As you would expect, I spend a lot of my time promoting ITB Partners to prospective clients who may need our consulting services. Additionally, I talk with many people who want to affiliate with our company to leverage their resources and create a sustainable independent consulting practice. This week was typical in that respect.
Of course, all my meetings are interesting. I learn a lot from these conversations. One conversation stood apart this week. I received a phone call from a lady I have known for many years. A millennial, she’s been developing a sideline business. She started by purchasing unclaimed freight and reselling that merchandise through Facebook. As she learned about her customers and her skill set, her business became focused on selling women’s clothing. She has positioned herself as a fashion consultant. Her unique selling proposition is helping women purchase clothing that best suits their body type and personal style. As her business model requires consultative selling, I was very interested to learn how she connects with her clients and the process she uses to generate business. She was very gracious as she answered all my questions.
Consulting services are categorized as intangible sales. The product we sell is an improved future ‘state of being’ compared to the current situation. The desired ‘state of being’ cannot be experienced physically. One cannot see the outcome with their eyes; they cannot touch or taste the product as it currently doesn’t exist. The product may be a significant increase in revenue, lower operating costs, greater profitability, or reduced risk. These states can be measured only after they have occurred. Those of us selling consulting services must conduct ourselves like a physician. We want to make our clients feel better.
Last week I wrote about the value of listening which I believe to be an essential skill. I am convinced that it is the most important tool required to be a good consultant. I have been faithfully working to improve this skill. Toward that end, I remind myself to concentrate on what the other person is saying and to squelch thoughts about my response. As with most sales processes, my meetings are about gathering information to qualify prospective clients, not to debate. I endeavor to listen carefully and ask questions that yield useful information. Asking the right questions is required to keep the conversation flowing.
I am fond of using the physician as an analogy for the consultant. Before the physician can convince the patient on a course of action (to resolve a problem) she must gain the patient’s trust and confidence. The patient must be assured that the physician is prescribing a treatment that is in their best interest and that the physician is competent. It is the same process for an independent consultant. The first step is to gain the trust of the prospect and then to establish confidence. To begin the process of creating trust, the consultant must establish rapport. We do that by asking questions and listening thoughtfully to the prospect’s response. Questions that reveal the prospect’s situation, concerns, and fears help the consultant understand the nature of the problem to be solved. It also demonstrates empathy which establishes rapport. Like a physician, we want to know ‘where it hurts,’ and to understand the prospect’s ideal situation. Asking follow-up questions shows the prospect that you have a sincere interest to help them resolve their problems. Sincerity on your part will establish trust.
When you’ve established trust, you can work to gain confidence. Establishing confidence is based on quantifiable results. In other words, how many times have you completed the prescribed work and what is your success rate? If you are a surgeon prescribing a heart transplant, the patient will want to know how many heart transplants you’ve completed and if you lost any patients. This is a good time to have references available to ‘sing your praises.’
To be successful selling an intangible product like consulting services requires that you create a bond with the prospect. Creating a bond, or establishing rapport is accomplished by listening carefully to understand the prospect’s pain. Asking follow-up questions to completely understand the extent of the prospect’s situation helps ensure that you will close the deal. So, take time to ask good questions, listen carefully, and close more deals.
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Jim Weber, Managing Partner
ITB PARTNERS
North Fulton Business RadioX Interview, September 26, 2019
Author of: Fighting Alligators, Job Search Strategy For The New Normal