Since the launch of Do Not Call (DNA) Registry in Singapore in 2014, it has make life a lot more difficult for many sales people, in fact all. Many telemarketing centres wind up, telesales departments dissolve and telemarketers lose their jobs. We understand that DNC is a subset of the Personal Data Protection Act (PDPA) and the value of data has rise significantly since then.
We are no longer in an IT world, but a DT revolution. IT refers to Information Technology while DT stands for Data Technology, quoted from Jack Ma, Chairman of Alibaba Group.
Data has become the most valuable assets since then and the future. Many start ups are set up just to gather big data to increase the valuation of their company and eventually sold their company off with all its assets (including data). Cost per leads on the internet and social media platforms has increased drastically too. Marketing cost especially digital marketing has rise over these years, making it more unaffordable to compete with big players who can burn more. Uber and Grab are one of the good examples of burning marketing money to compete for more eyes balls on the internet.
Such marketing tactics are good for gaining traction and awareness but not directly effective for conversion, especially for B2B sales which are typically complex in nature. Other than online marketing, many B2B salesperson still choose to engage back into the conventional sales activities like attending networking sessions, door knocking, road shows and even flyers. Mainly was because of the lack of internet skill set or marketing capital.
Marketing is the responsibility of the business itself, not the sales or business development people.
In the past centuries, consumers are always demanding services to be at their door steps. That’s why we are receiving sales and service calls daily, to an extend of too many perhaps. Now we have a peace of mind from receiving all the anonymous calls as well as those opportunity calls. That’s basically like Chemotherapy, destroying the bad cells by killing all cells!
Alternatively, we are being offered a solution though and that is the internet. We can find, research and compare all the services provided online. Initially, it seems okay as there were only small reasonable number of choices we have on the first page of google. However with the rapid growth of internet users and businesses going online, it might actually cause us a great heck of headaches of choosing and comparing the right choice.
Consumers nowadays would need to be more proactive compared to the previous passive, we need to spend more time researching and reading reviews before narrowing down a whole lot of choices to a few. Is it a good problem to have?
How can we have a win-win strategy towards an efficient and effective ecosystem?