Logo
English
 View all posts

Psychology of Sales in the Metals Industry

Psychology of Sales in the Metals Industry

digitalisation

January 15, 2020

The human being is a biological machine that builds connections with people. And if we connect with people, we surely need to sell something about us all the time. You can sell by phone, email, or via internet platforms. But even though selling is a lot about engaging with other people, and built strong connections, that does not mean we have to be face to face for it all the time.

Digital

Digital tools are the megatrend of the 21st century. It is the beginning of something completely new that changes every day of our lives without that we even realize it. If in the 19th century the phone was an amazing progress in communication technology, which changed the way selling is done, it is nowadays digital platforms.

We all struggle to change and we will always do. Changing means to get rid of something that we dedicated so much time and attention to, to then start a new journey full of unknown things. How could we not be afraid and scared of it? We are still humans after all. Changing means new connections in the brain. It means that our brain will grab onto everything it has to then transform it into something new.

And that is exactly the same that is happening with sales processes.

Digitalization

The digitalization of the business is the most important change for every company that wants to stay “in” the business in this century and beyond. There is no other option really. We live in a digital world now. The rules now are different than 20 years ago!

Selling is a game. Technology is a tool for it.

Digitalization does not mean that you are going to do business in a completely different way. It means that your business will grow faster, become more efficient and that you will free up time by having information more organized and easier to access. That’s the power of digitalization. Let’s take a look at Metalshub, a digital platform to buy and sell metals and ferroalloys.

Sellers who believe they can maintain the same customer relationships without any digital tools will be gradually left behind. With increasing competition, market challenges and the digital technology available in the market, you have no other choice than turn digital tools into an advantage for you.

Metalshub gives you the technology that you need to maintain your competitive edge

There is nothing to be afraid of! You will register for Metalshub, you will check what is going on in the market, you will send offers, and you can still manage your customer relationships by phone or face-to-face in a personal meeting. You will save time and the number of errors will significantly decrease. Less paper, less emails and less Excel. One platform which gives you a new and innovative tool to grow your business.

So why are some sellers struggling with this change?

Because we are all humans, and we tend to believe that if the way we have done things in the past worked well, it will continue to work well in the future. This is a cognitive bias which behavioral decision-making scientists call “projection bias”. Business success is determined by the capacity of changing and adapting to a changing business environment. This may require effort and a clear mind.

Digits

If you are a numbers lover, we will give you a few that you will definitely love

• Only 10% of the companies in the metals industry use digital tools for their purchasing activities. These 10% are on average more profitable than the other 90%.

• Using digital tools can save 20-30% of the time spend on traditional purchase and sales processes

• Companies which are leaders in digital transformation are more likely to attract top talents – their kununu employer ratings are on average 0.7 stars higher compared to digital innovation laggers

The future of metals trading is digital. With or without Metalshub, the metals trading industry is changing. And it is really good that you are living is this amazing time full of digital innovations. And here’s a tip from psychology for you: Changing will always bring you some amazing learnings that will put you one step ahead of your peers. Take a deep breath and embrace it with joy!

Join Metalshub now in order to benefit from digital processes and contribute to a more efficient market for ferroalloys and metals!