Brian Fetherstonhaugh, Chairman & CEO OgilvyOne Worldwide has released a report on the future of selling, based on the perceptive of some of the greatest salespersons across the world. In the era of social networking, buyers have access to more information than ever before. But, more information does not essentially imply better information. So, the prime objective of a seller in present day is to help buyers analyze information rather than stuffing them with further information overdose!
The AIDA model of selling, invented in 1898 by Elias St. Elmo Lewis, does not hold any relevance in the current day buyer-seller interaction. The funnel model of information flow from seller to buyer has been taken over by a zigzag and complicated buyer journey. Now, the buyer gets information and gives information about a product/service from or to a plethora of sources (specifically social media) respectively. Social Media has a huge influence on buying behavior with the digital word of mouth playing a vital game. Already 49% of sellers have accepted social media as their success key, whereas 73% of great performers claim social media to be the major sale enhancer.
The rapid emergence of f-commerce affirms the fact that social selling is impacting sales of the major ROI-savvy marketers like Procter&Gamble. It will be interesting to observe how social media changes buyer-seller interaction in the coming five years!
The Future of Selling – white paper