16 technology


Lay foundations for the future as technology transforms business


Tim Walker, managing director of Taylor Made Computer Solutions, was present at the 2015 Asigra Global Partner Summit in Toronto where analysts from technology research experts Gartner identified current business trends. In his article in this magazine last month, Walker outlined how many of the lessons for IT companies detailed at the summit can apply to all businesses, driven by the way clients and consumers behave in a digital world. Here, in his second and final article on this topic, he gives further thoughts on how these developments require a change in approach from us all


Technology is changing competition


In a world where customers can quickly and relatively effortlessly research and compare products and services, the focus has shifted from the products themselves to the ”experience” around those products.


This makes it more important than ever for us to deliver innovation and outstanding customer service to make our businesses stand out from the rest.


Think about a visit to Starbucks – you’re not just buying a coffee, but the whole ritual and experience.


With that in mind, rethink the definition and value of your brand. Are you just selling your product? Or are you selling your expertise, your staff and your service? What sets you apart from the rest?


Every interaction or touch point makes an impression


Getting a customer on board is hard enough – but keeping them is the real challenge. Every interaction you have with that customer has a bearing on their opinion of you.


And while it takes a long time to build up trust, it is easy to lose it quickly. Gartner talk about the ”trust and erosion cycle” which describes how relationships can develop over time.


Trust develops at the start of the business relationship but fades away quickly if it is not nurtured.


A drop in trust is often a driver behind the decision to switch to a new provider. Conversely, remember that buyers are extremely likely to buy when they trust


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you and value has been demonstrated, particularly if you can help them maximise value from existing investment.


If there is a good relationship and constant review and innovation, it is easier to persuade an existing customer to buy more from you than it is to recruit a new one.


It’s time to bring our strategies up to date


Traditional sales models haven’t really changed since the 1880s – the problem being that it puts the customer last in a world where the balance of power has changed.


The days of being able to impose your product or business model on a prospect are long gone. Now the buyer of a product or service will be in a much stronger position and far better informed about what you and your rivals can offer.


The demands of the modern customer require new sales skills that offer flexibility based on their needs. By way of example, at Taylor Made we have put this into practice with a new model for our Securo data backup and recovery service – the price can change over time depending on the volume of data stored and the amount of times data is recovered by our customers, with customers who use it less often benefiting from discounts for needing to restore less data over time.


Look at your incentive plans and the structure of your sales offering – how can you innovate in a way that puts the customer first?


THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – SEPTEMBER 2015 This is only the beginning


We have only touched the surface of the way our business ecosystems are evolving – and the future will bring yet more change.


Ensuring that we understand now how market forces are going to impact our strategies down the line will ensure that we are well-prepared for whatever comes our way.


Now is the time to lay the groundwork. Review your ”sales funnel” to ensure you are fluid in your approach.


Think about how your customer base may change – if you are a regionally- focused business, could technology lead you towards a more national model – or even an international one? Could your product appeal to a wider range of clients or industries than the ones you currently operate in?


These are exciting and fast-moving times – but only businesses which truly listen to customers and challenge their own business practices will be able to reap the benefits in decades to come.


Details:


01329-239900 www.tmcs.co.uk


Follow TaylorMade on twitter: @TaylorMadeCS


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