This article is super informative. Some of the insights it offers are things most of us already know by now, such as the fact that today's market is customer driven or that customer experience now tends to trump mere product/price considerations. But it also offers some poignant wisdom about what goes through the buyer's mind when making a decision, as well as providing some questions to ask yourself when considering whether your strategy is up to par in today's market.  

Here are some highlights from the article (portions in Italics are direct quotes):

The factors that contribute to a customer’s overall buying decision:

• Transaction orientation. Customers buy according to how well a salesperson meets the customer’s expectations regarding the buying process. Some customers may want an easy, intuitive transaction that is predictable and hassle-free. Others may desire a more engaged and consultative buying process.
• Reliability orientation. Reliability of products and services is paramount, often because the customer’s operations depend on it. These customers will invariably choose the most reliable offerings over those with the lowest price.
• Quality and performance orientation. Customers desire the best product and service quality and are willing to pay a premium for it. High reliability is assumed. Customers place a premium on the supplier’s sustainability record.
• Brand and image orientation. Customers place a lot of trust in the supplier’s brand, reputation and market history.
• Relationship orientation. Customers appreciate their history with the supplier and the knowledge the supplier has of their business. Long-entrenched relationships between various parts of the customer and buyer organizations are key, and these relationships act as a barrier to the entry of new suppliers.
• Customized solution orientation. The supplier’s ability to innovate to meet customer specific needs is very important to today’s customers.

The five main customer demands today:

1. Be on our side. Customers expect salespeople to be their representatives within the seller’s organization.
2. Be personally accountable for our desired results. Customers want salespeople to take responsibility for every aspect of the relationship between buyer and seller.
3. Be proactive. This means you stay ahead of the curve with customers, anticipating problems and acting in advance to solve them.
4. Solve our problems. In the past, the closing of the sale usually marked the end of the salesperson’s responsibilities. Customers now expect salespeople to not only solve their problems during the transaction itself, but throughout the business relationship.
5. Be innovative in responding to our needs. Because change is the only constant in today’s environment, your customers expect you to respond to their spoken and unspoken needs.

Key questions which may help you develop a new strategy for today’s customers:

• Do you have a clear understanding of the customer’s needs and what matters most in the buying process?
• Do you have a compelling and unique value proposition that creates a differential customer experience?
• Do you fully understand what your customers want to buy and why?
• Do you understand how you can drive growth from both existing customers and new prospects?
• Will your sales strategy improve customer retention while identifying new prospects?

The two things that stuck out the most to me are (1) the relationship orientation bullet point, and (2) the fourth customer demand, solve our problems. The importance of maintaining strong customer relationships after the sale cannot be emphasized enough!

What do you think? Did this article cover it? What stands out the most to you? What do you feel that you and your dealership do really well when it comes to customer experience, and where do you think there is room for improvement?

(Read the full article here.)