Tom Madsen, MBA, the owner of Exclusive Collection, has a successful background in the export business in Germany for over 20 years. While the internet is praised for its ability to sell products, particularly fast-moving consumer goods (FMCG), traditional salesforces often struggle to adapt to the digital world’s new demands. There is a disconnect between online engagement and actual sales, especially for premium products targeting older customers.
The challenge lies in reaching the right audience for premium products through online methods, as the efficacy of these approaches depends on who is involved in the purchasing process. For instance, a furniture shopping center in Berlin targeting older customers utilized online advertising, despite its clientele being around 60 years old. This mismatch reflects a failure in marketing strategies, as older customers may not rely on platforms like Instagram and TikTok for product research.
As demographics shift, with populations in industrialized countries aging and living longer, the market for premium products among Generation-X and older consumers is expanding. Traditional sales approaches, reliant on store visits or client calls, are becoming outdated. Modern clients expect immediate access to information and solutions to their needs. By combining digital tools with traditional sales skills, companies can effectively engage with customers and boost sales.
The integration of customer relationship management (CRM) systems, lead generation tools, and AI solutions allows sales teams to target the right clients at the right time. By tracking online behaviors and interests, salespeople can tailor their approach to meet client needs effectively. The collaboration between marketing and sales departments, often at odds due to their different objectives, is essential for creating a cohesive strategy that drives profits.
The “golden triangle solution” involves appointing a manager to bridge the gap between marketing and sales, utilizing digital tools to target premium clients, and supporting the salesforce with training and feedback. This strategy ensures that companies cater to clients who may not respond to online advertising but have the financial means to purchase premium products. While the digital world offers new opportunities, traditional sales methods remain relevant for engaging with older, more affluent customers.
In conclusion, businesses must adapt to the changing market dynamics and the growing demand for premium products among older consumers. By aligning marketing and sales strategies, leveraging digital tools, and empowering sales teams with the right training, companies can effectively reach their target audience and drive profitability. The integration of modern digital solutions with traditional sales skills represents a winning strategy for companies seeking to capitalize on the evolving market trends.
