The magic formula for a post-Covid sale
So what matters most to buyers when making a purchase decision in a post-Covid world? Is there some killer combination that will unlock purse strings and accelerate the sale?
We’ve got bad news.
Our research shows there is no single standout factor. Today’s buyers want it all:
- A vendor that understands their challenges
- One who has a solution to match at a reasonable price
- A vendor who’s known in the industry and is recommended by others
- And one who’s a thought leader and can deliver a compelling sales pitch
In most markets, there are very few truly bad options when it comes to choosing products and services. Market economics have largely killed off poor performing vendors.
In this environment, the winners will be those that can display an edge in multiple areas – and who don’t have an Achilles heel in any single one.
These will be the companies that get known as the ones to watch. They will ascend to leading brand status. As a result, they’ll be the ones that easily spring to mind when a buyer thinks about the category or a challenge related to it.
The good news is that marketers on the whole agree.
Over two-thirds of marketers believe customers will value their brand’s broader purpose and mission as a top buying consideration.
But just a quarter of buyers agree.
There has been a lot made of communicating a wider purpose for today’s brands. For many marketers, it’s seen as a way to give the brand greater depth and differentiate it in markets where products and services are viewed as broadly the same. For gurus, it sells books and gets speaking gigs.
The problem is, on the whole, customers don’t appear to care.