Driving higher sales, more accounts, stronger customer service and better customer retention in a competitive economic environment.
A study with Sanofi-Aventis showed an increase in sales by over $2million per month.
How much does your organisation rely on the performance and success of your sales force?
Keeping your sales people in the game is going to become a greater challenge in the future and will largely be affected by their ability to connect with and understand what their customers’ needs are.
The economic market has changed drastically over the last decade, but unfortunately, most sales techniques, skills and training have failed to evolve with the market creating a threat to most companies who rely greatly on their sales people to produce required revenue for long-term sustainability
The current buyer market has evolved into a more social one, requiring sales people who are able to connect on a deeper level with customers. This will include the ability to read and understand current and potential customers’ buying styles, personalities and behaviours at a level as never experienced or needed before.
In a study conducted by Dr. Benjamin Palmer and Sue Jennings, the power and skill of emotional intelligence was demonstrated and determined to account for over $2 million increase in monthly sales.
Sanofi-Aventis split their sales team into random control and development groups. The development group was selected to receive EQ/EI Training which lead to an increase of their overall EQ/EI by an average of 18%. The development group of 40, out-sold the control group by and average of 12% or $55,200 each totalling $R2,208,800 per month higher or better than the control group. The investment value calculated meant that for every dollar they invested in the EI training, the value earned in return was $6.
Other companies that invest in Emotional Intelligence training who outsell their competition include companies like L’Oreal, MetLife and Amex Advisors.
Emotional Intelligence is at the core of relationships that will give sales people the advantage when dealing with customers. Sales people who have higher competencies of Emotional Intelligence significantly outsell those who have lower capability.
Rozell, Pettijohn and Parker explored the relationship between EI and performance in a sample of sales people and proved that it was a highly reliable predictor of performance leading to higher sales and greater customer relationships. (E.J Rozell, C.E Pettijohn & R.S Parker. Emotional Intelligence and Dispositional Affectivity as Predictors of Performance in Sales people 2006)
With access to information, most buyers or customers have already acquired sufficient information about your products and services and aware of the solutions that you offer. They are however, expecting a unique experience that sets you apart from the competition.
EMOTIONAL INTELLIGENCE skills training is crucial in assisting sales people close the gap between just presenting a product, to being able to really connect the with customer and adapt to offer the solution that the buyer is seeking. This is where soft skills help to produce effective and hard results.