Everywhere we hear comments (good and bad) about the digital age. Some scholars associate this change as a consequence of technological advances and others with generational changes and their behaviors, such as the famous millennials or also known as Generation Y.
The reality is that no matter what – or who-is responsible for the digital age, it is an indisputable fact that the purchasing processes and, as a result, the sales processes have changed brutally and will certainly continue to change. More than a digital age, we are in an era of change.
No matter if you sell a daily consumer product, a professional service (lawyers or architects, for example) or a personal service as a dry cleaner, here’s what and how some things have changed so that you can refine strategies and your business can successfully navigate the digital tsunami.
The price of things is no longer the same. Our customers have already stopped analyzing the purchase in the foreground, that is, the current customer compares the purchase price and the purchase price. If your product costs 10, and your store is in a shopping mall where you pay parking at a cost of 1 per hour, the purchase cost of your product is 11. Compared to a substitute product with the same characteristics that has an online purchase price and with included shipping is 10.5. What was cheaper? Much of the online shopping decisions have a lot to do with the purchase price.
The zero moment of truth. From the marketing perspective, the zero moment of truth is the moment when customers make the purchase decision. To cite an example if you’re in the Super that moment happens on the shelf. But … where is the moment of truth if you sell a professional service, an intangible or a durable or high-cost good? In the digital age the zero moment of truth is in pre-purchase investigation, i.e. the purchase decision is no longer in your store, it is on your client’s computer or cell phone. In order to make this matter of previous investigation even more complex, during this time customers besides analyzing and comparing the product in its characteristics, now also consider the opinions that other customers share in testimonials, ratings or ratings.
Time is gold. Have you ever thought that almost all innovations have a direct impact on saving time? Time spent shopping has become one of the things your customers prefer to “save”, go from home to the mall, go into the store and come back takes time. The “cost of time” is being highly valued in purchasing decisions, even if the time saving is good enough your customer might be much more willing to pay more for your product.
Not being means not being. For a little weird, but not being online for a good number of your clients almost means you don’t exist. And being online doesn’t necessarily mean having your own website or a virtual store. At the very least you should generate a digital profile for your business/store to publish your attention schedules, location and phones. By the way, it is no longer enough to have your profile on Google, Now you also need to be Logged in Foursquare, Facebook and Yelp to ensure that you are on the search (the various localization and mapping services use one of these four platforms as information providers).
Digital complaints. Has it happened to you that the provider on the phone doesn’t offer you solutions, but you tweet them and everything magically resolves? This issue of customer service digitisation has to do with the agility in which brands can serve their customers and the same with the ratings I mentioned a little earlier. Without belittling or favoring any digital customer service alternative, I suggest you identify which one is best suited to your business. I consider that perhaps the two that can currently have the most impact (just remember that this can change) are the 24/7 chats on your website, Twitter or even WhatsApp (the Whatsapp version for businesses and brands has arrived).
The revolution of the forms of payment. Perhaps some of the phenomena do not yet have as much impact on the day-to-day, but the speed at which this issue will turn into a trend is impressive. MercadoPago or Paypal are perhaps the best known, we will soon see a SPEI (electronic transfer) reduce its 18 digits to become your cell number, or the elimination of the “referenced payments” that will be replaced by the personalized CLABE accounts, passing by payments with your cell phone, or smart clock, and the inclusion in biometrics as a method of security in your purchases, in this sense the possibilities will be infinite and you will have to consider them to offer a service that will amaze your customers.
Surely at this moment you will come up with more things that have already changed or are about to change in the way you do business (if you thought of any other sharing it), the aim of writing these lines is to raise awareness about how dynamic the competition environment is and to identify some of the challenges that the digital age brings for your business.