Transcript Project Title - John Stockmyer's Summer 2013 Intro. Page

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
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Discuss the importance of building relationships in the selling process.
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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
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Understand why relationships are so important in selling.
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Explain how relationships bring value through consultative selling.
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Identify who wins in the triple win relationship model.
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Explain how networking builds relationships and businesses.
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Explain the concept of adaptive selling and how to use it.
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Understand how the social style matrix can help you be more effective in
sales.
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Understand the role of relationships and networking in your job search.
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The Power of Relationship Selling
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To be successful in selling you have to make selling personal
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People do business with people, not with companies
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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
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Give the customers what they need rather than what you want to sell
them
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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
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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
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Jeffrey Gitomer presents his theory on the single most important rule of
selling
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Jeffrey Gitomer is an American author, professional speaker, and business
trainer, who writes and lectures internationally on sales, customer loyalty,
and personal development
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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
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According to Jeffrey Gitomer, it is very important that before becoming a
trusted advisor the salesperson should become a friend
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http://www.fastcompany.com/blog/fast-company-staff/fast-companyblog/innovation-customers-have-conversations-brands-have-good-r
Source: Buy Gitomer, Inc
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From Personal to Problem Solving
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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
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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
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Customer relationships in B2B selling require face-to-face communication
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Meeting with and entertaining customers is an important part of the
selling process
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Fore Relationships
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Suzanne Woo describes the secrets of using golf to build business
relationships
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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
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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
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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
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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
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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
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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
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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
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Trust is built between salesperson and customer, and the relationship goes
to the next level: partnership
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When Times are Tough
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Deliver bad news using the following practices:
– Open
– Honest
– Timely communication
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The Good News about Bad News
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Sally Cordova from McKee Consulting talks about customer relationship
management and how to keep a customer for life
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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
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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?
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In the video, Give Value First, Jeffrey Gitomer discusses the value of
providing value to customers
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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?
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What is the difference between value-added services provided to the
customers and giving value to the customer? Discuss with few examples.
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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
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Networking: Art of building alliances or mutually beneficial relationships
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You should network; it’s a requirement to stay competitive, because it’s
virtually impossible to do your job alone
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Building strong relationships with customers is an excellent way to build
your network
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Networking Tips of the Trade
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Start with people you know
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Join and get involved in professional organizations
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Attend industry events
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Keep in touch
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Create a profile on the major professional social networks
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Be proactive
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Mind your manners
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Twitter Sells
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The video, How To Use Twitter To Network Before a Conference,
features Mig Pascual
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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
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Adaptive selling: When a salesperson adapts, changes, and customizes her
selling style based on the situation and the behavior of the customer
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The cornerstone of adaptive selling – Understanding diversity, or the
different ways people behave
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The Social Style Matrix
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It is based on patterns of communication that characterize communication
behavior based on two dimensions:
– Assertiveness
– Responsiveness
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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
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Analyticals – They want to know “How”
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Drivers – They want to know “What”
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Amiables – They want to know “Why”
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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?
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Take the Keirsey Temperament Sorter to determine your social style
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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
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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
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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
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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
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Adaptive selling occurs when you adapt and customize your selling style
based on the behavior of the customer
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Networking is about exchanging value, not collecting business cards
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