What do you consider to be the most powerful tool in the sales leader’s and sales executive’s toolkit?

That is a question that I posed, via Survey Monkey, to sales and executives and leaders worldwide. The results are not surprising.

Responses came in from close to 100 executives (93 to be exact). Here is the breakdown.

Persons polled

Senior Management: 29.3%

Sales Management: 43.9%

Sales Executives: 19.5%

Inside Sales: 2.4%

Other: 4.9%

Geographical breakdown

Asia Pacific: 63.4%

North America: 26.8%

South America: 0%

Europe and UK: 9.8%

Middle East and Africa: 0

Other: 0

Results

A sales process: 26.8%

Product and technical knowledge: 4.9%

Relationships: 63.4%

Company knowledge: 2.4%

Branding and marketing: 0%

Other: 2.4%

Comments

Clearly, relationships are most important. So why don’t more Senior Sales Managers and Sales Managers focus on relationship building soft skills? Is it not sexy? Not sexy because it can’t be measured with hard numbers? Most probably.

With a score of 0% for branding and marketing, isn’t it time that sales and marketing start to integrate more? Think of all the dollars paid for marketing and branding; how is that measured?

Your thoughts on the matter would be appreciated.

(Thank you to those who contributed)

Trip Allen, Team Egyii, Singapore

Relationships. They start with a one-on-one connection (and that connection does not need to be a first time connection). But, no doubt, the connection can be tough. But if you get it right, you get it right.

How?

Everyone is human; therefore, most people desire a human connection. The question is “how?” That is where the chicken and the smile theory comes in.

The Chicken.

Throughout my world travels, I often find myself in remote villages. In these villages, the common creature (other than the human), is the chicken. Chickens have their universal language; the cluck. The only language I can speak is in these villages is “chicken.” Cluck. Cluck. So in order to connect, I act like a chicken and cluck…not to connect with the chickens, but with the villagers. They love it. They smile and gather around. I have connected.

So, the point is, there is a way to connect. You just need to find that means of connecting (and it may be a bit risky- but worth the try!). It could be with a topic: sports, news, family. Or something you may have in common. Or it could be some sort of gesture.

The Smile.

The smile is my favourite gesture. It is the universal means of communication and connecting. It is amazing what happens when you smile.

Relationships start with a connect. Keep in mind that everyone differs in the way they connect, so you may need to be sensitive. And if one thing doesn’t work, try a smiling, to connect the dots, to start your relationships. It rarely fails.

Trip Allen, Team Egyii, Singapore

Marketing Institute of Singapore (MIS) Keynote July 2, 2010

Buyers of complex services and products today are wiser and smarter than ever before.  Gone are the days of product pushing, old sales techniques and not connecting at a high level with the buyers.  What do buyers really want?

For more see MIS Keynote July 2, 2010.

Trip Allen, Team Egyii, Singapore

If we want become great communicators, we need to know how to step back and see the communication process as it happens. This means that we are able to notice the kinds of words, body language and voice qualities that a person is using and use this information to understand how that person thinks.

One of the most important understandings of Neuro-linguistic Programming (NLP) is that ‘the map is not the territory’. We take in information from around us through our senses, in particular our sight, hearing and feelings. We then interpret this information in our own individual way, depending on a whole host of things such as our beliefs, experiences, upbringing, culture etc.

In other words, we create our own individual map of reality – and this is always going to be different from what is  actually ‘out there’ i.e. the ‘territory’. Not only that, every person’s map will be different from everyone else’s.

To be great communicators, then, we must be great observers. Only when we have taken the trouble to stand back and notice how another person is communicating can we begin to understand their map. How do they express themselves? What kinds of key words and phrases do they use? What do their gestures and facial expression tell us? What are they saying with their tone of voice?

A final word: just being aware that other people’s maps are different from our own is a simple step towards communication excellence, as this creates tolerance and a desire to investigate and understand. This alone can help us to create great performance.

James Irvine, 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

Gong Xi Fa Cai 正月

Happy Lunar New Year.

May the Year of the Tiger be ever so prosperous to you and your family!

Team Egyii, Singapore

No doubt that the financial crisis has spanked the image of banks and financial institutions in the eyes of the client. Not all institutions have practiced the force feed of complicated products on unsuspecting clients, but all institutions have undoubtedly suffered the consequences from the overall reputation of the financial world.

No matter what marketing efforts or executive initiatives are made, it will be difficult to change the client’s perspective.

So what now?

(for the answer, see the following Egyii White Paper: The Trust Edge for High Net Worth/Private Wealth Relationship Managers)

Trip Allen, Team Egyii, Singapore

 (A true story)

Successful.

Uneducated.

Wealthy.

Four priority bank accounts.

Four banks.

Four different Relationship Managers.

There is a fifth bank that also wants his business.

The fifth bank will get his business- if they do it right.

Why and how?

This particular “prospect” is an acquainance of one of the bank executives. The prospect is open with the executive, shares his personal life, discusses business matters and financial matters, socializes regularly with him, talks sports and even shares aspects of  his social life. He respects the bank executive for his knowledge and there appears to be no threat. He is comfortable with the relationship. They are friends. 

Interestingly enough, the bank executive is not a relationship manager- he is not in sales.

How does the bank executive do what is best for the bank, and “convert” this into a sale? That is the dilemma.

Clearly the “prospect” is an unsettled man. He has new-found wealth and is somewhat leery of the people around him. This is probably why he spreads his wealth between four banks and four relationship managers.

How many times have you come across this or a similar situation to this?  A situation where there is a bond or relationship between a client or prospect and a non-sales related executive? From my experience in my days of technology sales, quite often the relationship was between the client and the sales engineer. Is that because there was no “threat” from the sales engineer? Was he providing more value? Was he not chasing the sales for the close?  Most probably.

So why is this happening and why does it happen? And how do we turn the banking scenario around and turn it into a “sale?” I will let you figure that out on your own.

For related articles (and for a clue to why this may happen) see:

Two Simple Keys to Success in Sales

Want to Add Value in Your Sales “Process?” Try Adding Trust

The Agile Mind of a Salesperson: Motivation

Trip Allen, Team Egyii, Singapore

There are  two things that typically motivate a salesperson- money and personal success. (Personal success = achieving goals, positioning a product you admire in an industry you like, building personal and business relationships, Etc)

I will be touching on building successful relationships as the important aspect of personal success in this article.

Money

Most people assume that all salespeople are driven by money, and most salespeople say they are purely in it for the money (just to pound their chests and impress their boss).

Money is a big factor for sales, otherwise why would anyone put up with the daily grind of forecasting,  threats from management when the numbers are not met, getting down on your hands and knees begging for a deal, Etc.

Relationship Success

Many salespeople are in sales because they love the people aspect of it. They like to connect, build a relationship, add value and become a trusted advisor. They like to walk hand-in-hand with the client, bringing them the best advice and solutions available. Overall, they feel a great sense of accomplishment – it is a great feeling. There are great advantages to this as it builds loyalty and therefore better medium to long term business. And it builds friendship.

Money and Relationship Success

In many instances, salespeople are driven by both motivators. Is this the best of both worlds? Maybe.

In Conclusion

So, as much as many would like not to believe,  sales and salespeople are not all about money. And money may not be the best single factor for motivation because  there are alternative methods of obtaining money through commissions and bonuses without having to bury yourself with the company dogma and the personal quota pressure.

These alternative methods of obtaining money (and rewards) can be found through other personal drivers (or personal successes), which ultimately lead to sales and therefore commissions (=money).

But if it is all done right, then money can be one of  the many rewards.

Do you see or know of any other things that motivate salespeople?

Do you think it is best to be motivated by money or personal satisfaction or a combination of the two?

Please comment.

 (You may also be interested in Why Don’t Companies Focus More on Relationships?)

Trip Allen, Team Egyii, Singapore

“Trust-based selling is not tied to any particular process; instead, it depends on attitudes and values based on principles. It is a human process” Charles H. Green, Trusted Advisor Associates.

Prudential Life: A Trust-based Selling success story*

A few years back, Priscilla Myers took over sales and marketing for Prudential’s (US) life insurance agency business. She had no prior experience in sales whatsoever. Prudential’s chairman at the time said “It’s about people. You’ll figure it out.” That she did.

Within 6 months, Priscilla violated four common sales principles. First, she announced in a price competitive business, that Prudential would not compete solely or primarily on price. Then, she de emphasized quotas to her sales force. On several occasions she agreed with customers who said Prudential’s valid proposition to them was inferior to a competitor’s. Finally, she developed non-legally binding sales agreements with her key customers.

All of these sound like suicidal policies in today’s cutthroat business world. Yet, Priscilla’s unit achieved growth of more than 40 percent in the first full yer, well ahead of plan. Second year results were even better. What did she do?

She believed that she needed to build a long term relationship with the client. To do that, she worked with (not against) the client, looked at the big picture and focused on the long term.  She also saw things from the client’s perspective and all agreements were built on a mutually beneficial basis.

Priscilla didn’t use a set of clever sales tactics or a magical sales process. Nor did she focus on a competitive strategy. Her actions emerged from a deep belief  that, if she focused on helping her customers, her needs would be met as well.

Priscilla was customer focused for the sake of the customer, not for the sake of getting the sale. She was willing to be transparent, she adopted a medium-long term and collaborative approach. Priscilla did something “radical.”

That is Trust-based Selling- and it works.

(*based on a true story and an excerpt from Trust-based Selling, by Charles H. Green, Trusted Advisor Associates)

Trip Allen, Team Egyii, Singapore