Over the past couple of years, I had to face a gnarly truth that kicked me out of my comfort zone. I found myself in jeopardy of losing my largest client. And while my gut reaction was to defend my methods and approaches as the best, it quickly dawned on me that this was a real opportunity. It was time to practice a bit of what Adam Grant calls vuja de (the opposite of déjà vu). In his book, Originals, Grant explains that vuja de is looking at something familiar with a fresh perspective and therefore “gaining new insights into old problems.”
The reality is that this was exactly what catapulted me to a successful sales training and consulting practice over a decade ago when I developed Sales Magnetism. I had taken the conventional wisdom about effective sales training and put it under a microscope, examining and challenging every nuance and principle that was commonly taught and touted as truth.
As before, it was once again important for me to analyze how the business landscape had changed in the last couple of years and how those changes impacted the way that we need to sell and market today. That led me to determine and focus on the five business disruptors which I’ve been writing and speaking about frequently at conferences and sales meetings. Among the biggest disruptors is the shift in the workforce and how Millennials are impacting the status quo. The short and dirty on Millennials is that by 2020, they will make up 50% of the workforce. I call it the Millennial Tsunami and the full impact is going to shift everything, including how we sell. (Click here to learn more.)
So back to my quest for the holy grail of selling…after a close examination of the five disruptors, it was time to take a detailed look at my signature program, Sales Magnetism. I quickly realized that it was time for me to shift to stay relevant and meaningful to a new generation in light of new realities. Perhaps the biggest shift I discovered was a need to move from relationship-based selling to value-added selling.
My own analysis and anecdotal experience working with thousands of salespeople and business development professionals is quite interesting. Most salespeople are fairly proficient at building relationships but are pretty clueless about adding value in a meaningful and relevant way. It’s important to note that “meaningful and relevant” must be defined by what’s important to the customer. The research in this area of business-to business sales is pretty clear; only about 14% of companies are able to deliver something that is seen as uniquely valuable to their customers. That means that 86% of salespeople (and organizations) are missing the boat and are falling short.
Combine that with the fact that 53% of client loyalty is tied into specific expectations during the “sales experience” (see what matters in my article on how to get explosive business growth) and what each generation of buyers is looking for is vastly different; it’s no wonder that a shift of a major magnitude is happening now.
I’ve coined the term, “Unparalleled Value” as I’ve re-created my own approach to selling. As I was explaining in a workshop to a client on “How To Create Unbreakable Client Loyalty…Under The New Rules” last week, it’s important to closely examine what value we are bringing to the table. To illustrate, I use my term “Unparalleled Value” and break it down into the two words to be very clear about what today’s business-to-business market is clamoring for. “Unparalleled” means unmatched or unique. Are you providing something that is truly different? Something that is better for your customers? Now, for “Value.” We can get a clue of where we need to focus by going to the Latin root, valere, which means “to be worth.” In other words, are you providing something that has worth and usefulness for your customers? Is it meaningful and relevant for them, defined by them and not your own perceptions?
So have you made the necessary shift in the way you grow revenue? Have you identified and incorporated your Unparalleled Value in a way that truly sets you apart? Have you developed customer-centric insights (not just observations) that have your prospects and customers re-examining how they do business (and not just saying…we know that already)? Have you shifted the way you approach and interact with clients in a meaningful and relevant way? Have you adjusted your sales process and approach to account for the different generations of buyers (Baby Boomers, Gen Xers, and Millennials)? Do you know how to create and sustain meaningful value-add experiences that lead to unbreakable client loyalty? Are you in the top 14% who “get it” or are you struggling and finding yourself stuck?
Further, have you made the shifts and changes internally that match the need of a changing workforce (salesforce)? Everything from your culture, your professional development and your incentive programs are impacted by the new rules.
If you need some help to start the shift, check out our Business Disruptors Series. It’s a straight-forward rundown on what you need to know to get you and your team on the right path.
