The New Experts

About the Author

Robert H. Bloom is a prominent figure in the field of business strategy, renowned for his extensive experience and insightful contributions. As the former U.S. chairman and CEO of Publicis Worldwide, Bloom has advised numerous firms on growth strategies, sharing his profound knowledge and expertise. He is also the author of The Inside Advantage: The Strategy That Unlocks the Hidden Growth in Your Business, further establishing his authority on the subject.

Main Idea

In The New Experts: Win Today's Newly Empowered Customers at Their 4 Decisive Moments, Robert H. Bloom addresses the dramatic shift in customer behavior brought about by the Internet and digital technologies. This shift has given rise to a new generation of customers armed with instant access to information, immense choice, and the ability to compare prices in real-time. As a result, traditional customer loyalty has declined significantly. Bloom offers a practical solution to this challenge: businesses must deliver what matters most to these empowered customers at four critical moments in their purchase progression. These moments are the Now-or-Never Moment, the Make-or-Break Moment, the Keep-or-Lose Moment, and the Highly Profitable Multiplier Moment.

Table of Contents

1. The Revolution in Buyer Behavior
2. How Buyers Took Control
3. Emotionally Driven Purchasing
4. Your 4 Decisive Customer Moments
5. Preference Gives You Advantage
6. Now-or-Never - Your First Brief Contact
7. Make-or-Break - The Lengthy Transaction Process
8. Keep-or-Lose - The Customer's Continued Usage
9. The Multiplier - Repeat Purchase, Advocacy, and Referral
10. The Urgency to Make Your Business 1st Choice

The Revolution in Buyer Behavior

Bloom begins by highlighting a seismic shift in the buyer-seller dynamic. In the past, sellers held the power. They controlled the flow of information, the terms of purchase, and even the timing and location of transactions. Buyers had limited options and often had to conform to the seller's terms. However, the advent of the Internet and digital technologies has flipped this power dynamic. Today, buyers have instant access to information, a vast array of choices, and the ability to compare products and prices in real-time. This newfound power has fundamentally changed how buyers make purchasing decisions.

Bloom provides compelling examples to illustrate this shift. In 2009, only 20 percent of car buyers were brand loyal, a stark contrast to the 80 percent loyalty seen in the 1980s. Similarly, loyalty among business travelers dropped from 42 percent in 2007 to 36 percent in 2009. These statistics underscore the decline in traditional customer loyalty and highlight the need for businesses to adapt to this new reality.

"Buyers no longer care which seller they buy from - which gives buyers all the power." - Robert H. Bloom

How Buyers Took Control

Bloom explains that the revolution in buyer behavior did not happen overnight. It was a gradual process fueled by technological advancements and an increase in choices offered by sellers. As sellers provided more options, buyers began to demand more information and greater convenience. The proliferation of websites, online reviews, and comparison tools empowered buyers to make informed decisions and eroded traditional customer loyalty.

Bloom describes how technology has enabled buyers to take control of the purchase progression. Today, buyers can access information about products, compare prices, and read reviews with just a few clicks. They are no longer dependent on sellers for information and can easily switch to a competitor if they find a better deal. This shift has given buyers unprecedented power and has created a challenging environment for businesses.

Bloom emphasizes that businesses must understand this transformation and adapt their strategies accordingly. To succeed in this new era, businesses must focus on the four decisive customer moments when they can influence buyers' decisions.