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The Power of Selling

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Chapter 3 The Power of Building Relationships:

Putting Adaptive Selling to Work

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Video Case

• The video, The Power of Relationships, features Tonya Murphy, General Sales Manager at WBEN-FM

• In the video, she discusses the importance of relationships in the selling process

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Video Ride-along Discussion Questions

• Discuss the importance of building relationships in the selling process.

• As a customer, recall a situation where the salesperson’s approach was more like a trusted friend. Discuss the approach taken by the salesperson. Did it influence your purchase decision?

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Chapter Objectives

• Understand why relationships are so important in selling.

• Explain how relationships bring value through consultative selling.

• Identify who wins in the triple win relationship model.

• Explain how networking builds relationships and businesses.

• Explain the concept of adaptive selling and how to use it.

• Understand how the social style matrix can help you be more effective in sales.

• Understand the role of relationships and networking in your job search.

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The Power of Relationship Selling

• To be successful in selling you have to make selling personal

• People do business with people, not with companies

• Relationship selling / consultative selling: Working personally with your customer to understand their needs, putting their needs first, and providing consultation to help them make the best decision for themselves or their business

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From Personal to Problem Solving

• Give the customers what they need rather than what you want to sell them

• Brands must understand how important each moment of truth is when creating relationships with customers

– Moment of truth: The moment the customer comes in contact with the brand

• Customer relationship allows you to bridge the gap between a customer’s problem and the solution

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From Personal to Problem Solving

• Jeffrey Gitomer presents his theory on the single most important rule of selling

• Jeffrey Gitomer is an American author, professional speaker, and business trainer, who writes and lectures internationally on sales, customer loyalty, and personal development

• In the video, Jeffrey Gitomer explains that liking leads to trusting and if the customer likes you, believes you, has confidence in you, and trusts you then he/she may buy the product/service from you

• According to Jeffrey Gitomer, it is very important that before becoming a trusted advisor the salesperson should become a friend

Source: Buy Gitomer, Inc

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From Personal to Problem Solving

• Consultative selling

– It makes a customer choose your product or service even when the competition is priced lower

– It defines the relationship before the sale, during the sale, and after the sale

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CRM Tools Help you Manage Relationships

• Customer relationship management (CRM) tools: Technology solutions that organize all of a customer’s interactions with a company in one place

– Makes it easier to understand the lifetime value of a customer

– Starbucks uses a CRM tool to power their MyStarbucksIdea.com Web site

Source: Starbucks Corporation

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Face Time

• Customer relationships in B2B selling require face-to-face communication

• Meeting with and entertaining customers is an important part of the selling process

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Fore Relationships

• Suzanne Woo describes the secrets of using golf to build business relationships

• In the video Suzanne Woo, author of On Course for Business: Women and Golf, shares her tips on using the game as a business tool

• According to Suzanne Woo, the golf course is not a place to talk deeply about a business issue, but a place to know, for your next business meeting, the agenda and what to talk about

Source: BNET

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R-Commerce

• It is relationship marketing, which establishes and builds mutually beneficial relationships

“Little things mean a lot? Not true. Little things mean everything.”

Harvey Mackay

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Trust Me

• Trust is a critical element in selling

– It is built on open and honest communication

– It is about building partnerships

“Consultative selling is less about technique and more about trust.”

Tom Reilly

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Trust Me

• The video, Introducing Jeffrey Gitomer's Little Teal Book of Trust, provides highlights of the breakthrough book, Little Teal Book of Trust: How to Earn It, Grow It, and Keep It to Become a Trusted Advisor in Sales, Business and in Life, by Jeffrey Gitomer

• Through the book Jeffrey Gitomer has asked two important questions, “Who do you trust?” and “Who trusts you?”

Source: Buy Gitomer, Inc.

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Underpromise and Overdeliver

• The best salespeople say they will do something by a certain day, and then not only do they do it, but they deliver it one day early

• Trust is built between salesperson and customer, and the relationship goes to the next level: partnership

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When Times are Tough

• Deliver bad news using the following practices:

– Open

– Honest

– Timely communication

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The Good News about Bad News

• Sally Cordova from McKee Consulting talks about customer relationship management and how to keep a customer for life

• In the video, Customer Service Five Ways to Deliver The Bad News, she discusses the tips for five ways to deliver bad news the right way

Source: Sally Cordova, McKee Consulting, LLC

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Triple Win: The Ultimate Relationship

• Triple win: All parties in a relationship win—your customer, you, and your company or organization

– It results in more business with your existing customers because you have become a partner in solving their problems, and it brings you new business in the form of referrals

– It plays a significant role in the negotiating process

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How do you Bring Value?

• In the video, Give Value First, Jeffrey Gitomer discusses the value of providing value to customers

• He explains the importance of giving value to the customers without any expectations

Source: Buy Gitomer, Inc

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How do you Bring Value?

• What is the difference between value-added services provided to the customers and giving value to the customer? Discuss with few examples.

• A flat 50 percent off on an apparel brand can be considered as which of the following: promotion or giving value to the customer? Discuss.

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Networking: Relationships That Work for You

• Networking: Art of building alliances or mutually beneficial relationships

• You should network; it’s a requirement to stay competitive, because it’s virtually impossible to do your job alone

• Building strong relationships with customers is an excellent way to build your network

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Networking Tips of the Trade

• Start with people you know

• Join and get involved in professional organizations

• Attend industry events

• Keep in touch

• Create a profile on the major professional social networks

• Be proactive

• Mind your manners

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Twitter Sells

• The video, How To Use Twitter To Network Before a Conference, features Mig Pascual

• In the video, he tells his story on how he used Twitter to engage and build professional relationships with people online prior to meeting them in person at a conference

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Putting Adaptive Selling to Work

• Adaptive selling: When a salesperson adapts, changes, and customizes her selling style based on the situation and the behavior of the customer

• The cornerstone of adaptive selling – Understanding diversity, or the different ways people behave

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The Social Style Matrix

• It is based on patterns of communication that characterize communication behavior based on two dimensions:

– Assertiveness

– Responsiveness

• Each of the social styles has specific characteristics that are important to keep in mind as you prepare and present your sales presentation

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Figure 3.4 - Social Style Matrix

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The Social Style Matrix

• Analyticals – They want to know “How”

• Drivers – They want to know “What”

• Amiables – They want to know “Why”

• Expressives – They want to know “Who”

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Table 3.1 - Selling Style Summary

Insert Table

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What is Your Selling Style?

• Take the Keirsey Temperament Sorter to determine your social style

• The Keirsey Temperament Sorter is the most widely used personality instrument in the world that helps individuals discover their personality type

Source: Keirsey.com

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Selling U

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Networking—The Hidden Job Market

• Six power networking tips

– Network with confidence

– Join professional organizations

– Create your networking list

– Know what to say

– Online professional social networking

– Follow-up

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Networking—The Hidden Job Market

• Social networking tips

– Make yourself stand out

– Publicize your profile

– Ask for recommendations

– Join groups

– Create content

– Search the social networking job boards

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Table 3.2 - Sample Networking List

Insert Table

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Figure 3.5 - Sample E-mail for Networking

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Summary

• Relationships are vital to success in most selling situations. When you understand what the customer wants and needs, you can provide solutions to help your customer meet his goals

• Adaptive selling occurs when you adapt and customize your selling style based on the behavior of the customer

• Networking is about exchanging value, not collecting business cards