TOOLS OF INFLUENCE: Harnessing Emotional Intelligence to Increase Sales
Greg Gerosky
AKA: "THE PITCH DECK GUY" || **OBSESSED** with your communication materials. Helping clients WIN MORE and PITCH BETTER by transforming our client's approach from old-school <-TO-> new-age.
ISSUE: #014
Navigating emotional intelligence in sales is a bit like piloting a sail boat across the sea. While we are in control of our vessel, constant corrections are needed to not only stay the course, but to avoid capsizing when the ocean delivers the occasional rogue wave. We can plan and plot our course in advance, preparing as best we can, however the situation can often push us towards another direction we didn't anticipate. Such is the nature of human interaction, especially when it comes to sales.
In sales, where data and meticulously pre-planned strategies often dominate our conversations, the human element can sometimes be overlooked. Yet, it's precisely this human connection—understanding and managing emotions—that can make or break a deal. In this week's issue of #ToolsOfInfluence "Harnessing Emotional Intelligence (EI) to Increase Sales," we’ll dive into how the science and psychology of EI can transform our sales approach and lead to remarkable results.
To kick things off, let’s get to the heart of what emotional intelligence really means. Think of EI as the ability to navigate the emotional landscape of our interactions with finesse and insight. It's about being the emotional Sherlock Holmes in our sales encounters—keenly observing, interpreting, and responding to emotional cues.
Components of EI:
Emotional intelligence is composed of five key elements: self-awareness, self-regulation, motivation, empathy, and social skills. Each of these components plays a crucial role in how we manage our own emotions and understand those of others. For instance, self-awareness helps us recognize our emotional triggers, while empathy allows us to connect with our clients on a deeper level.
Psychological Basis:
Why is EI so powerful? The answer lies in our brains. Emotions play a pivotal role in decision-making. When we engage with our clients emotionally, we activate their limbic system—the part of the brain responsible for feelings and impulses. This connection can turn a rational transaction into a meaningful relationship. Travis Bradberry, co-author of Emotional Intelligence 2.0, points out,
"Emotional intelligence accounts for nearly 90% of what sets high performers apart from peers with similar technical skills and knowledge."
Benefits in Sales:
The benefits of high EI in sales are profound. It leads to improved client relationships, better communication, and enhanced negotiation skills. Imagine trying to sell a complex solution to a stressed-out client. By recognizing their frustration and addressing it with empathy, we not only build trust but also pave the way for a more productive conversation. A study by TalentSmart reveals that 58% of performance in all types of jobs is influenced by EI, and underscoring its critical importance.
So, how does this all translate into our day-to-day sales efforts? Consider a scenario where a sales rep, armed with high EI, notices a potential client's hesitation during a pitch. Instead of pushing forward with more data, the rep pauses, acknowledges the client's concerns, and shares a relevant personal story that addresses those very fears. This approach not only eases the client's anxiety but also builds a stronger, more empathetic connection.
By understanding and harnessing the power of emotional intelligence, we can transform our sales strategies, making them more effective and human-centered. Next, we'll dive into the fascinating science behind EI in sales, revealing the brain's role in this powerful tool.
Understanding the neuroscience behind EI can better equip us with the tools to engage our clients more effectively and close deals with finesse.
Neuroscience of Emotions:
Imagine our brain as a bustling city, with emotions acting as the traffic signals. They direct our thoughts, decisions, and actions. When we understand how these signals work, we can navigate the city more efficiently. The brain processes emotions through the limbic system, which includes structures like the amygdala and hippocampus. These areas are responsible for our emotional responses and memory formation.
When we tell a story that resonates emotionally, it lights up the listener's limbic system. This is why stories are so powerful—they engage our brains in a way that dry data simply can't. Marco Iacoboni, a neuroscientist, explains, "The brain's mirror neuron system is key to understanding others' emotions, which is vital for successful interpersonal interactions." In sales, this means our emotional expressions can influence our clients' feelings, creating a sense of connection and trust.
Emotional Contagion:
Have you ever noticed how a smile can be infectious? This phenomenon is known as emotional contagion, where one person's emotions and related behaviors directly trigger similar emotions and behaviors in other people. In a sales context, if we exude confidence and enthusiasm, our clients are likely to mirror these feelings. Conversely, if we appear anxious or disinterested, those emotions can also be transmitted. The key is to harness this effect positively to create a conducive environment for sales.
For instance, let’s say we’re presenting a new product to a prospective client. We start with an energetic and optimistic tone, sharing a success story of how another client benefited immensely from our product. The client begins to feel that excitement and optimism, seeing the potential benefits for their own business. This emotional alignment can significantly enhance the persuasive power of our pitch.
Cognitive Empathy:
Cognitive empathy is the ability to understand another person's perspective and emotional state. It’s like being an emotional detective, piecing together clues to understand what our client is feeling and why. This skill is invaluable in sales. By truly understanding our client's emotions, we can tailor our approach to address their specific needs and concerns.
For example, during a sales meeting, we might notice subtle signs of hesitation or doubt from a client. Instead of ignoring these cues, we address them directly, saying something like, "I sense you might have some reservations about this feature. Can you share your thoughts with me?" This not only shows empathy but also opens the door for honest communication, allowing us to better address their concerns.
Research published in the Journal of Consumer Psychology found that;
"Salespeople with high EI outperform those with lower EI by 20%"
This statistic underscores the tangible benefits of applying emotional intelligence in our sales strategies. By understanding the neuroscience behind emotions, harnessing emotional contagion, and practicing cognitive empathy, we can transform our client interactions and drive better sales outcomes.
Next, we'll explore practical strategies for developing and applying emotional intelligence in our sales efforts, ensuring we not only connect with our clients but also inspire them to act. Get ready to unlock the full potential of EI in our sales toolkit!
Now that we understand the science behind emotional intelligence, let’s shift our focus to practical strategies for developing and leveraging EI in our sales efforts. These strategies can transform our interactions with clients, making them more engaging, empathetic, and ultimately more successful.
Self-awareness Exercises:
Developing self-awareness is the cornerstone of emotional intelligence. It's like tuning our internal radar to detect our emotions and understand their impact on our behavior. One effective exercise is keeping an emotional journal. Each day, take a few minutes to jot down your feelings and the situations that triggered them. Over time, patterns will emerge, helping us identify emotional triggers and responses.
For example, if we notice that we get particularly anxious before pitching to senior executives, we can prepare better by practicing relaxation techniques or role-playing with a colleague. This preparation helps us stay calm and focused, enhancing our performance. If you feel like you might not be paying enough attention to self-awareness on a Zoom call for example, jot down a few key reminders (1-2 words per bullet point) on a post it note just below your camera as a reminder to be in the moment and be more self-aware.
Empathy Training:
Empathy is the ability to understand and share the feelings of another. It’s about stepping into our client's shoes and viewing the world from their perspective. One way to develop empathy is through active listening. During client meetings, practice focusing entirely on the speaker, without planning our response while they talk. Reflect back what we’ve heard to ensure understanding, even restating the client's thoughts in our own words.
Imagine we’re in a meeting with a potential client who’s expressing concerns about integrating our solution with their existing systems. Instead of jumping in with a technical explanation, we might say, "It sounds like you’re worried about the compatibility of our product with your current setup. Can you tell me more about your specific concerns?" This approach shows that we’re truly listening and value their perspective, building trust and rapport.
Communication Skills:
Effective communication is more than just talking; it’s about conveying our message clearly and empathetically. One technique I often use is to utilize "I" statements instead of "you" statements to avoid sounding accusatory. For instance, saying, "I feel that this approach might align well with your goals," is more collaborative than, "You should go with this approach."
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Additionally, storytelling is a powerful communication tool. By weaving a compelling narrative into our sales pitch, we can make our message more relatable and memorable. For example, sharing a story about how our product helped a similar client overcome a major challenge can illustrate our points vividly and emotionally.
Humor and Positivity:
A little humor can go a long way in building rapport and making interactions more enjoyable. Just as a lighthearted comment can ease tension in a personal conversation, it can also make our sales meetings more engaging. Of course, humor should be used appropriately and professionally. A well-placed joke or a funny anecdote can make us more relatable and memorable.
For example, if a potential client has a cup of coffee sitting on their desk getting cold during our Zoom call with them, perhaps ending a pitch with a light comment like, "And just think, with our solution, your team might even have time to enjoy their coffee while it’s still hot!" It’s a small touch, but it can leave a positive impression and make the meeting more enjoyable.
Developing and applying EI in sales isn’t about manipulating emotions; it’s about genuinely connecting with our clients and addressing their needs with empathy and understanding. Paying attention to our clients, observing elements of their environment, body language, appearance, and most critically... their words, will allow us to harness EI in even more powerful ways. By practicing self-awareness, honing our empathy, improving our communication skills, and adding a touch of humor, we can build stronger relationships and drive better sales outcomes.
In our next section, we’ll explore how to measure the impact of EI in sales, ensuring that our efforts lead to tangible results and continuous improvement.
Let’s face it, even the most well-crafted story or emotionally intelligent pitch needs to be backed by measurable outcomes. How do we know if our efforts in applying emotional intelligence are actually driving sales success? Here’s how we can measure the impact of EI in our sales strategies.
Quantitative Metrics:
Start with the numbers. Track key performance indicators such as conversion rates, sales growth, client retention rates, and customer satisfaction scores. For example, if we’ve implemented a new empathy-driven sales training approach recently, we should first benchmark our sales ahead of the training, then see if there is a corresponding rise in client engagement and closed deals post-training.
A report by the Sales Management Association indicates that:
"Sales teams with high EI see a 34% increase in closed deals."
This may seem like an obvious strategy, but if we're the ones in charge of implementing such training, then ensuring we track the data from start to finish will tell ourselves and our team if the training is working, sustaining, or perhaps needs to be revisited.
Qualitative Feedback:
While numbers provide a clear picture, qualitative feedback offers deeper insights. Gather feedback from clients and peers to understand how our emotional interactions are perceived. Send follow-up surveys or conduct interviews to ask specific questions about the emotional aspects of the sales experience. This may be more relevant in some sales environments than others, but I'll bet we can all benefit from improving this feedback loop in our sales strategies somewhere.
For instance, we might ask clients, “How did our approach make you feel about our solution?” or “Did our understanding of your needs influence your decision?” These questions can reveal valuable insights into how our emotional intelligence impacts client perceptions and decision-making.
We can even gather feedback during live Zoom or Team's calls with the help of live “Virtual Classroom" technology. These often include features like live teaching, polling, quizzes, notes, etc.. Here's a few platforms to consider.
While these tools are often used for training, they can also be utilized for live sales environments to capture how our customers feel, across the various stages of our pitch. Asking anonymous questions on a multi-person sales pitch, like "How well did you understand the explanation of the previous module" or "How well does this product match your needs on a scale of 1-5" can even help sales leaders address sales challenges in the moment. It can also be utilized to measure how well our EI sales strategies are performing during, or post-call.
Continuous Improvement:
Emotional intelligence is not a one-time fix; it’s an ongoing process of learning and adapting. Use the data and feedback we gather to continuously refine our approach. If we notice that clients appreciate when we acknowledge their concerns early in the conversation, make that a standard part of our pitch.
Just like a chef tasting and adjusting a recipe, we need to be constantly aware of how our emotional intelligence strategies are working and be ready to tweak them for better results. This iterative process helps us stay aligned with our clients' evolving needs and preferences.
According to the Harvard Business Review, organizations that measure and train EI in their sales teams see a 15% increase in revenue. This statistic underscores the importance of not only implementing EI strategies but also rigorously measuring their impact to ensure continuous improvement and sustained success.
Wrapping it up
Emotional intelligence in sales isn’t just about being nice; it’s about being effective. By understanding the core components of EI, exploring the neuroscience behind it, developing practical strategies, and measuring our impact, we can transform our sales approaches. Emotional intelligence helps us connect more deeply with clients, understand their needs better, and ultimately drive more successful outcomes. Let’s embrace the power of EI to not just sell more, but to build lasting, meaningful relationships with our clients, ensuring our success and theirs.
References
AKA: "THE PITCH DECK GUY" || **OBSESSED** with your communication materials. Helping clients WIN MORE and PITCH BETTER by transforming our client's approach from old-school <-TO-> new-age.
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