Several years ago I keynoted at a very large international bank’s annual sales meeting, addressing the seventy-five sales professionals who target high net worth individuals. This was the cream of the crop from
their sales organization. Their target customer is an individual with a net worth between $10 million and $100 million. You would think that a group of sales professionals who sold to such a sophisticated client base had to follow some sort of secret code just to get access to an elite clientele. But as it turns out, the issues that a sales rep faces when selling to high net worth individuals is not all that different from those issues that are faced by a sales rep that sells to the average bear.
The principles that I shared with them seemed to be able to solve many of their sales challenges. Keep in mind that if you spend your time focusing on changing your premises and beliefs, more so than sales training, you will find that you have a bigger impact in how people respond to you.
Spend fifty percent of your time learning how to shape your premises to those of a top producer. Spend thirty percent of your time learning how to grow your personal development and sales strategy. Spend fifteen percent of your time polishing your habits. Spend only five percent of your time learning selling tactics.
Because the principles and premises that you follow make the biggest impact and give you a greater return on your time commitment, you must commit to adopting those beliefs that work for successful sales professionals. Integrate these three principles in your sales and recruiting process and regardless of how sophisticated your prospect is, you will have them thanking you for thinking enough of them to make contact with them.
First, follow the principle of emotional bank accounts. Remember that each relationship in your personal and professional life represents an emotional bank account. You cannot take a withdrawal from an account unless you first make a deposit. Asking for the order is a withdrawal. Asking for referrals is a withdrawal. Closing on the deal is a withdrawal. Too many sales reps and recruiters try to move too fast through the relationship and make withdrawals before they are ready. Your intention of service is a deposit. Your concern for your prospect is a deposit. Your commitment to them doing whatever is in their best interest, even if it means not buying from you, is a deposit. Your belief of your product or service is a deposit. Make more deposits than withdrawals that you take and you will always have an eager prospect ready to refer more business to you and buy from you.
Second, commit to following a moral code of ethics in your sales career. If you have a product or service which cannot benefit your prospect, then you have no business trying to sell it to them. If you do, then you are violating a moral code of providing service to others. But on the other hand, if your belief is tremendously strong in the value that your product or service can possibly bring to your prospect, then it is your duty to overcome any objection that they give you. When you have this level of belief, it really doesn’t matter what sort of sales tactics that you follow. They listen to your heart more than the words that you say.
Third, integrate the principle of personal contribution. Find out how your product or service can benefit them on the personal level, and commit yourself to mastering how you can communicate this value. Role play with your colleagues and managers. Find out from previous customers why your product or service benefited them, and share those stories with your prospects.
This week at your next sales meeting, print this article out and discuss it with your colleagues. Specifically, use these questions to guide your team at your next discussion:
-How does our product or service benefit our prospect on a personal level?
-Are we willing to pass up a sale if it does not offer a benefit to a prospect?
-If we do, what can we do to still benefit financially from that relationship?
-How do we go about putting deposits in the emotional bank accounts of our prospects?
-What are we not doing that we could do which would make deposits?
-How many deposits are required before we start making withdrawals?
-What is qualified as a withdrawal from a prospect?
Work together as a team to help integrate peak performance principles into your process, and watch how much easier it is to sell to your prospects when you do this.
Copyright © 2015 Scott Love
Scott Love is an expert on influence and high level selling. In addition to running a successful legal search firm, he is a popular keynote speaker at sales meetings for all types of sales organizations. Companies that want to increase their influence with high-level prospects hire him to speak at their sales meetings and conventions. To learn more how you can gain more influence with high-level clients, visit his website at www.scottlove.com.