Tag Archives: sales culture

Ego Management: How to Make the Smartest People Part of Your Life

By Jeff Beals

You have probably heard the saying, “To be successful, surround yourself with people who are smarter than you are.”

For better or worse, that hasn’t been terribly difficult for me.  I’ve been blessed with many intelligent, talented people in my career – colleagues, bosses, direct reports and friends.  I’m a better person and a more successful professional because of the gifted people in my life.

Whether you’re at work or in your personal life, surround yourself with smart and talented people.  If you are in a leadership position, hire people who are smarter than you.

Of course, that is easier said than done.

Surrounding yourself with more talented people can be very intimidating.  And a blow to the ego.  And even threatening!  Nevertheless, move forward with faith and conviction that you will be better served by teaming up people who are better than you at certain things.

Hiring Talented People

As a leader, have no fear of hiring people you think might pass you up some day.  It is better to be seen as a person who brings in and develops great talent than a person who protects the status quo by hiring mediocre or under-performing people.

Don’t Hide the Light under a Bushel

When you do end up employing an ultra-talented, hardworking individual, don’t try to hide them or prevent them from moving up just because you don’t want to lose them.  Great talent rises to the top.  Let the exceptional person move up.  In the long run, it will benefit you as they will remember and appreciate the role you played in boosting their career.  A former employee who makes it big can become a huge ally for you in the future.

Friends and Colleagues

Regardless of your professional role, identify talented friends and colleagues and build close relationships with them.  Another old saying tells us that you tend to become who you hang out with.  “You become the sum of your five best friends.”  Spending time with exceptional people makes you more exceptional.

Have a Mentor and Become One Too

Mentorship is one of the best professional development tools in existence.  We benefit both by being mentored and by mentoring others.  Find a successful role model and use that person as your mentor.  Some mentors don’t even have to know they are your mentor – just study them and do the things they do.  Other mentor relationships might be more formal.  At that same time, mentor someone yourself.  You actually become better in your work by teaching and coaching junior colleagues.  As I once wrote in a previous article, you don’t know it until you’ve taught it.  Mentorship is a classic win-win situation.

Different Intelligences

Here’s something that might help salve a bruised ego resulting from hanging around smarter people:  There are different kinds of intelligence.

Just because a colleague is smarter than you in one area doesn’t mean he or she is better in another.  Perhaps you struggle with creativity and idea-generation but have superior analytical skills.  Team up with the creative person and together you can accomplish more.  You might not be as quick to pick up operational details as a certain person but maybe you are better at building relationships and navigating institutional politics.

When it comes to intelligence and talent, we all need to identify our top strengths and biggest weaknesses.  You can maximize your strengths and mitigate your weaknesses by joining forces with people whose abilities complement your own.

Accountability

If you hire a team of exceptional people, it will be important to have a culture of accountability in your office.  Top performers expect to be held accountable and they expect that other employees in the company will be too.  Perhaps the most important person to hold accountable is yourself.  If you hold yourself to a high standard as a leader, your talented employees (even the ones more naturally gifted than you) will respect you and hold you in high esteem.

Speaking of “accountability,” I’m offering a webinar on June 5th at 10 a.m. Central Time called “How to Hold Your Sales Team Accountable.”

You’ll learn HOW TO:

1. Use 4 simple metrics that make it impossible for sales reps to hide weekly output and results
2. Implement 11 steps that will create a culture of sales accountability in your company.
3. Get reps to buy in to your accountability plan.

Investing just one hour of your time and only $49 will translate into bigger revenues, less stress and a happier work environment for everyone!

You are not going to want to miss out on this.  Register TODAY!

Jeff Beals shows you how to find better prospects, close more deals and capture greater market share.  Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant.  He has spoken in 5 countries and 41 states.  A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”

(402) 637-9300

Would You Benefit by Having a Coach?

By Jeff Beals

What do Tom Brady, Michael Jordan, Tiger Woods and Wayne Gretzky have in common?

They’re all world-class athletes who have won championships?  Yes.

They’re all incredibly famous?  Yes.

But there’s something else they all have in common.  Each had coaches who helped them reach the pinnacle of their sports.

Not only do athletes benefit from coaching, they probably would never win a championship without it.  Well, if coaching is so advantageous for professional athletes, it makes sense that other professionals would gain similar benefits from coaching.

I would argue that sales professionals benefit more from coaching than your typical professional.  Sales is not necessarily rocket science, but it does require you to master an array of differing skills and attitudes.

Mindset is incredibly important in sales, because the profession requires you to be passionate.  An accountant, for instance, can be bored to tears yet still do an effective job.  In many professions, you can hate your job, and even be turned off by the products your company sells, and still manage to be effective.

That’s not the case in sales where it makes a big difference when you’re excited about the product and a believer in the company.  But sometimes even passionate sales reps become discouraged when things go wrong: you hit a prospecting slump; the economy goes south or deals fall through at the last minute unexpectedly.  A coach can help you with mindset, keeping your energy and enthusiasm flowing when things don’t go your way.

Sales also requires a person to master somewhat dichotomous skills.  You need to be both an attentive listener and compelling presenter.  You need to have strong emotional intelligence skills yet be analytical when determining the profitability of a potential deal.

Should you have a coach?  That’s a personal decision, but the research tells us that those sales professionals who have access to coaching enjoy more success.  And that applies to sales professionals of all levels – from chief sales officer to entry-level sales rep.

Coaches come in a variety of forms, but most are informal coaches.  The typical way to get a coach is to find someone in your company who can advise you and help you grow as a professional.  That can be a boss, an experienced colleague who wants to give back or even a person from a different department or company who enjoys helping people succeed.  Some sales pros will work with a retired sales leader they happen to know.

Of course, you can also hire professional sales coaches.  There are many companies that provide this service.  If you go that route, ask around and find someone who has had a good experience with a sales coach and feels like they got a lot of value for their money.

What do you look for in a coach?  First and foremost, you want a good listener.  You want to find a person who wants to see you succeed but won’t just simply give you all the answers.  A good sales coach will do some teaching and advice sharing but mostly helps you come to your own conclusions about how to build a more successful career.

I recommend you share your goals with your coach and use those as part of your conversations.  Great athletes have goals they’re trying to achieve.  Along with their coaches, those athletes constantly monitor the progress they’re making and push themselves to greater heights.

Jeff Beals shows you how to find better prospects, close more deals and capture greater market share.  Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant. A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”

Here’s Why Should You Choose Jeff Beals as Your Next Speaker:

“Jeff Beals has presented four different topics at five of our internal events this year. At each event, the audience of commercial real estate principals and agents was completely engaged and motivated the entire time. Jeff facilitates his training sessions in such a way that each member of the audience was able to relate and understand how to apply it every day in the field. Jeff is brilliant, and we have hired him to continue speaking at our events next year!” – Lindsay Fierro, Senior Vice President, NAI Global, New York, NY

I’m in Phoenix and had breakfast earlier this morning with our semi-retired sales representative who is doing some continued work for us here.  He attended your sales meeting last week and told me that in 43 years of selling, you were the best he had ever heard.  Thanks for a great experience.” – Drew Vogel, President & CEO, Diamond Vogel Paints, Orange City, IA

“Our corporate partnership team had great takeaways regarding how to network smarter while also understanding the importance of our personal brand to current and prospective partners. Jeff does a great job weaving in real-world examples and how you can apply his teachings to growing your business and building long-term partnerships.” – Jason Booker, Senior Director of Corporate Sponsorships, The Kansas City Royals Major League Baseball Team

+1-402-637-9300

info@jeffbeals.com

How Sales Professionals Can Harness the Power of Persuasion

By Jeff Beals

Some people are blessed with a natural ability to get what they want.

They have an innate ability to influence people, sway opinions and win arguments.  While such “mind powers” are instinctive to some, most of us have to work hard to persuade people to our way of thinking.  Fortunately, persuasion and influence cannot only be learned; they can be mastered.

Have you ever read Robert Cialdini?  He’s the “Godfather of Influence” and the author of Influence: The Psychology of Persuasion, one of the most influential business books of the past 30 years.  More recently, he authored Pre-Suasion: A Revolutionary Way to Influence and Persuade.

Much of Cialdini’s work is focused on helping people master “leadership’s greatest challenge – getting things done through others.”  But the skills employed by accomplished leaders are quite similar to those needed in sales.  Let’s look at Cialdini’s Six Principles of Influence through a sales lens:

Liking

The principle of liking says that people like those who are like them.  You should “uncover real similarities and offer genuine praise.”

Cialdini uses the example of a Tupperware party to illustrate how liking works. The hostess invites friends and family members. Because the attendees like the hostess, they’re far more willing to buy Tupperware products.  For example, my wife finds herself at a handful of parties each year for multi-level marketing products such as Tuppperware.  Inevitably, she ends up buying something just to please her friend (the hostess).

The two most significant factors affecting liking are similarity and praise. People are more apt to like people who are similar to them.  If you praise other people – even if that praise isn’t terribly merited – they are much more likely to like you.

What does that tell us?

Sales managers should sales representatives who have similar interests and backgrounds as the targeted prospects. Sales reps should take time after meeting new prospects to establish common ground.  Find excuses to compliment your prospects on their companies, products, careers and accomplishments.

Reciprocity

According to the principle of reciprocity, people have a tendency to repay in kind.

Do unto others as you would have them do unto you – The Golden Rule has been scientifically proven to be true.  Cialdini says any manager can be the beneficiary of good behavior by displaying the same behavior to others first.

The same applies to sales professionals.

Gift giving is a somewhat primitive example of reciprocity, but I have had success reaching prospects by first sending them a little gift.  Simply because I mailed them a copy of my books or a unique gift that relates to their company, I am much more likely to reach them on the phone.

Social Proof

This is my favorite of Cialdini’s principles because it relates directly to sales: “People follow the lead of similar others.”  We should “use peer power whenever it’s available.”

Cialdini cites a study in which researchers went door-to-door collecting donations for a charity.  When people answered the door, the researchers showed them a list of neighborhood residents who had already donated to the charity. The longer the donor list, the more likely prospective donors were to contribute.

Social proof is why references, testimonials and referrals are so important in sales.  Take time to collect testimonials and make them available to prospective clients.  Get a referral from a respected source before making a prospecting call.  Your success rate should rise dramatically.

Consistency

“People align with their clear commitments,” Cialdini says. “Make their commitments active, public and voluntary.”

Cialdini says if you supervise an employee who should submit reports on time, get that understanding in writing (such as a memo or email); make the commitment public (perhaps by sharing it with people in other affected departments); and link the commitment to the employee’s values (such as the impact of timely reports on team spirit).

This is why winning mini commitments is so effective in selling. If your prospective client agrees to something up front, you are more likely to close a sale with them. Perhaps you could summarize the outcome of a meeting in an email and ask the prospect to email you back confirming that everything you said is accurate.

Authority

The principle of authority says that “people defer to experts,” and Cialdini advises you to “expose your expertise; don’t assume it’s self-evident.”

While it is critically important for sales people to listen more than they talk when sitting in front of prospective clients, you do need to take at least a little bit of time to demonstrate your credentials and backgrounds.

Scarcity

People naturally want more of what they can have less of, Cialdini says, so highlight unique benefits and exclusive information.”

Cialdini writes about a time when wholesale beef buyers’ orders jumped 600 percent when they alone received information on a possible beef shortage.  Provide exclusive information to persuade.  When you tell people they are getting information before everyone else, they are more interested.  If people know they have access to something that is closed to others, they value it more.

Sales professionals might want to make special offers or upgrades available to the best clients first, or in some cases, only to the best clients.

In the end, sales professionals can gain a clear advantage by employing  Cialdini’s six principles, but keep a few things in mind – Trust is one of the most important components to completing a sale especially a complex, high-ticket-price B2B transaction. If you use these principles with an exploitative and manipulative heart, you will hurt your chances of creating a recurring client.

The other key to selling is value. You must discover exactly what prospective clients value and then deliver products and services which deliver that value exactly. If you fail to do that, the principles of influence will ultimately be ineffective.

Jeff Beals shows you how to find better prospects, close more deals and capture greater market share.  Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant. A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”

Here’s Why Should You Choose Jeff Beals as Your Next Speaker:

“Jeff Beals has presented four different topics at five of our internal events in 2016. At each event, the audience of commercial real estate principals and agents was completely engaged and motivated the entire time. Jeff facilitates his training sessions in such a way that each member of the audience was able to relate and understand how to apply it every day in the field. Jeff is brilliant, and we have hired him to continue speaking at our events in 2017!” – Lindsay Fierro, Senior Vice President, NAI Global, New York, NY

“Your workshop was a huge experience for our attendees by giving them the opportunity to improve their work in the critical environment in which we are living today. Your talent as a speaker and your qualities as a person made the difference during your time with us. I would certainly recommend you to anyone who asks.” – Ana Paula Costa, Educational Planner, Febracorp, Sao Paulo, Brazil

I’m in Phoenix and had breakfast earlier this morning with our semi-retired sales representative who is doing some continued work for us here.  He attended your sales meeting last week and told me that in 43 years of selling, you were the best he had ever heard.  Thanks for a great experience.” – Drew Vogel, President & CEO, Diamond Vogel Paints, Orange City, IA

“Our corporate partnership team had great takeaways regarding how to network smarter while also understanding the importance of our personal brand to current and prospective partners. Jeff does a great job weaving in real-world examples and how you can apply his teachings to growing your business and building long-term partnerships.” – Jason Booker, Senior Director of Corporate Sponsorships, The Kansas City Royals Major League Baseball Team

+1-402-917-5730

info@jeffbeals.com

Sales Detox: What Do You Need to Stop Doing?

By Jeff Beals

A year ago my wife was on a mission to purge our house of clutter.

She read the book, “The Life-Changing Magic of Tidying Up: The Japanese Art of Decluttering and Organizing,” by Marie Kondo.  She took it to heart and tore into the basement, closets and anywhere else we happened to be storing non-essential stuff.  For the next month, I would regularly come home to find “give-away” piles ready to be loaded into the back of my SUV and hauled off to the donation dock.

Eventually she involved the kids and me in this undertaking.  We asked ourselves whether we really needed to keep things.  If we weren’t using them or didn’t find sentimental value in them, they were either trashed or donated.

Our house has always been tidy and well organized, so I took delight in teasing my wife about her great purge of 2016.  To this day, if I can’t find something, I (good naturedly) accuse her of “decluttering it” or putting it through the “Japanese process.”

But I have to admit her decluttering process made our lives easier.  We’re not bogged down with useless “stuff.”  We have room to breathe.  It makes it easier to focus on more enjoyable or high-value things in our lives.

Just as the decluttering process can make your home life more efficient, it can do wonders for your professional life as well.  But I’m not talking about decluttering your office or organizing your file drawers.  I’m talking about decluttering your work life.

The longer you have been working in sales, the more unnecessary stuff you accumulate in your brain, on your calendar and in your job description.  Sometimes that stuff needs to be purged.

I challenge you to ask this question:  “What do I need to stop doing?”

Sales people are notorious for adding things to their plate without taking things off.  Why?  Salespeople tend to be ambitious and very confident in their abilities.  They want multiple ways to prospect even if one prospecting method hasn’t paid off much in the past.  They tend to be independent personalities, rugged individualists who think they can do it all.  Sales professionals know they need to persevere in an eat-what-you-kill environment, so they don’t give up or accept defeat lightly.

Those are great traits, essential for long-term success in sales, but they are traits that can burn you out if you’re not careful.

So what are some things you might want to STOP doing?

Blowing off leads

Fifty percent of sales leads never receive proper follow-up.  That is probably the greatest waste of resources in the sales world.  If you let leads fall through the cracks because you’re focusing on less important things, by all means, stop doing it.

Poor Qualification

Stop wasting time on people who will never buy.  For whatever reason, many sales reps latch onto prospects who look good on the surface, but deep down, you know they’ll never buy from you.

Networking for the sake of networking  

Some sales people never miss an event.  They are on umpteen boards and committees and are always running from one meeting to the next.  Why do they over commit and run themselves ragged just trying to keep up with all of it?  Prospecting!  They are afraid, they’ll miss out on their next dream client if they are not at every event.  While I’m a big proponent of prospecting through networking, you must be efficient.  If a time-chewing obligation is not regularly producing convertible leads, don’t trick yourself into believing you have to be there.

Cold Calling

Less than 1 percent of sales people enjoy cold calling. And it’s for good reason.  It takes a huge amount of time and it hardly ever works.  Cold calling is just about the most inefficient way you can prospect, yet many salespeople still do it.  I say STOP it.  Instead of cold calling, research prospects first.  Soften them up with marketing activity.  Use a combination of ways to reach them, always focusing on something they may value.

Lack of Focus

Stop wasting time on non-sales functions.  Sales professionals are often drafted by upper management to serve on company-wide projects or task forces.  This is especially true if you are a senior leader in the sales division.  Sales people tend to have first-hand knowledge of customers and buying trends, so they are valuable contributors to these company-wide groups.

But be careful.  I’ve seen sales professionals sucked into so much committee work having nothing to do with sales that they have hardly any time left to sell.  The United Way, for instance, is a fine organization, but do we really want our sales reps on the United Way employee committee instead of working the phones and hitting the streets?  Sales is the lifeblood of the company; we need all sales hands on deck.

Would you like to know the single most important thing to stop?  Counter-productive thinking.  No matter how successful you are, you probably cling to some negative ideas.  Every sales rep is at least occasionally afflicted with self doubt.  Whatever negative things you harbor in the deep recesses of your brain, now is the time to perform a Japanese decluttering miracle on them.

So, consider this permission to declutter your sales career and liberate yourself.  What do you need to STOP?

Let go and enjoy the results.

Jeff Beals shows you how to find better prospects, close more deals and capture greater market share.  Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant. A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”

Here’s Why Should You Choose Jeff Beals as Your Next Speaker:

“Jeff Beals has presented four different topics at five of our internal events in 2016. At each event, the audience of commercial real estate principals and agents was completely engaged and motivated the entire time. Jeff facilitates his training sessions in such a way that each member of the audience was able to relate and understand how to apply it every day in the field. Jeff is brilliant, and we have hired him to continue speaking at our events in 2017!” – Lindsay Fierro, Senior Vice President, NAI Global, New York, NY

“Your workshop was a huge experience for our attendees by giving them the opportunity to improve their work in the critical environment in which we are living today. Your talent as a speaker and your qualities as a person made the difference during your time with us. I would certainly recommend you to anyone who asks.” – Ana Paula Costa, Educational Planner, Febracorp, Sao Paulo, Brazil

I’m in Phoenix and had breakfast earlier this morning with our semi-retired sales representative who is doing some continued work for us here.  He attended your sales meeting last week and told me that in 43 years of selling, you were the best he had ever heard.  Thanks for a great experience.” – Drew Vogel, President & CEO, Diamond Vogel Paints, Orange City, IA

“Our corporate partnership team had great takeaways regarding how to network smarter while also understanding the importance of our personal brand to current and prospective partners. Jeff does a great job weaving in real-world examples and how you can apply his teachings to growing your business and building long-term partnerships.” – Jason Booker, Senior Director of Corporate Sponsorships, The Kansas City Royals Major League Baseball Team

+1-402-917-5730

info@jeffbeals.com

The Only Sales Knowledge You’ll Ever Need

anthony-iannarino-book

By Jeff Beals

In his new book on selling, Anthony Iannarino asks readers to finish this sentence: “I sell ___.”

He then writes, “If you answered anything other than ‘outcomes,’ you are wrong. If you answered with your product, service or solution, your answer is so off the mark that it might destroy your ability to succeed in sales.”

Iannarino then goes on to quote the late economist Theodore Levitt, who said, “People don’t want to buy a quarter-inch drill. They want to buy a quarter-inch hole.” In other words, customers are purchasing desired outcomes even if they are technically purchasing the means of creating outcomes.  Those sellers who realize what they are truly selling have a tremendous advantage over the great mass of ordinary sellers who are obsessed with products and services, features and benefits.

Among 19 meaty chapters of non-stop sales wisdom, the above quotes illustrate perfectly just how much value you’ll find in Iannarino’s The Only Sales Guide You’ll Ever Need (Portfolio Penguin, 2016) which was just released a couple months ago.

Iannarino is an internationally acclaimed sales consultant and trainer as well as creator of one of the world’s most popular sales blogs.  In writing the book, he set out to explain why a small number of salespeople in any field are hugely successful, while the remaining common sales folk are mediocre or worse.

Some call it the “80-20” rule (and in some industries, it’s more like the “90-10” rule), but it’s essentially true – Twenty percent of sales people account for 80 percent of the business.  Everyone else is fighting over the scraps.  I certainly don’t want to dwell among the unexceptional 80 percent and hopefully you don’t either.

So, why the discrepancy among the haves and have-nots in the sales profession?  Iannarino’s answer is simple and straight forward – It’s all about the seller.  If you are in sales, you and you alone are responsible for your success and failure. In other words, you can decide to be a successful sales professional, and that decision is independent of product, service or industry.

Sales success, according to Iannarino, is not situational nor is about the market. It’s about the individual sales professional.  That leads us to a burning question: How do you make sure you’re part of the distinguished 20 percent?

The answer is divided into two parts which correspond to the two primary sections of Iannarino’s book: 1. your mindset, which includes beliefs and behaviors; 2. your skill sets.

The mindsets include self-discipline, positive attitude, competitiveness, resourcefulness, persistence and a few others. Once you thoroughly understand and adopt these mindsets, Iannarino says you can then start mastering the mechanics of selling.  Here are thoughts on just a few of his skill sets:

Closing Deals

Iannarino argues that selling effectively is all about gaining commitments.  You need to be an ethical and consultative seller while assertively asking for commitments. There are numerous mini closes in the buying process such as the commitments to devote time, to explore, to change, to build consensus, and to invest resources.  Each time you get a small commitment, you move the buyer closer to the finish line.

Prospecting

Never wait until you need to prospect as it should be something you do perpetually whether times are tough or you have so much business you can hardly keep your breath.  Regarding the art of prospecting, Iannarino says, “You can’t cram prospecting. It must be a daily discipline. Block out time every day.”  He also says, “Prospecting is a campaign, not an event. It’s a series of touches that lead to a conversation and an opportunity to meet.”

Business Acumen

In the olden days of selling, sales people got by as long as they had extensive product knowledge.  That’s becoming less important now, because so much information and so many reviews of products are available online. Innarino says today’s “dream clients” want salespeople who will partner with them and guide them to a better future.  Clients want trusted advisers.  In order to provide that kind of high-level value, you need business acumen.

How do you get business acumen?

Constantly read and study business, get mentors, play close attention to what clients say. Ultimately, you must know much more than what you sell. While this in some ways seems obvious, Iannarino says that business acumen is still rare in sales. Don’t worry so much about product knowledge that you don’t know enough big-picture stuff to help your clients truly improve their R.O.I.

In the end, successful salespeople stay ahead of their competitors in a dynamic selling environment.  Because of globalization and many other factors, Iannarino believes that selling is more difficult today than it was in the past. That’s despite all the technological advances that have made a salesperson’s just easier in other ways.

To become an elite sales professional, I highly recommend The Only Sales Guide You’ll Ever Need.

I have had the chance to talk with Iannarino on a couple occasions. His brain is packed with sales knowledge and experience. The sales world is fortunate that he finally decided to put that knowledge in a tidy, organized book that delivers amazing value.

Jeff Beals shows you how to find better prospects, close more deals and capture greater market share.  Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant. A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”

Here’s Why Should You Choose Jeff Beals as Your Next Speaker:

“Jeff Beals has presented four different topics at five of our internal events in 2016. At each event, the audience of commercial real estate principals and agents was completely engaged and motivated the entire time. Jeff facilitates his training sessions in such a way that each member of the audience was able to relate and understand how to apply it every day in the field. Jeff is brilliant, and we have hired him to continue speaking at our events in 2017!” – Lindsay Fierro, Senior Vice President, NAI Global, New York, NY

“Your workshop was a huge experience for our attendees by giving them the opportunity to improve their work in the critical environment in which we are living today. Your talent as a speaker and your qualities as a person made the difference during your time with us. I would certainly recommend you to anyone who asks.” – Ana Paula Costa, Educational Planner, Febracorp, Sao Paulo, Brazil

I’m in Phoenix and had breakfast earlier this morning with our semi-retired sales representative who is doing some continued work for us here.  He attended your sales meeting last week and told me that in 43 years of selling, you were the best he had ever heard.  Thanks for a great experience.” – Drew Vogel, President & CEO, Diamond Vogel Paints, Orange City, IA

“Our corporate partnership team had great takeaways regarding how to network smarter while also understanding the importance of our personal brand to current and prospective partners. Jeff does a great job weaving in real-world examples and how you can apply his teachings to growing your business and building long-term partnerships.” – Jason Booker, Senior Director of Corporate Sponsorships, The Kansas City Royals Major League Baseball Team

+1-402-917-5730

info@jeffbeals.com

Is Cross-Selling Actually a Bad Thing???

By Jeff Beals

Thanks to widespread media coverage of the recent Wells Fargo fake-account scandal, the sales profession has a new villain.

It’s called, “cross-selling.”

And you might add another villain to the list:

“Sales culture.”

In Wells Fargo’s world, cross-selling is the practice of getting customers to open and use as many of the bank’s products and services as possible. Some critics have claimed the practice led to a sales culture that incentivized employees to open unauthorized accounts.

Wells Fargo was fined $190 million a few weeks ago for opening nearly 2 million accounts without obtaining permission from customers. Wells Fargo revealed it has fired 5,300 employees who were found to have defrauded customers.  Some employees have sued Wells, claiming they were pushed by management to engage in unsavory selling tactics.

The process has apparently been going on for quite some time as evidenced by this clip from a Fortune magazine article in 2009:

“Wells, more than any big bank, makes its money by lending. It focuses on consumers and midsize businesses, which tend to be more profitable customers than Fortune 1,000 corporations that can raise money from many sources. And Wells relentlessly cross-sells everything, including credit cards and mortgages (to consumers) and treasury-management services and insurance (to businesses). Wells persuades each retail customer to buy an average of almost six products, roughly twice the level of a decade ago. Business customers average almost eight products per customer.”

Wells Fargo has rightly been criticized for the practice, and its CEO has been dragged before a Congressional committee.  Customers, government regulators and members of the public have understandably been outraged.

But whenever a big corporate scandal hits the news, you guarantee there will be an abundance of knee-jerk, overreactions.

Media coverage has cast a negative light on cross-selling and the existence of sales-oriented corporate cultures. However, bad behavior in one company does not necessarily mean that cross-selling and “having a sales culture” are bad things.

I had lunch yesterday with the owner of a mid-sized manufacturing company.  We were talking about how he could increase his sales but then pointedly said, “I don’t want us to have a sales culture at our company where we end up cross-selling like Wells Fargo!”

Uh oh…I’m afraid cross-selling is getting an undeserved bad name. I respect the business owner’s strong desire to maintain an ethical company, but is he jumping too far too soon?

Is cross-selling really all that bad?

No.

Companies need sales cultures where employees are incentivized to sell more. Companies need to cross-sell in order to maximize revenue and deliver the best products/services to customers.

Companies are selling organizations, period. Your company may manufacture a certain product, may deliver a certain service or may develop new intellectual thinking, but none of that matters if you don’t sell it.  What’s more, if a given product at your company is perfect for a given client, there’s a good chance that one of your complementary products may also be of value.

A sales-oriented culture is necessary to stay in business.

How do you know if your sales culture is okay?

The best way to avoid a sales scandal and treat customers ethically is to focus on customer value. The key is to determine exactly what your customers truly care about and then do an outstanding job of delivering it.

Meanwhile, communicate accurately, honestly and promptly with your clients.  If you are only selling what customers value and making sure they are well informed and constantly kept in the loop, you can be proud of your sales culture.

As long as you are the trusted adviser, the person who puts clients’ needs before your own, there will be plenty of opportunities to cross-sell thus making both you and the client very happy.

There’s a big difference between opening fake accounts, the existence of which customers knew nothing, and having a company culture that simply maximizes the ways you can engage a customer.

Jeff Beals shows you how to find better prospects, close more deals and capture greater market share.  Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant. A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”

Here’s Why Should You Choose Jeff Beals as Your Next Speaker:

“Jeff is sure to deliver an engaging and motivating speech! He cleverly ties together his stories and makes the speech end with a punch. Being the closing speaker is tough, but he stepped-up to the challenge and hit a home-run. Due to the high ratings and overwhelming response to re-watch his speech, we are planning on using his video during our NextGen watch party.”  – Megan Dotson, Senior Client Success Consultant & Event Director, GovLoop.com, Washington, DC

“Your workshop was a huge experience for our attendees by giving them the opportunity to improve their work in the critical environment in which we are living today. Your talent as a speaker and your qualities as a person made the difference during your time with us. I would certainly recommend you to anyone who asks.” – Ana Paula Costa, Educational Planner, Febracorp, Sao Paulo, Brazil

“Our corporate partnership team had great takeaways regarding how to network smarter while also understanding the importance of our personal brand to current and prospective partners. Jeff does a great job weaving in real-world examples and how you can apply his teachings to growing your business and
building long-term partnerships.” – Jason Booker, Senior Director of Corporate Sponsorships, The Kansas City Royals Major League Baseball Team

“If you are considering hiring Jeff, I will only say this: do it now. His ability to connect with an audience and explain the importance of telling the story is nothing short of extraordinary. The true litmus of any great speaker is authenticity. And when authenticity is coupled with an incredibly high amount of energy, humor, and engagement – you get Jeff.  I would highly recommend him to anyone who needs a speaker attendees will talk about for a long time to come.” – Alison Cody, Executive Director, Manufacturers’ Agents Association for the Foodservice Industry, Atlanta, GA

“I’m in Phoenix and had breakfast earlier this morning with our semi-retired sales representative who is doing some continued work for us here.  He attended your sales meeting last week and told me that in 43 years of selling, you were the best he had ever heard.  Thanks for a great experience.” – Drew Vogel, President & CEO, Diamond Vogel Paints, Orange City, IA

+1-402-917-5730

info@jeffbeals.com