Four Big Bad Sales Myths of 2018

Justin Jones, co-founder of the sales consulting firm Somersault Innovation, offers this perspective on approaching the sales profession in 2018.

Myth #1: Expertise is the Source of Our Credibility. Most of us are all too eager to demonstrate our product and business knowledge and quickly take control of a customer interaction to demonstrate expertise. We believe this will help our clients trust and buy from us. However, as Amy Cuddy finds in her recent book, Presence, competence is only part of what compels trust. And, it’s the lesser part!

Before clients consider our competence or expertise there’s something else they’re looking for: they’re looking for warmth. Are we real? Are we authentic? Unfortunately, the more we hammer our amazing expertise, the less authentic we appear.

I spoke the other day with an account management team from a leading mortgage technology firm, and here is how they approached a recent client meeting. They went in without an agenda except to talk with the customer about their business. The client responded by openly sharing information about two key initiatives that led to new opportunities. The team reported their delight in what felt like a “natural,” and “authentic” meeting and were eager to experiment with more clients.

Give less weight to expertise in your next meeting and see what happens.  

Myth #2: The Customer is Always Right. Today, our customers are much further along in their buying decision by the time we talk to them. This makes our job a lot harder because, thanks to many online resources, customers are much better informed and often have their eyes on a specific solution. But that doesn’t make them right, no matter how sophisticated a buyer they are.

If we slip into order-taking mode, we end up in commodity-ville, talking about a limited solution that can be easily compared to the competition.  However, if we press for more discovery we’re almost certain to find that the client’s definition of the problem is limited, or even incorrect. To the extent we can reframe the customer’s certainty and fixation, we graduate from “problem-solver” – just like every other vendor who calls on them –  to the more coveted and differentiated “problem finder” role.

Myth # 3: Big Data Will Save Us. The benefits of Big Data are all around us. AI and predictive analytics are already being used to make our lives easier. After clicking only once on an ad for online bedding retailer Brooklinen, they showed up on every site I frequent, making it easy to build a relationship, and, yes, place an order. Many of our clients are likewise experimenting with this technology to identify leads.

While this functionality is fantastic, we see it leading too often to limited engagements. Sales people are over-relying on data to close ready-made deals. In a fashion, they’re combining this myth with the previous two: they leverage data to quickly demonstrate their expertise in the specified areas and make a wrong assumption about the customer’s problem. The promise of big data is real, but only insofar as it’s used to enable greater problem finding – not quicker problem solving and selling.

Myth # 4: Focusing on Numbers Will Drive Revenue. This last myth is pervasive among both sales people and their managers. I understand the power of the maxim ‘What gets measured gets done.’ But we’ve taken this to an extreme such that sales managers and their teams spend an inordinate amount of time and emotional calories reporting on their pipelines. The unintended consequence: sales becomes dumbed down into a revenue drone. It’s no longer about our customers and the interesting things they’re doing with their businesses and how we can help them.

It’s about delivering our numbers – or at least paying lip service to doing so. The remedy for sales managers is as simple as asking your teams about the interesting things they’re seeing in their accounts. What’s something new they’ve learned from a customer? Which accounts are they feeling excited about and why? You’ll have a much clearer picture about progress in each account, and you’ll open up your conversations toward what really matters: how your business can help your clients solve their problems.

Getting a ‘Trustful’ Business Boost with Proper Advertising

Sometimes it’s the simple things that make a difference. Researchers found that including 10 words at the end of an advertisement can help a company’s perception with its customers.

After using the statement, the business was rated higher in the following categories:

  • Fair price, up 7%
  • Caring, 11%
  • Fair treatment, 20%
  • Quality, 30%
  • Competency, 33%

And those magical 10 words: "You can trust us to do the job for you."

Trust in U.S. Businesses on the Rise

This time last year, collective faith in American businesses was down, both domestically and abroad. Then again, at this time last year Brett Favre seemed to be settling into retirement and Conan O’Brien was eagerly awaiting fulfilling his dream of taking over "The Tonight Show." Quite a bit can change in a year.

And it looks as though trust in American businesses is rebounding, according to PR Newswire:

Trust in business and government in the United States has improved significantly, according to the 2010 Edelman Trust Barometer. Among informed publics(1), trust in U.S. business to do what is right jumped 18 points since last year to 54 percent. Trust in U.S. companies is trending up in 19 of the 20 countries surveyed, with the largest increases – 20 percentage points or more – recorded in Europe, reversing years of low trust in U.S. companies across the EU and Russia. In the U.S., trust in government also rose 16 points since last year, to 46 percent, one of the largest increases in trust in government among the countries surveyed. These levels of trust are approaching those measured by Edelman before the "great recession," at the height of the economic expansion in 2006 and 2007. However, nearly two-thirds (59 percent) of U.S. respondents express concern that business and financial institutions will return to "business as usual" after the recession is over… 

For the first time, this year’s survey shows that trust and transparency are as important to corporate reputation as the quality of products and services. In the U.S. and in much of Western Europe, those two attributes rank higher than product quality – and far outrank financial returns, which sits at or near the bottom of 10 criteria in all regions. This is in stark contrast to 2006, when financial performance was in third place in a list of 10 attributes shaping trust in the United States. An increasing number of respondents also expressed trust in information from a company’s CEO – up 12 points, from 19 percent to 31 percent, which is still relatively low.