Connecting with and understanding customers’ business problems and personal implications is more important today than ever. But in this fast-paced world, bombardment of digital messages, priorities shifting on a dime and never enough time, it’s not easy. However, when you don’t fully understand your customer, you are at great risk.
One of CI Squared’s clients, a large software company, discovered the consequences of not taking the time to truly understand their customer. After an initial demo/presentation to this long-standing customer, CI Squared’s client received negative feedback that they were losing. They were given another chance and came back 8 months later with a renewed presentation. The 12 members of the team devoted their time and effort to the new presentation during these 8 months, but they were again rejected by the customer. What happened?
CI Squared’s lost deal analysis revealed that at the crux of why they lost this sale was a lack of understanding. No one on the deal team connected with the operational team or key leaders. They were not able to uncover the real implications of their customer’s business problem and the time frame needed to solve it successfully. Without these insights, they were proposing a perceived solution they thought would fill their customer’s needs. However, from the customer’s viewpoint it did not hit the mark and would take too long. By contrast, the competition had built strong connections with workers and executives, they understood the business problem, motivations of the individuals, and the sense of urgency needed. The customer’s team felt that the competitor “got them” and could deliver a better, timelier solution.
The damages were huge: time, resources, and opportunity cost. They could directly measure that they lost a 3-year, $1.5 million deal in an existing account, $4.5M. How about the investment in people and time or the opportunity cost? How much did it affect their standing with the customer and confidence?
CI Squared believes that better discovery which leads to understanding the customer, both business and personal, is critical in today’s world. How do you help your customer uncover their real problems and deliver insights when they don’t have time? Better human interaction through empathic communication can help you gather the Customer’s whole story and is at the heart of winning today. Customers want to be understood and want to buy from sales teams that give them insights and confidence. But we often rush to talking about our product or service vs staying in the moment and saying, “Tell me more.”
The world has changed and Buyer 2.0 with it. They do not want the same old sales teams who just pitch their products. They have seen that movie before. Your old sales techniques are not enough today to give you the ability to make a strong human connection and listen well enough to get their complete Story with empathy. However, most salespeople have not been exposed to new and innovative ideas and tools. Why not? Some don’t realize the magnitude of this problem on their performance. Some are complacent because change is hard. Some just won’t invest in their people to fill these GAPS. And some think they do it well already which the research debunks.
You can challenge yourself to see how big of a GAP this is individually or organizationally. Benchmark your win rate % against industry averages. Sirius Decisions statistics show that if you count every deal you work on, best in class B2B sales organizations win 40%, lose 30%, and the final 30% just do not buy. We believe that if you calculate this accurately, you will want to do something now. We can help you dramatically shift these ratios.
How can you ignite passion?
According to a Gallup research poll, only 30% of the U.S. workforce is engaged in its work. Shockingly, the vast majority of U.S. workers (70%) are not reaching their full potential. Analyzing how and why your employees are motivated is worth investing in to ensure success and productivity for your business.
While many exist depending on the company, there are 2 main reasons why your team is not committed:
- Employees focus on WHAT they are doing, not connecting with WHY or their passion.
- Leaders don’t have a compelling vision
In our fast paced world today, everyone is moving at light speed and leaders don’t take the time to inspire. Leaders finds themselves lost on what inspiration to tap into because they have not taken the time to ask employees about their passions. So how can we understand peoples’ passion and motivation to help inspire them to bigger dreams and successes? We try to do it with simple words or phrases, but do these attempts truly harness the passions and desires of the team? Does it help them see how they make a difference and ignite their potential for action?
It all comes back to the fundamental basics of understanding people. For true understanding and empathy, you must take the time to listen. Use this information to shift your conversation or Story to one of inspiration.
- Gather the stories of your people and understand how to inspire them into action. How can their individual “WHY Story” be tied into the purpose of the company and real business outcomes?
- Lead. Your team is looking to you for inspiration – be a beacon of hope and dreams. Make your employees passion the key to your company culture and you will tap into unprecedented excellence in all aspects of your business. Tell and celebrate internal Hero Stories of employees who overachieve and delight your customers.
- Communicate your vision/strategy and their role in achieving this success. Explaining the “why” and the “what” to your employees makes empowering them to execute with their own “how” that ignites their 100% commitment, leading to innovation and success.
Have you asked your team “Is this really what you want to be doing with your life?” If you think, NO, then instead of fearing, be open to ask why, gather the challenges and redefine. You may not have all the answers, but be open to asking, telling and sharing. If it is “YES I am,” then find ways to harness this passion on your key activities and projects allowing you to execute with passion. Your colleagues and leaders will take notice.
A passionate workforce is a productive workforce. Everyone benefits from listening and gathering to understand. When the struggles get tough and performance/ productivity starts to lag, you will be able to re-inspire your team if you tap into their WHY and passions. We all fundamentally want to win and succeed.
As quoted in The Art of the Nudge: “Unfortunately empathetic listening and playing back emotions is a rare skill…When you truly believe that someone really knows how you feel, you identify, you feel safe, and you let your guard down. This intent focus by someone else can make you feel like you can be more than you think you can, and accomplish almost anything.” Pg 98 and 99
Nudge: Go deeper than just small talk with your employees. Start a conversation about passion, commitment and purpose.
Other points of view: