In the movie "Thank you for Smoking" there is an incredible scene where the tobacco lobbyist, Nick Naylor, has to bribe the Marlboro Man (who is dying from lung cancer) with a briefcase containing $1 million in cash in exchange for silencing his anger over his illness. The way he did it was the perfect blend of Emotional Intelligence, strong communication skills, and negotiation skills that would humble an FBI agent. That scene can be seen here: https://youtu.be/DtzyCOiUmF8?si=gmIM4Wzct_1aPfxh
CEOs take on incredible amounts of responsibility as they lead teams of experts to help a company fulfill its mission statement. They also carry the responsibility of keeping the employees inspired and focused on the company's success. Let's not forget their duty to deliver shareholder value to investors. However, it is very rare they are the one who built the product or service that drives the company's revenue.
The engineer is often credited with the creation of something that is ultimately what is discussed in everyday business settings. Their talent, their persistency in building either a hard product, software or system that increases someone else's efficiency is often what is bantered about by the talking heads on networks like CNBC or Bloomberg. It is also important to note, that great products almost never sell themselves.
An amazing salesperson is the one who makes it rain! These key employees beat their goals almost every year, and they do it with pride. Imagine heading up a company where you were so confident you could beat sales estimates each year because your sales team was that good and that committed to the company's success. What qualities would help identify the salespeople who fit this description?
- Exceptional communication skills. Yes, they do need to be able to deliver a presentation with confidence and clarity, but this skill goes way beyond that! Too many companies gloss over this first quality because they think a good presenter can learn the rest of this with no problem. Oh - how wrong they are! A master of communication skills pays careful attention to facial expressions, body language, voice modulation, social styles, and is more apt to listen than speak in the early part of building a business relationship. I learned early on, when you aren't sure of what to say next, don't say anything. Ask them more questions and pull out important clues regarding their concerns and/or challenges. Knowing how to inspire and motivate people who carry different behavioral styles is an important quality in a great salesperson.
- Emotional intelligence. As artificial intelligence takes over some white collar roles, it will be more important than ever for salespeople to have a high EQ. This person's ability to adapt to the clues that were gathered during the discovery process and build rapport will highlight the importance of exceptional human skills that no machine can replace. Trust building will not occur on a computer screen. There must be human contact.
- Deep product and industry knowledge. A great salesperson is an expert in understanding where their solutions fit and why, and are equally prepared to contrast their solutions to other alternatives. It doesn't hurt to examine the proposed outcome from unusual perspectives. This skill can lead to innovative solutions that end up selling even more than what was expected. As an example, Caddis has created a lead generation program for asset managers, wealth advisors, and insurance producers that competes with many of the big names in the industry. However, an innovative approach to this has given Caddis the ability to guarantee 100% more output from their program than others by partnering the advisor or asset manager with a non-profit. So, a $60,000 annual investment into this Sponsorship Method guarantees that $120,000 is actually funding a Google ads campaign.
- Problem-solving ability. Every salesperson faces challenges. Sometimes the product or service is going through tough times. Other times poor customer service is triggering pain points. I have faced numerous challenges over my career by being placed in the worst performing territory on day one. Success usually requires a combination of innovative campaigns, enthusiasm, strong negotiation skills, and the ability to inspire and motivate others to promote your product or service. There is no advertising as strong as word of mouth advertising!
- Passion and drive. Most hiring managers can spot this one quickly and are influenced to hire a candidate right away. It is easy to be passionate in an interview. It is easy to say you will work harder and longer than everyone else when you are at a table with your cup of coffee and not in the trenches dealing with incoming fire. A good hiring manager will find a way to bring this candidate back to a time when they were in the trenches and explain how they were able to successfully defend themselves and turn the challenge into an opportunity.
There has been a trend in our business to hire young, energetic salespeople to attack high stakes opportunities that can take an enterprise to new heights. Don't get me wrong, I support the hiring of young professionals in the right roles with the right companies. However, let's not set them up to fail because we felt confident we could find that top 20% that produces 80% of the revenue by hiring lots of young professionals and paying them very little. Invest in your company's success by hiring experienced, innovative, and passionate salespeople for your biggest challenges. These talented people should also be wired to clearly understand how much they influence the success (or failure) of a company.
Need help building a team like this? Caddis is uniquely qualified to identify and manage talented salespeople in the asset management, wealth advisory, and insurance brokerage industries.
