator who changed the game.
“You can be the vendor with the greatest relationships and lose to the new unknown competitor who delivers a better experience.”
“You can be the vendor who answers the phone in two rings and lose to the new unknown competitor who doesn’t even accept phone calls.”
“You can have been recognized as the markets greatest service provider and lose to the new innovator who redefines how your product is serviced.”
“Today It’s not the competitor we know and believe we can beat that should concern us. We must be vigilant to look to our imagination for the new competitor coming from places which were once unimaginable.”
The passion organizations have of their greatness must be balanced with the reality of how the marketplace accepts the greatness of what they sell. Think about how many organizations believe that the reason for their success is their great relationships. In 2018 this could be a dangerous strategy for the continuation of their prosperity especially if their deliverable is declining in customer needs and appreciation. In these new innovative times, the patience customers used have in remaining in the old way based on great relationships is quickly eroding. “The new way’s momentum is fueled by the old way’s stubbornness.”
Today’s customer wants relevance, and more imp