It’s unbelievable how quickly commercial and trading standards change now. Between the years of 1800 and 1950 (tides of history permitting), the standards of what made for good business sense largely stayed the same. Now, while some baseline common sense is still applicable, none of us can honestly know what the online sales market will look like in ten years.
This raises a question: What have the last ten years taught us about online sales, and can we apply any of those principles to help sustain us through an uncertain future? Of course, this depends on the industry you’re in, the product or service you’re attempting to promote, and the technological exposure you rely on.
However, we believe some of the following suggestions will make the most sense:
I’ll rewrite this with a much more relaxed, conversational tone that sounds like someone’s just having a friendly chat about sales:
Table of Contents
Preference Matching Is The Norm, Not A Luxury
Over the last decade, sales teams have found themselves dealing with customers who expect them to know exactly what they want before they even express it. Generic pitches have become increasingly irrelevant over the last decade, as buyers conduct thorough research before making a call or responding to an email.
They arrive at conversations already knowing what they’re looking for.
Preference matching has become so strong that it is now an expected norm, mainly due to the way buyers behave. Most are bouncing around different websites, reading reviews, checking out competitor pricing, and may even have simple procurement briefs that show what they care about.
Sales teams that pay attention, then, have a massive head start on everyone else.
This is why tools like ZoomInfo Copilot for optimized sales, which analyze all buyer behavior and suggest the most effective approach, have become so popular. What used to be a competitive edge has turned into something you can’t survive without in most online sales markets.
Alternative Payment Structures Are Expected As Standard
Traditional “here’s our price, take it or leave it” approaches have quietly disappeared from many industries because companies want subscription deals, usage-based pricing, or hybrid arrangements that their finance teams can work with.
Industries that built their entire model around one big upfront payment have completely restructured their offerings in pursuit of this goal, even if they have a minimum standard quote in place.
In line with this, many companies have become more careful about cash flow and risk management over the past decade. Nobody wants to commit large amounts upfront if they can spread payments out or tie them to results. Sales teams that can be creative with payment options, or are at least more accommodating than their competitors, are known to close deals more frequently.
The ability to offer various payment methods has become a key factor in addressing budget constraints and procurement requirements. Even if product features might be identical between competitors, the deal often comes down to who can structure payments in a way that makes financial sense for the buyer’s situation.
Data-Driven “Prospecting” Has Replaced Cold Outreach for Online Sales
Random cold calls and mass email campaigns have lost their effectiveness as prospects have become more selective about their time. When was the last time a cold caller tried to market you something that wasn’t a scam?
The idea that someone calls you outright for sales (outside of political canvassing) is a good sign that you’re being targeted, which shows a massive shift compared to the early 2000s. This is because successful sales teams spend considerable time researching prospective companies or clients before making contact.
They examine recent developments, consider the perspectives of decision-makers, craft a compelling pitch, and understand the current challenges facing the organization. When they finally reach out, they can have meaningful conversations about problems, or their newsletter can provide valuable insights.
In other words, volume-based to precision-based “prospecting” has changed how sales teams approach effective outreach for their online stores. Generally, we see that teams that focus on quality over quantity achieve higher response rates, better sales cycles, and higher conversion rates compared to those still stuck in the past. We see this as a positive change.
Multi-Channel Engagement
We discussed the importance of knowing your platform above, but you now need to adapt to several others. Websites are still relevant as a hub, but staying solely wth a single communication channel limits your ability to connect with prospects who consume information differently.
After all, a possible client might miss your email but notice your LinkedIn post, or they might ignore your tweet but see your story on Instagram as you update it throughout the event space that day.
Such multi-channel approaches work because they create more opportunities; however, management suites require constant attention, which is one of the biggest new approaches of marketing teams.
Working on a massive layout for a local magazine isn’t as pressing as curating a content schedule that consistently keeps you present, informative, and engaging to your audience.
After all, most brands recognize that having multiple touchpoints increases the likelihood that their online store’s message will reach a customer; however, they must also ensure that these touchpoints are novel to avoid sounding repetitive.
Relationship Building Should Last Further Than The Sale
It’s fair to say that business has always been about relationships. However, with numerous services and products that require ongoing use, closing a deal has become just the starting point of the customer relationship, rather than the final victory, so to speak.
This means that customers are often those who expect ongoing support, communication about new opportunities, and updates about potential issues that might affect their service. You may want to share deals this week, like some online stores do today, such as Origins.
As a consequence, customer acquisition costs have made retention much more profitable than constantly pursuing new business. In many industries, simple economies require keeping existing customers satisfied and growing their accounts over time, rather than starting fresh routinely as a sole approach.
Conclusion: Online Sales Lessons
With this advice, we hope you can see how the last ten years have taught us a great deal about online sales, and how you, too, might benefit from their consideration. Here’s to the next ten years in online sales!