Jonathan Farrington

Is it Possible That Our Customers and Clients Have Become Irreversibly Promiscuous?

11.12.2019 by Jonathan Farrington //

I suppose another way of framing that question is to ask you if you think customers and clients still value long-term relationships?

Let’s look at what we know: All of our customers and clients are more informed than ever and typically enter the sales/buying cycle much later than they used to – you must be sick of hearing that, but it’s true.

We also know that customer service levels are at an all-time low, as companies of all sizes indulge themselves in a frenetic and sometimes indecent chase for new clients, leaving their existing ones to fend for themselves. (Lots of foreplay until the initial conquest, and then a combination of coldness, indifference and arrogance)

This in turn breeds mistrust, which inevitably results in an initial reluctance to engage – or commit to a longer-term relationship – for fear of being hurt.

However, the reality is that there are enormous benefits to be gained by both parties from a secure and mutually rewarding marriage: For a vendor, the opportunity to forecast regular and reliable income, keeps the grey men in the finance department happy. Equally, the customer, once convinced of our integrity, is able to enjoy consistent and continuous levels of customer service – well that’s the theory.

So how does that work?

You see, since the key to differentiation is in forging closer links with clients, the role of the long-term ally is a crucial one. Once the salesperson has earned the right, it is important to develop and maintain the relationship.

As the term suggests, acting as a long-term ally involves maintaining contact with the client even when there is no immediate prospect for a sale. It also suggests that the salesperson needs to be committed to the long-term development of the relationship.

I believe that top salespeople demonstrate this commitment by continuously looking for ways to:

Build interpersonal trust
Create and maintain a positive image of the sales organization
Inspire respect for their company
Show genuine concern for their customers’ short and long-term interests
Identify ways to strengthen the quality of their business relationship
Help the customer meet needs within his or her organization
Deal with issues openly and honestly
Deliver on promises

It is also crucial for the salesperson to ensure that the relationship between the organizations is mutually beneficial. In other words, it is essential to build and honor the expectation that reaching agreements will mean good business for both parties.

At the end of the day, taking a long-term approach proves more profitable since the customer will recognize that the salesperson is taking a committed interest and in so doing is giving honest and open advice. This inevitably encourages the customer to trust the salesperson and to view him or her as a colleague rather than an opponent.

Is Inspiration Overrated? I Think Not!

11.05.2019 by Jonathan Farrington //

In a survey of more than one and a half thousand managers, people were asked what they would most like to see in their leaders. The most popular answer, mentioned by 55% of people, was ‘inspiration.’ Yet when asked if they would describe their current leader as ‘inspiring’ only 11% said yes.

The two attributes that people actually mentioned most often when describing their leaders were ‘knowledgeable’ and ‘ambitious.’ As well as this thirst for inspiring leadership, there’s also evidence to support the idea that companies with inspiring leaders perform better.

The Sunday Times publishes an annual survey of the ‘Best Companies to Work For’, which is compiled from the opinions of the companies’ own employees. One interesting fact is that those ‘Best Companies’ that are publicly quoted consistently outperform the FTSE All-Share Index. Five-year compound returns show a 5.7% negative return for FTSE All-Share companies against a 13.6% gain for the Best Companies. Over three years, the returns were -11.3% and 6.7% respectively while, in the last twelve months, they were 23.1% and 44%.

The ‘Best Companies to Work For’ have also performed impressively on staff turnover, sickness rates, absenteeism, and the ability to recruit good quality people.

The stereotype of the inspirational leader as someone extrovert and charismatic is the exception rather than the rule. Looking at best practice across business, though some inspirational leaders certainly do fit this mould, a large number do not. Many are quiet, almost introverted.

My personal view is that the best leaders promote a culture where their people value themselves, each other, the company and the customers. Everyone understands how their work makes a difference. This helps to build a commitment to higher standards where everybody is always looking to do things better.

The Golden Egg(s) Nestling in Your Basket

10.22.2019 by Jonathan Farrington //

From quite early on, in our sales careers, we are encouraged to explore every sales opportunity that presents itself – in fact, in some companies, they are brainwashed into believing that “all business is good business.” And of course, we do not challenge this fallacy, simply because we don’t know any better – we are on the first rung of the ladder.

We are anxious to make our mark, get “runs on the board” and impress our manager – even our colleagues. At this point in our careers, our naivety sustains us and, in some perverse way, insulates us from the harsh realities of the sales environment – but only momentarily…

Maybe all new sales professionals should memorize this statement: “Selling is the most exciting, the most invigorating and the most rewarding career in the world – if you are selling well“

Gradually, as we ascend that sales success ladder, we experience a life-changing epiphany – well, those of us that become successful do – and it dawns on us that actually, it takes just as long to progress an opportunity that has no chance of closing, through the various funnels and pipelines, as it does a profitable and closable one. We even manage to work out that, whilst we are spending so much time on unwinnable business, we are letting winnable business slip through our fingers due to a lack of time and attention.

It isn’t rocket science, but our ability to determine which is which early in the sales/buying cycle, could ultimately decide just how far we progress up that aforementioned sales ladder, because, be assured, the very best frontline sales professionals – the top 5% – always position themselves with the real decision-makers and avoid those without “approval power.” They are able to first identify, and then access, the formal decision making unit.

They are also able to readily identify and know how to deal with the four different buying influences present in every sale. They understand how to prevent sales from being sabotaged by an internal enemy. They insulate themselves by developing strong allies within.

Finally, they are able to recognize fail-safe signals that indicate when a sale is in jeopardy. This comes from experience, but also information supplied by their allies.

But, most important of all, they are rigorous in tracking account progress and are able to accurately forecast future sales, because they use proven methodology which allows them to realistically weight every opportunity in the pipeline.

So, do you think that if you re-examined your pipeline today, and you had to wager your house on those opportunities that will really happen, you could do so? Or are you happy to continue playing the numbers game?

Do try to spot the “golden eggs” in your basket – and encourage them to hatch – it will be worth it, I promise you!