Hype behind the numbers.
In the world seemingly on a rudderless course steered by automated ‘personalized’ marketing; we are inundated with the latest and greatest sales behavior predictions using social media, networking, blogging, video platforms… a digital cornucopia of the ‘it’ factors pointed at customers that will buy.
Beware of sales behavior predictions.
Some of the statistical data is downright poor and maybe that’s because simple statistics rely too much on buying habits under a limited number of situations, markets or conditions that bear little resemblance to what you sell. Few experts are willing to debunk these easy and simple hypothetic links e.g. a social network platform that works for selling Pepsi may have little relativity for selling houses.
Yet many a marketing guru would have your company totally revamp its selling process based on these statistics; worse yet with relatively ‘green fielding’ methodologies in lieu of tried and true methods.
Social Media Sales Stats: Does this mean the end of Wal-Mart?
Even when demographic and econometric modeling is added, a statistic hypothesis of a certain sales behavior doesn’t necessarily mean anything. For example, Twitter touts 200 million users. Even with such screaming growth, does this new wave of internet marketing spell the end to Wal-Mart? Hardly, for many solid reasons, not the least is new internet platforms are a figurative drop in the bucket. The 176 million living and breathing customers that visit Wal-Mart stores weekly and ‘stay’ awhile and ‘buy’ vastly outnumber Twitter and MySpace.
Stats tell you what customers aren’t buying.
Car crashes killed 34,000 people in 2009 and in 2008 there were six million accidents, about a one in five chance it will be your time. No one could possibly sell cars based on these statistics alone. Car manufacturers avoid the poor statistics and replaced them with items that do not change the statistical facts: zero interest loans, free this and more that. They have used poor stats to their benefit: ignore what customers aren’t buying.
Great stats can fail to sell.
Airlines can statistically prove air travel is many times safer than traveling by car. However, many a travel plan is based on a perceived and intense decision not to fly for safety reasons. As infinitesimal as the risk may be, the buying decision for air travel is not based on favorable safety statistics. So airlines ignore statistics that won’t sell: a hugely favorable safety statistic is something they can’t sell because many passengers aren’t buying it.
MosaicCRM Experts Corner
Maximize your statistical edge: “Sell a ‘Trend”
Even with exposure to the unlimited ‘customers’ on the net, selling a trend is possibly the only edge over blanket numerical statistics. What makes a trend is selling to good markets and ignoring weak markets, niches or products with proven methods and options that accentuate your edge.
At MosaicCRM we rely on tried and true statistics, particularly in the two vital areas of activities and sales opportunities.
- Market Analytics show aging, margin, unit volumes and revenue distribution is a single step
- Track Stalled Opportunities as an indicator of competition, sales programs and sales cycles
- Identify Customer Buying Cycles to minimize the selling cycle and maximize personnel deployment
Bill Noonan, CEO MosaicCRM
Helping organizations and their users achieve their activity objectives is the hallmark of MosaicCRM. Our business processes offer a unique and important approach to measuring activity ‘results’. This differentiation is particularity valuable when it comes to Account Retention and Acquisition: our activity protocols are vital to optimize activity effectiveness and success.