3-1 The Power of Selling

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3-3 Chapter 3 The Power of Building Relationships: Putting Adaptive Selling to Work

3-4 Video Case The video, The Power of Relationships, features Tonya Murphy, General Sales Manager at WBEN-FMThe Power of Relationships In the video, she discusses the importance of relationships in the selling process

3-5 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?

3-6 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.

3-7 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

3-8 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

3-9 From Personal to Problem Solving Jeffrey Gitomer presents his theory on the single most important rule of selling Jeffrey Gitomer 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

3-10 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

3-11 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 siteCRM tool Source: Starbucks Corporation

3-12 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

3-13 Fore Relationships Suzanne Woo describes the secrets of using golf to build business relationshipsgolf 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

3-14 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

3-15 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

3-16 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 GitomerIntroducing Jeffrey Gitomer's Little Teal Book of Trust Through the book Jeffrey Gitomer has asked two important questions, “Who do you trust?” and “Who trusts you?” Source: Buy Gitomer, Inc.

3-17 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

3-18 When Times are Tough Deliver bad news using the following practices: – Open – Honest – Timely communication

3-19 The Good News about Bad News Sally Cordova from McKee Consulting talks about customer relationship management and how to keep a customer for life Sally Cordova 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

3-20 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

3-21 How do you Bring Value? In the video, Give Value First, Jeffrey Gitomer discusses the value of providing value to customersGive Value First He explains the importance of giving value to the customers without any expectations Source: Buy Gitomer, Inc

3-22 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.

3-23 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

3-24 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

3-25 Twitter Sells The video, How To Use Twitter To Network Before a Conference, features Mig PascualHow To Use Twitter To Network Before a Conference 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

3-26 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

3-27 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

3-28 Figure Social Style Matrix

3-29 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”

3-30 Table Selling Style Summary Insert Table

3-31 What is Your Selling Style? Take the Keirsey Temperament Sorter to determine your social styleKeirsey The Keirsey Temperament Sorter is the most widely used personality instrument in the world that helps individuals discover their personality type Source: Keirsey.com

3-32 Selling U

3-33 Networking—The Hidden Job Market Six power networking tips – Network with confidence – Join professional organizations – Create your networking list Create your networking list – Know what to say – Online professional social networking – Follow-up

3-34 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 Search the social networking job boards

3-35 Table Sample Networking List Insert Table

3-36 Figure Sample for Networking

3-37 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