I always enjoy “analyzing” the consumer buying process in different industries. For instance it doesn’t take much effort to sell a candy bar at the grocery store checkout. But it takes a heck of a lot of work to get a country to buy a Boeing 747.
This past week I met with both an insurance guy and a financial services guy (sales calls basically). I don’t need either, and imagine a great number of their appointments are with people who don’t want to change insurance or need a new money manager. But they make sales – so how does that work? And can we translate that to the web?
According to the financial services guy, there’s no way to makes sales in the financial services sector without first establishing a personal relationship with the clients, basically over coffee to start. In his mind even when people are shopping for what you have, unless you have a relationship with them they’re not doing business with you. The insurance guy felt the same way. [Read more...]