SALES & MARKETING
Win Today or Relevance Tomorrow
HOW THE POWER OF CONSULTATIVE SELLING CAN HELP YOU GROW YOUR BUSINESS
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any brokers and agents in California are meeting with their sales managers to kick off a whole new year of big, intimidating goals. We all have different goals, whether it’s achieving a giant sales number, learning a new product, or adding a new territory. This article will give you tips for weaving consultative selling into your daily conversations to become more valued among clients and prospects to meet your 2016 goals. WHAT CLIENTS WANT It’s pretty simple why our clients chose us as their agent or broker. They want our expert help. They are too busy to do the research, compare pricing, and stay on top of legislation; they expect their agent or broker to do it for them. Our clients also expect us to understand their business. We need to know their operations, their competitors, their pain points, and their successes. As their agent or broker, it’s up to us to know their financial and business structure, their challenges, their competitors, and their goals. Consider helping your clients from a holistic business perspective. For example, are they trying to fill a specific position? Help them network. Are they running into a contractual challenge? Recommend legal counsel. A little effort will create trust, and enhance the business relationship, which will pay off for everyone in the long run. ASK QUESTIONS How do you become more consultative? Ask questions beyond what you need to get your job done. Find out what problems your client is trying to solve today and in the next three to five years. What pain points are the client’s problems creating? Do the problems span multiple departments or locations? Are the problems increasing? Are there competing issues? FEBRUARY 2016
BY JIM MCCABE
HOW DOES YOUR CLIENT OR PROSPECT MAKE DECISIONS Who is the decision-maker? Your contact may be in human resources or finance, but are there other stakeholders in the mix? Since every company is different, make sure that your sales presentations speak to the full audience ahead of time. It is 100% acceptable to ask who will be reviewing your proposals. It is 100% acceptable to ask if there are questions or areas you should cover in order to satisfy all parties, even those who won’t be present at your meeting. Know your client or prospect’s culture. When you present a solution, illustrate how it ties into their culture. Doing so will strengthen your offering, and show that you not only understand their culture, but also that you care about why it is critical to their success. That’s the sign of a true business partner, not just a transactional vendor. COST VERSUS VALUE In any industry, most buyers fall into two categories: those who value cost and those who value quality and service. The problem with buyers who value cost is that there is always a lower cost option. Always. Clients who only value cost will leave you at renewal if a cheaper option comes along. Be respectful of your own time, and seek clients who are looking for a long-term business partner. How? When you present your solution, show that you’ve done your research. Show them the math, not only for the sale, but also to show how it could save money in the long run or for employees. Show the additional benefits of your solution. Maybe it’s a tax benefit, increased employee communication and engagement, or something that could help human resources improve morale. If possible, offer evidence in favor of your solution. If you are offering something that will save employees money, demonstrate it with a graph or calculator. - CalBrokerMag.com -
RESEARCH IS CRITICAL TO UNDERSTANDING Adjust your message to your client’s needs. Ask what is possible before engaging. For example, if they say the budget is $30,000, don’t present something that is $60,000. If your client needs bilingual service, deliver that option. Show that you are listening. Secondly, use language that’s consistent with your client’s style. If they refer to employees at teammates, you should too. If they refer to locations as storefronts, you should too. Make it easy for them to translate your proposal into their terminology to share within their organization. VALIDATE BEFORE OFFERING YOUR SOLUTION Do your fact-checking. Ten minutes of your time could make a huge difference in your presentation. Also, investigate any internal politics. Is the issue the same in everyone’s eyes? Since your proposal may be shared across departments, make sure that you are sensitive to the whole organization. KNOW YOUR STRENGTHS Don’t try to be all things to all people. When you need help, find partners who provide that expertise. Don’t try to fake it; it will just backfire. Maybe that partner will remember you next time and give you an opportunity. GROW WITH YOUR CLIENTS Keep up on industry trends and forward meaningful information to your clients, whether it’s a news article about them or a competitor or about legislation. Join LinkedIn groups to get relevant news that helps you and your clients. Once you create value, you will be valued, and your clients will be more likely to stay with you and refer you to their peers. H Jim McCabe is a vice president of Sales Strategy for Sterling Administration. For more information, visit Jim.mccabe@sterlingadministration.com. CALIFORNIA BROKER | 15