Well, first of all, this did not happen suddenly. It happened over time. During the Great Recession of December, 2007 through June, 2009, a rough economy had the effect of “thinning the herd.” A lot of businesses didn’t make it. And those that did survive are the kind that hold the line on spending, expect more from their people (including vendors), and measure the results from any investment very carefully.
Whether you’re selling commodities, manufactured goods or business-to-business services, you can expect every client to be one tough customer. The weak customers are gone.
There’s a way to prepare for today’s more demanding customer:
The U.S. has been in recovery for 33 months now, far longer than the 19-month term of the recession. I can think of ten companies—quickly—that did not survive the period. Those that remain deserve our respect… and the best value we can muster. That means listening closely, solving problems collaboratively, and striving for the mutual win. Yes, it’s tougher today. But if you’re still in this business, you’re tougher, too.
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Mike Anderson is VP / Consumer Insights and Communication at The Center for Sales Strategy.