In today’s frantic marketplace it’s easy to miss the true winners. So many organisations spend so much money advertising, hyping and interrupting across a multitude of media channels, that other businesses begin to mistakenly believe that these organisations are hyper successful, and that they need to behave in a similar way in order to compete and sell more.
But, when you do some proper research, nothing can be further from the truth.
The companies that rely on promotions and advertising to sell their goods or services are the ones that are the most vulnerable, and the most likely to fail in the long-term. They have built a business model on marketing, hype and interrupting. And the minute they stop doing this will be the minute that their customers desert them in favour of someone else who happens to be shouting louder / selling cheaper at the moment.
A good example of this philosophy and practice can be seen in the branded fast food market. Take away the marketing, and many of these brands will die almost overnight.
So, what’s the alternative?
We suggest that in the world of two way mass communication, driven by the Internet and social media, the power of customer reputation and referral is the strongest sales and marketing force of all time.
We call this “slow selling”.
No, it won’t make you a fortune overnight, but it will drive long-term high growth in sales, repeat business, reputation, referrals, and continual low risk innovation around your core product and market area.
And it’s incredible how powerful advertising is at misleading us, because we all know that the last paragraph above is true, and yet we still believe the hype, while we all use products and services produced with the ‘slow selling’ common sense belief in mind.
- Google achieved market domination through customer experience, not clever marketing
- Amazon drive continual customer loyalty and sales growth through customer experience, not promotions
- Apple drive amazing levels of customer loyalty and cross selling through customer experience, not special offers
Of course this is all blindingly obvious common sense, but whenever has common sense been common practice?
Your challenge, if you want to be truly successful and profitable in the long-term is to slow down, stop trying to drive sales growth through advertising, fast offers and special deals, and, instead, focus on “slow selling”.
What is ‘Slow Selling’?
‘Slow Selling’ is a way of selling that focuses on quality, helpfulness, honesty and feedback to win customers’ long term trust and loyalty.
Slow Sellers aim to build sales and profits through winning customers through reputation, and referral, and keeping them through loyalty and mutual trust.