Harnessing Our Human Superpowers: The Importance of EQ in B2B Sales

Picture a salesperson who is aware of the emotional and practical wants of their buyers. They intuitively know what to say and how to connect with their audience around each stage of the sales cycle. Their interactions with prospects are pleasant for both sides, with almost always positive outcomes. This individual is seen as a top performer and valued customer advisor.

Now, imagine another salesperson struggling to create rapport, build trust and read prospects' needs. Even when given significant product expertise and technical understanding, this salesperson has trouble closing the deal.

What do these two situations have in common?

They both represent the impact emotional intelligence (EQ) has on sales. Decades of research identify emotional intelligence as the critical trait that differentiates top performers from the rest of the sales force. People who can read and respond to others' emotions accurately have higher EQs, making them more likely to succeed across all levels of an organization.

Emotional intelligence is the capacity to recognize our feelings and those of others, motivate ourselves, and manage emotions effectively in ourselves and others. Emotional competence is a learned capacity based on emotional intelligence that contributes to effective performance at work. EQ is one of the most sought-after skills in business because it is instrumental in teamwork, leadership, and motivation. As research continues to prove that EQ is crucial for success, it's no wonder why so many business leaders are looking for ways to improve this superpower amongst their teams.

Without EQ, salespeople will struggle to build trust with prospects and stay motivated. They might also run into trouble influencing decision-makers and working effectively with teammates. But the better a salesperson understands the impact of EQ and the emotions invested in a sales interaction, the better their chances of successfully making quota and being successful.

This article will discuss EQ and some research on its impact on sales performance. I'll also share actionable advice to help you strengthen EQ in your enterprise sales team.

EQ's Impact on The Bottom Line

In a study from Ohio State University, researchers assigned nearly 240 undergrads to two teams and tracked how emotional intelligence affected their performance in a real-life business simulation. Each sales simulation required complex solution-finding to complete successfully. Overall, the students with higher emotional quotients (EQ) performed better in high-pressure situations.

Each participant was evaluated using the Emotional Competence Inventory 2.0 (ECI), a 360-degree tool designed to assess the emotional competencies of individuals and organizations. The ECI measures 18 competencies organized into four clusters: Self-Awareness, Self-Management, Social Awareness, and Relationship Management.

The group that included people who scored in the top 25% of emotional intelligence made more sales and took less time to complete their transactions than individuals who ranked in the bottom quarter. Even though both groups began with comparable levels of knowledge, those with superior EQs prevailed.

The study discovered that the group of salespeople with higher ECI ratings consistently outperformed their peers. The high EQ team secured $2.12 million in total profit and completed the simulation in the shortest time. In comparison, the other group spent an additional 61 minutes negotiating and earned $1.59 million in total revenue—a difference of 25% or approximately $500,000 less in total revenue.

Furthermore, for each one-point increase in an ECI score, salespeople saw a corresponding 8% to 12% increase in their earnings. This increase is because people with high EQs excel at reading and understanding social cues, anticipating needs, and responding to feedback quickly. Improved EQ competency allows sellers to build stronger relationships with prospects faster than those who struggle with these subtle interactions.

EQ's impact goes further than just business simulations. According to a Forbes report on Emotional Intelligence and Sales, EQ is critical for overall sales success. In an article from Forbes, Rick Barrera states that salespeople who lack EQ fall into the categories of "clueless," "overwhelmed," and "overselling." Overall, EQ is essential for sales success, but what are the four main pillars of EQ that may influence performance?

The Four Pillars of EQ for Sales

The dimensions of EQ that make it such a powerful component of B2B selling can be divided into four categories: self-awareness, self-regulation, motivation, and empathy. These core competencies allow salespeople to recognize emotional signals from prospects and change their actions as needed to respond effectively.?

Self-Awareness

Self-awareness, or accurate self-assessment, is the ability to recognize emotional cues from others versus emotional cues from within ourselves. As a salesperson, you need to develop two aspects of self-awareness: identifying emotions and understanding how your actions influence them. For example, suppose a prospect is visibly upset about something that has nothing to do with you. In that case, it's better for your relationship if you recognize this emotional cue and change the subject to get back on track. Self-awareness also means determining whether your emotional state influences how you communicate or behave and then taking steps to manage it if necessary.

Self-Regulation

Self-regulation refers to the emotional management of ourselves throughout an interaction, including our expressions and reactions. Regulating these internal and external responses can help a salesperson approach tense conversations with emotional awareness and improve outcomes. This emotional regulation can help salespeople manage their emotions, stay motivated and avoid getting overwhelmed during a negotiation or sales process. While emotional intelligence can't wholly prevent salespeople from making mistakes, it does help reduce the impact of their slipups. When sellers have high EQs, they are better equipped to recover from errors without harming the relationship. When it comes to sales, the ability to "bounce back" is critical for success.

Motivation

Motivation is the ability to be self-sufficient in pursuing your goals. Self-motivated sellers are driven by a clear vision and values they have set for themselves. They know what they want in life, their pursuits aren't based on external validation, and they don't abandon tasks simply because the work becomes difficult. Motivation also includes the desire to learn from mistakes so that EQ can improve from one interaction to the next. A salesperson's motivation moves them to persist in the face of difficulties. When motivation is strong, sellers don't allow themselves to become bogged down by failures or challenges, but they are also aware of their limitations and seek help when needed.

Empathy

Empathy is the ability to understand and share the feelings of another person. The main idea behind empathy is emotional connection. Sellers who are empathetic can put themselves in the shoes of others and communicate effectively because they listen with the intent to understand, not just to respond. Their understanding of others comes from both conscious and subconscious cues. For instance, sellers who display empathy for their clients when they're feeling stressed or overwhelmed develop trust and understanding that can pay dividends in the future. This emotional empathy helps salespeople build rapport which leads to confidence, which is fundamental to the buying decision.

Top Performing Teams and EQ

?In many cases, EQ will make the difference between a top-performing enterprise salesperson and one who struggles to close deals or falls prey to a cycle of rejection and failure. A study by the Corporate Executive Board found that EQ was a better predictor of sales performance than IQ or technical skills. What's more, the study showed that EQ contributed to nearly 70% of sales performance.

Another study from the University of California-Davis showed that emotionally intelligent salespeople could better sell complex products because they can read the emotions in a sales call and better understand a prospect's actual needs. High-performing salespeople are able to build trust because they can quickly identify with the emotional cues of their buyers, making them more relatable.

Although emotions can be hard to detect, it is easy to see how sellers with a high EQ will outperform their peers in every aspect of their responsibilities. By building better relationships with prospects and maintaining motivation throughout their engagement with their customers, conversion rates tend to be 12% higher than their peers.

Considering EQ's role in successful enterprise selling, it should be no surprise that EQ is the most critical factor in sales performance. Great sales leaders understand the impact of EQ on enterprise sales. Improving emotional intelligence amongst our teams fosters more rewarding relationships with customers and partners, resulting in higher earnings and improved interactions for both buyers and sellers.