egyii blog

Marketing Institute of Singapore (MIS) Speech July 29, 2010

A brief overview of the challenging current selling and buying environment and how to deal with it. For presentation download: Trust-based™ Selling and Business Development

Please send an email to: trip.allen@egyii.com if you are interested in the article, Trust: The Core Concepts, which covers the 3 models that will help you develop trustworthiness and the article Can Trust be Taught?

For more information on the Marketing Institute of Singapore, please click here MIS.

Thank you for attending.

Trip Allen, Team Egyii, Singapore

In one of her blog postings Some Things Never Change, the HR Bartender (Sharlyn Lauby) reports on the results of the latest Robert Half International survey, showing that “35% of senior executives felt that unhappiness with management is the top reason for losing star employees.  This figure is up from 23% five years ago.  (FYI – for those of you who might be thinking pay is the second reason…think again.  It was fourth after advancement opportunities and lack of recognition.)”

Many reasons for low employee engagement and high employee turnover are given by companies, from unhappiness about having to accept lower pay during the downturn, to high career expectations. These may play a part, but often the perception of employees by management as being less important in creating a competitive advantage than product or service innovation and marketing strategy, is bound to send the wrong signals.

When management and senior leaders recognise that in today’s tough business environment, it is their people who have the potential to create that critical competitive edge that will see companies through this crisis, only then will they change their practices.  Changing practices means honouring the untapped potential in all your people, maintaining training and development initiatives, and creatively coming up with ideas on how to place employees at the centre of your strategic plan.

Only then will businesses find that the tough times can be managed and overcome.

James Irvine, Team Egyii, Singapore

Today, connecting is a difficult proposition. It is even tougher when you prospect.

There is no doubt that people are overly busy with their day to day personal and business tasks- and even worse, they are being “contacted” in more ways than ever: email, SMS, social media, and by phone (by “pesky” telemarketers to say the least).

It is a virtual flood out there.

How to prospect today? Differentiate in your approach

Even with all the technology and distractions today, people appreciate a real person and voice behind the attempts to connect. It just has to be done right. When was the last time you got a call from a bank with an un-targeted, sloppy approach? I got one the other day.

“Sir we can arrange a loan for you.”

“I don’t need a loan. And how can you make a promise like that- I might not even qualify?”

I challenged the caller with those questions- she had no response. Yes, I know it is her job. She is not to blame- it is management. She is following orders.

This is a  great example as to why people are being “bothered” by prospectors today, as this is an untargeted, “spray and pray” technique. There were also a lot of assumptions in this approach.

What really works? In order for the conversation to be successful, it needs to:

Achieve a goal

Satisfy a need

Solve a problem

What tools/skills does one need? The caller needs to:

Use the right opening statements, vocal techniques and rapport building skills to create interest and capture attention

Utilise conversational bridging statements to keep the customer engaged during the call

Ask effective questions in a logical order to discover the customers current situation, their stated needs and their hidden needs

Listen actively and accurately to capture relevant information first time and recognise the input and contributions received from the customer

Pick up on and respond to customer buying signals and clues that indicate the interest level of customer

Explain and link  the benefits of a product or service to meet customer needs, create interest and secure commitment versus relying on product features

Handle common customer objections by using the APART approach to keep the customer involved in the conversation and focused on the value the product will bring

Use a conversational close to ask for permission to proceed

Professionally close the call to leave a positive, lasting impression in both successful call outcome situations and when the customer declines to proceed

Yes prospecting is difficult…but it can be done. It is all about the approach.

For more, see Connect Through High Impact Sales Conversations

Andrew Sidwell, Team Egyii, Singapore

Four ingredients that turn any client interaction into an opportunity for exceeding expected results while simultaneously building trust. For more, click here.

Trip Allen, Team Egyii, Singapore

Whether you are a working for a large consulting company or an IT/Telecoms vendor, chances are you may be wasting one of your best resources to win business- the resources that are the least “threatening” with the most potential to influence; your professional services, consulting or sales engineering team.

Buyers buy from a non-rational (emotional) approach. Most companies (salespeople, consultants, engineers and services) approach it from a rational approach- that is positioning on a technical and/or a needs base basis. There is nothing wrong with this, however it needs to be recognized, because if it only goes to a technical or needs base basis, then chances are opportunities are missed and wasted.

As you build your relationship and the client relationship progresses, it moves from the  technical or needs base basis and  reaches its peak at the next level, the relationship level. Again, there is nothing wrong with this, but rarely does it reach the trusted advisor status, the highest status of all relationships.

Reaching a trusted advisor status opens up more opportunities by easing the lines of business and the relationship highways that need to be built for current and ongoing business.

It is also a BIG differentiator in today’s competitive services world, that everyone wants a part of.

What keeps most companies from meeting the trusted advisor status?

The sales organization’s “processes.”

The pressure of sales organizations tends to drive salespeople to be very “seller” centric, which then tends to drive the buyer away. This gives the professional services team the opportunity to be more customer or buyer centric (focusing on the buyer’s personal needs), as they don’t have the pressure to sell and close.

Most sales organizations treat their clients as “competitors,” often holding information back and not collaborating. They are often afraid to open up and share too much. Buyers value openness and openness build trust. Professional services team don’t typically feel the “heat” of the corporate led competition attitude – this gives them the opportunity be transparent and to collaborate.

Most sales people are not good listeners (and it’s not always their fault). They are focusing too much on the sales process, the outcome of the meeting, the “advance” and their own “seller focused” agenda. Professional services teams have a better opportunity to listen (once they get over their rational, technical product approach) and the power of listening builds relationships.

Most salespeople are short term focused- whatever it takes to close the deal to meet monthly or quarterly objectives. Buyers sense this and know it- and don’t necessarily like it. Professional services teams can capitalise by looking medium to long term- to build the relationship, to keep the client long term.

(I am not blaming the sales people for their faults- it is typically the system that drives their behaviours. The system, or sales process is typically a “one size fits all” process. A process is OK, it just needs to be flexible)

All of these models build trust. And trust transforms relationships, which transforms business.

The Personal and Risk Aspect

Trust and relationships are personal. Professional services teams appear to be less threatening in the eyes of the client, and therefore have great potential to become more personal, to build trust and relationships, and therefore influence, without changing the professional services teams status quo and making them feel “uncomfortable.” After all most professional services people are not salespeople and many don’t want to be.

The risk in buying professional services is also very high. Why?

The product is partially intangible and partially comprised of people knowledge and skills

The overall stakes are high

The range of outcomes can be wide and unclear

The seller typically has command of technical expertise that the buyer does not (which makes it somewhat threatening to the client)

There is financial and business risk–but there is great emotional and political risk as well. In a trusting relationship, risk is mitigated because the “transactions” become personal.

Is it time to look at your business, transform it and fill your pipeline by releasing your hidden weapon of influence- your professional services team? Give it a think. A big think.

Trip Allen, Team Egyii, Singapore

So many objections, so many solutions

Why are we always confronted with so many objections that stall the sale? And when we are, they become very difficult to resolve. There are many ways to confront objections and everyone often has their own “manipulative” techniques to counter….

“If I can do that price do we have deal?”

“Is that the only thing holding back?”

“What do I need to do to earn your business?”

“If I can offer a solution would you be willing to buy today?”

How well do these objection handlers really work?

Very often objections are based around price. When you reach a price objection, here is a tip:

“Is it a budget issue?” (can you afford it?)

or

“Do you see value in the solution?” (to discover if they are objecting on value not on price)

From there you have an idea where you stand. This advice is valuable in its time and place, but why reach this position in the first place? If you had done your work earlier, chances are this won’t happen.

The value of transparency in dealing with sales objections

As part of your build-up to the sale, prior to any objections (and as a tool during your objections) , if you are completely open you probably won’t encounter these objections in the first place and will be able to resolve them when they arise.

Buying is based on emotion. After the initial assessment of you and your products (which is a very rational approach) people tend to buy on emotion (non-rational) from people that they trust.

One way to build trust is through transparency. Transparency throughout. Before. During. After.

dictionary.com defines transparency as “a state of being transparent” and transparent is defined as:

Having the property of transmitting rays of light through its substance so that bodies situated beyond or behind can be distinctly seen

Easily seen through, recognised or detected

Manifest; obvious: example is “a story with a transparent plot”

Open; frank; candid: example is “the man’s transparent earnestness”

If you are not transparent in your actions, the buyer starts questioning your motives. Once the buyer questions your motives, she starts to fear you and what you are doing. And when fear sets in, what happens? Objections.

How do we conduct transparency?

Easy. Sharing. Sharing information with the buyer lowers suspicion because it encourages collaboration and openness, and this will bring out any objections earlier in the sale. Yes it appears to be risky, and risk causes you fear. Take that risk and get over the fear, because it certainly is easier to control your fear than the buyer’s.

Taking the initial risk is tough, but worth it. It will lead you into a more powerful, trusting relationship and may even help you get that sale…. and more.

(for a great article on handling price objections, see Meeting Price Objections from Trust by Charles H. Green, Trusted Advisor Associates)

Trip Allen, Team Egyii, Singapore

To support the business in changing and turbulent times, HR leaders are looking for ways to support their stakeholders and offer new ideas/programmes above and beyond the norm.

Why? Due to the pressure of the business. The pressure for profitability and the pressure to contribute more to the business.

How are the HR leaders looking to do this? The HR leaders are looking to supply the right tools, and some of the old tools may not work anymore. They also feel that they need to add more value to the business.

So what might work today?

We all know that HR needs to understand the business and needs to link learning and development to the business goals and strategies. That is a no brainer.

To date, HR leaders have exausted their efforts with the sales and sales management teams by providing sales training programmes that offer a scripted, burdensome process. These programmes have brought in results, but the HR Leaders should take it one step further- even as  the executives continue to look  for quick answers-and quick results.

Wait a minute. Quick answers and quick results? You have tried programmes that offer the quick answers and results already. Some work and some don’t. What to do next?

As an HR leader, shouldn’t you be in the position to advise the business? Shouldn’t that be your key role?

To provide value you should look to be a proactive advisor. And as an advisor, you can position business differentiators.

How to differentiate?

Soft skills.

Soft skills are truly in need today. And I don’t recommend that becuse Egyii’s business evolves around that. I (and others) believe  it.

Soft skills need to complement the current sales process and the product training.

Soft skills are the “glue” to keep it all together.

So why is it difficult to pitch to management? Is it because soft skills are difficult to measure? They don’t show “direct” results? If that is on the mind of your executive team, they need advice. Your advice.

Soft skills, such as relationship skills, are important as they complement the drive for immediate results.

They also build the pipeline.

…and they turn a prospect into a client and keep the client a client.

If you are focusing on programmes that bring immediate results, chances are you are losing the client, because they know when the sales pressure is on. Relationship building soft skills help relieve this pressure and give you the ability to sell immediately and medium/ long term…without losing the client.

Isn’t that what the business REALLY wants?

HR Leaders have the opportunity to be more active as advisors. Contribute more of your ideas to the business. Add more value by advising the business and offering new tools such as more targeted soft skills.

It may difficult to convince the stakeholders- give it a try.

For more, see:

Building and fostering client relationships.

Building and rebuilding trust.

Trip Allen, Team Egyii, Singapore

“I understand best when I hear, see and do!”

To be competent at any skill each participant needs to understand it both conceptually and behaviourally; have opportunities to practice it, get feedback on how well he or she is performing the skill and then use the skill enough so that it becomes integrated into their behavioural repertoire back in the workplace.

 Through eight years of successful client sales learning and development engagements I have developed the following tried and tested approach that encompasses the most effective learning dimensions to start the process of achieving sustainable behavioural change in your sales team.

To help participants acquire the skills, each Transformational Sales Module follows these steps:

Review of learning outcomes and behavioural standards and how they relate to enhanced performance in the business

Self Assessment Exercise to obtain a baseline performance level

Present Skill Concepts– either through experiential learning activities, case studies or presentations

Modeling exercise that allows participants to observe others exhibiting the desired skill behaviours

Participants practice application of skills and behaviours in structured activities based on job realistic scenarios

Participants receive feedback using the behavioural skills standards checklist to sign off as an indication of their level of mastery

Application questions to provide opportunities to check understanding of how skill behaviours relate classroom learning to real life situations

Personal Action Plans are set  to identify the development of specific personal behavioural changes to implement for successful transfer of knowledge and skills into the workplace

From my experience, this is what I believe to be a formula for learning success.

Andrew Sidwell, Team Egyii, Singapore

How do front-line sales professionals (Relationship Managers, face to face sales, client managers, Etc) effectively connect through high impact conversations?

Challenges to achieveing great sales conversations

There is no doubt that achieving sales targets, regardless of how they are achieved, has become the principle means of measuring success in many companies around the globe, regardless of what they all say they do for their customers.

That then becomes the root of the problem.

From that, we have observed that many conversations with customers are often driven by the sales person’s self interests on the basis of a product promotion, the profitability of a product, the amount of commission or incentive the sales person will receive or urgency to hit a specific target, a business need to increase market share etc. regardless of whether or not that is the right solution for the customer. 

Essentially there is rarely anybody taking a look at the overall picture for the customer, or even conversational guidelines to ensure that sales staff work together in the customer’s best interests.

So how do we  connect effectively and maxmise performance?

There are many well established approaches to selling; relationship selling, customer value selling, needs based selling etc. to suit different business needs and the current economic environment. Terms may change, tough times come and go, but the best practices of having a quality conversation that focuses on the clients best interests versus the sellers to maximize sales performance is still regarded as critical to success.

This would apply to anyone who manages a portfolio of customers on a relationship basis rather than a transactional one and seeks to enhance their ability, knowledge and behaviour to deliver a meaningful sales conversation that engages the client and deepens relationships with both new and existing prospects.

What will make this work?

In order to make programme that changes the focus from “us” to “them” successful, frontline sales professionals people need to be able to:

Assess their own communication strengths and weaknesses and the impact they have on others

Adapt and respond to the communication style, drivers of emotional needs and life stage of their clients

Develop compelling value positioning statements for opening conversations with prospects and existing clients over the telephone and in person

Ask for and gather information using bridging statements and reflective listening techniques to identify opportunities to create value for clients

Summarise and align solutions to the customers’ true needs to establish greater rapport with the client

Keep the client engaged in the conversation when handling client uncertainty or resistance to opportunity

Demonstrate conversational closing statements to confidently ask for the business

For related materials please see:

Maximising sales performance and skills.

Building and rebuilding trust.

Andrew Sidwell, Team Egyii, Singapore