People used to agree “the salesman’s only asset is his Rolodex”. It seems the company still makes this device, but for anybody who doesn’t know it, the Rolodex is a cylindrical device for storing index cards. This was where the salesman stored all his customer contact records. Of course, now we have great technology like Front Office to help us with this task, but in the old days all they had was index cards, and the Rolodex.
But the term Rolodex didn’t just mean cards with names and addresses.
What they meant by Rolodex was what we would call network – relationships we can use to get introductions, influence people, references, information, the inside track – people who’ll help us, if we’ll help them. Things haven’t changed. The best sales guys are the ones with the best network.
But, they didn’t really mean network either. What they meant was integrity, because you can’t have a network (or Rolodex in their terms) if people don’t trust you. So they really meant “integrity is a salesman’s only asset”.
Contrary to what most amateur sales people think, people do not buy from people they like. It might be hard to grasp but people don’t really enjoy buying from people they like. The fact they like each other implies some level of personal relationship, and the creative tension of the buy/sell process can put that relationship at risk. How do you tell your golfing partner your moving your account from his insurance brokerage, because he’s been doing a poor job for years?
When we’re buying we don’t want to hold back from doing the best for ourselves. We certainly don’t want to worry about hurting the sales reps feelings. So, we probably prefer to buy from somebody we don’t empathize with. This doesn’t mean we have to dislike them, just that we don’t want to live with them.
So how do we choose who we want to buy from then, if it’s not people we like? Well, we’re probably going to choose somebody who can advise us toward the best combination of product/service/price to meet our needs. We’re going to buy from somebody who tells us the truth, and somebody who will stick around to help out if the delivery goes wrong.
In other words we’re going to want to buy from somebody we trust – somebody with integrity! Somebody who tells us the truth, even when it’s to their disadvantage, somebody who tells us things we don’t want to hear because we need to know, somebody who doesn’t agree with us just because we’re the customer.
That same integrity is what helps us build the types of network that people used to describe as the Rolodex. People who want to do business with us, because they can trust us.
Insist on being treated like a business partner
Relationships between buyers and sellers rarely start from a platform of mutual respect. Naturally the buyer holds the budget, and the seller wishes to exchange products and services for it, in the process making a profit. The decision as to how and when that budget is spent rests in the hands of the buyer. The buyer begins the sales process with a level of authority the seller doesn’t have. This situation isn’t positive for either party. Whilst it may achieve the lowest possible price for the buyer, it gives no assurance as to the quality of what’s delivered and the on-going commitment, by the seller, to the customer’s satisfaction. There is no shortage of examples where what, initially, seemed to be a fixed price actually turns out to be the equivalent of an open cheque book for the supplier. All we need to do is look at how successful governments are when buying decisions are based on lowest price.
To make sure any transaction between the two parties delivers customer satisfaction, there’s a need for it to create additional value for both. This needs a balance in the relationship which isn’t present at the start. The seller’s job is to persuade the buyer of the benefits of such a balance. Of course this is easier said than done. Buyers don’t easily relinquish their authority, and sellers don’t easily give up on the chance of a commission cheque.
The answer lies in adopting the mindset of the businessman – wanting to do business, but only on terms that make sense. In exploring opportunities the businessman highlights the synergies between both parties interests, explains his value add and lays out what he expects in return. If at any time the two parties decide there aren’t enough synergies, they just decide not to try to do business.. This isn’t a battle, nor is it a courtship. It’s a frank exchange of interests and perspectives.
Not surprisingly, the relationship which results from such an interaction is the ideal platform for a transaction which adds equal value to both parties. This is the way customer satisfaction is assured and repeat business, at low cost of sale will be the result.
The sales rep who can think, talk and act like a business owner, and demand respect from the buyer for his role, can make sure any business is good business for both.
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