Previously I focused on the psychology of change and the challenges faced by sales executives in translating awareness into intent. Now, let’s explore the crucial journey from intent to action.
What drives us personally often hinges on a shift from a “nice-to-have” to a “must-have” scenario. Consider the familiar example of submitting a tax return. Despite knowing the annual deadline, many procrastinate until the last minute. Knowing the importance and having a desire to be organised are insufficient drivers—urgency is needed to make it compelling.
Building a business case
Turning intent into action requires a robust business case that combines logic and emotion. Here’s a simplified guide:
- Quantifiable impact of the driver for change: Highlight the potential costs of ignoring risks and the potential loss of revenue by ignoring opportunities.
- Solution criteria costs: This is not just the cost of buying the solution but also the cost of change, onboarding, and potential impacts associated with change.
- Net gain: Present a quantifiable overall impact with numbers and credible supporting insights. a) If… (company) (action) b) Then… (overall impact with numbers) c) Based on… (calculations)
- Credibility: Back the promised net gain with supporting insight.
- Consensus building: Ensure relevance to all stakeholders, enabling consensus.
- Action plan: Develop a plan for turning desire into measurable outcomes.
Building an emotional case
While the business case appeals to logic, addressing emotional reasons is equally vital and these may well be different for every stakeholder. Consider:
- Their decision-making style. Do you understand how they go about decision-making? Consider this simple model, are they:a) Data-driven, analytical decision-makers: “Numbers never lie, they inform what is the best decision to take.” b) Controlling: “Better to make a decision now and deal with the consequences as opposed to delaying and potentially never making a decision.” c) Consensus-driven: “We are all in this together, we all need to support the decision as teamwork will deliver success.”d) Creative: “The fun is coming up with the solution, different and imaginative is great. Don’t worry about the practicalities others will deal with that.”
- Impact assessment: Understand how the decision affects stakeholders personally and address negative impacts. The negative impacts to understand could include:a) If I made the previous decision, does it look like I made a poor decision? b) What is the impact of change to me and my team? c) Are there any other solutions at stake if we stop using incumbent? d) Is this truly important to me?
- Alignment with company strategy: Recognise the influence of stakeholders’ job history on their perception of what is important. e.g. a CEO who rose to their position from a sales background will have a different perspective to that of one that came through R&D or Finance.
It may be an oversimplification but the former may see growth achieved by selling more, whilst the latter may look for cost management.
Let me give you an example:
If a company aims for a 10% increase in EBIT (Earnings Before Interest and Taxes) for the year, and you’re trying to justify a return on investment (ROI) for an investment:
For a sales-oriented CEO: You might explain that by investing in improving staff retention and engagement, you can enhance the quality of service provided. This improved service quality is likely to result in customers spending more money, ultimately contributing to achieving the targeted growth in EBIT.
For a finance-oriented CEO: Your approach would be to focus on efficiency gains. You would emphasize how the investment can streamline operations, allowing the company to achieve the same level of output with fewer resources, particularly fewer staff members. This reduction in operational costs can directly contribute to increasing EBIT without necessarily relying on increased customer spending.
The key is to know what drives the person and tailor the message so they become emotionally engaged in the outcome of the decision.
Ultimately it is about the value you bring
Ultimately, the key to action lies in offering greater upside than downside. As a Sales Executive, continually assess if you are generating sufficient value for stakeholders to invest in the proposed action.
The reality of turning intent into action
To effectively turn intent into action:
- Know your stakeholders: Identify emotional triggers that will create positive action.
- Build a compelling business case: Ensure that it’s quantifiable and personalise it to reflect the needs of stakeholders.
- Communication is key: Engage with all stakeholders to secure commitment.
- Invest time for success: The more time invested, the higher the likelihood of success.
Next week I will be sharing how to shift from obsessing over competitors to guiding buyers strategically.
If you’d like us to teach your team how to sell with a buyer’s perspective, please contact us via the form below and a member of our team will get back to you promptly.
