Sales 2.0

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McKinsey on Marketing & Sales

Less time with customers, more sales success

Sales

@JenStanley3 | @McK_MktgSales | #s20c | @Sales20Conf 2
74% 42% 39%
GET FRUSTRATED
65%

@JenStanley3 | @McK_MktgSales | #s20c | @Sales20Conf 3
1 Split excluding all customers who did not use after-sales and/or did no re-purchase
SOURCE: McKinsey & Company B2B customer survey across various industries from the US, UK and Germany
FIRST PURCHASEPRE-PURCHASE
POST-PURCHASE1RE-PURCHASE1

@JenStanley3 | @McK_MktgSales | #s20c | @Sales20Conf 44McKinsey & Company
In 2020, about
1.7 mega-bytes
of new
information will
be created every
second for every
human being on
the planet

@JenStanley3 | @McK_MktgSales | #s20c | @Sales20Conf 5
SOURCE: 1,200 buying decision makers
All other
Slow
response
rate
Sales style is too
aggressive
Lack of industry/
business
knowledge
Forgotten after
contract signed
Lack of
product
knowledge
TOO MUCH
CONTACT

@JenStanley3 | @McK_MktgSales | #s20c | @Sales20Conf 6
DIMINISH
DELAYDELEGATE
DELETE

@JenStanley3 | @McK_MktgSales | #s20c | @Sales20Conf 7
5-year revenue
growth
+48%
5-year EBITDA
growth
Industry peers
Companies
interviewed
+80%
OF SUCCESS FROM 5
SETS OF MINDSETS &
BEHAVIORS
100%

@JenStanley3 | @McK_MktgSales | #s20c | @Sales20Conf 8
Find growth before
your competitors
Sell the way
your customers want
Invest in your
sales engine
Focus on
your people
Lead
1 2
3
4
5

@JenStanley3 | @McK_MktgSales | #s20c | @Sales20Conf 99
Thank you!
McKinsey on
Marketing & Sales
jennifer_stanley@mckinsey.com
@JenStanley3
www.linkedin.com/in/jenniferstanley/
Jennifer Stanley
Expert Partner
Boston Office
617.753.2002

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Spanish consumers are pessimistic about the economy. Rising prices, unemployment, and the invasion of Ukraine are top concerns, and consumers are trading down. In Spain, consumers are most concerned about rising prices, unemployment, and the invasion of Ukraine. Their views of the current and future state of the economy remain pessimistic, at a level comparable to attitudes in the early months of the COVID-19 pandemic. Spend for groceries and gasoline soared, while consumers reduced money directed to savings and spent less on non-essentials. Of the 80 percent of consumers who have assumed new shopping behaviors in the last three months in search of value for money, more than half tried private labels. Trade-down in retailers visited and brands is evident, with the key drivers of choice being prices and value for money. However, 39 percent of consumers say they plan to splurge in 2022.

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COVID-19 is no longer among Italian consumers’ top concerns. Consumers remain pessimistic about economic recovery and inflation; many aim to reduce their spend. Italian consumers are increasingly worried about the effects of rising prices and the invasion of Ukraine. Unemployment is a number-two concern for respondents in Gen Z, millennials, and the low-income group. Almost six out of ten share a negative view of Italy’s current economic state; hopes for an economic recovery are lower than during the entire COVID-19 pandemic. Consumers observed the highest price increases in groceries and gasoline. To cope with inflation, Italian consumers are changing their purchase behavior, shifting toward discounters and private labels. The leading factors for these choices are prices and value for money.

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Across the continent, the pattern holds: Europeans are anxious about the state of their countries’ economies, and worried about the future. Russia’s invasion of Ukraine and price inflation overshadow other concerns, and consumer anxieties in turn are impacting confidence in household finances and national economies, especially among vulnerable populations. Worried about spending more on food, transport and fuel, consumers report cutting back on less essential items. Most say they’ve changed their shopping behaviors in recent months, trading down to more affordable brands and retailers. With no relief clearly in sight, 2022 continues to prove a challenging year for the continental consumer.

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Spanish consumers are primarily concerned about inflation and the invasion of Ukraine, and are becoming increasingly pessimistic about the economy. Only 14 percent of Spanish consumers are optimistic about economic recovery, with concerns focused on inflation and the invasion of Ukraine. Four in ten have an increasingly negative sense of the economic outlook—mostly due to petrol and supply-chain shortages, as well as unemployment. Price-increase Perceptions of price increases are particularly high regarding groceries (at 95 percent) and other household products. In these categories, more than half of respondents have reacted to inflation by trying less costly brands. Over the last six weeks, half have tried a private-label brand, 30 percent have switched brands, and a quarter have tried out a different retailer.

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Italian consumers are increasingly pessimistic about the economy, with many aiming to reduce spending and modify consumption habits. Italian consumers are increasingly worried about the effects of rising prices, as well as the invasion of Ukraine. Of Italians surveyed, six in ten expressed a negative view of the current economy; hopes for an economic recovery are lower than they were throughout the entire COVID-19 pandemic. Consumers perceived the highest price increases in groceries and fuel, along with strong increase in spend. These sentiments have translated into reduced consumption. Changed consumer behavior is also apparent, with a shift towards discounters and private-label brands. Price, value for money and availability are the biggest drivers of these choices.

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