Exceptional Service, Exceptional Profit | Leonardo Inghilleri

Summary of: Exceptional Service, Exceptional Profit: The Secrets of Building a Five-Star Customer Service Organization
By: Leonardo Inghilleri

Introduction

Get ready to transform your sales approach with the brilliant insights captured in ‘Exceptional Service, Exceptional Profit: The Secrets of Building a Five-Star Customer Service Organization’ by Leonardo Inghilleri. This book summary delves into high stakes sales and breaks the traditional mold of selling techniques by offering a step-by-step guide to establishing authentic connections and gaining your customer’s trust. Discover how to avoid common pitfalls, refine your communication skills, embrace a diagnostic mindset, and carry out a value lifecycle tailored for each client. Say goodbye to pushy persuasion and start engaging your customers in a true collaboration.

Ineffective Traditional Sales

The conventional approach to sales can be counter-productive in high-stakes sales situations. It may even create an adversarial dynamic between you and the prospect, blocking you from making a sale. The key to successful sales involves effective communication, building credibility, adding clarity, and earning trust and respect. These factors hold true regardless of how complex your sale is.

The Art of Productive Sales Conversations

Effective communication lies at the core of successful sales. This book emphasizes the importance of having mutually beneficial discussions and an engaging conversational style to compel customers to make a purchase. The author suggests that the likeliest cause of losing a sale is a communication failure. While most salespeople focus on honing their presentation skills, objection handling, and closing techniques, this approach often alienates prospects. The book emphasizes the need for a collaborative approach that fosters engagement and trust between the salesperson and the customer to achieve the desired result.

Communication in Sales

Effective communication is critical in sales. A person’s communication style often reflects their emotional mindset and past experiences. The parent, child, and adult mindsets are present in everyone. The adult mindset, which is objective and independent, is the most helpful for conducting sales conversations. Presentations and persuasion techniques are not always effective in sales. Behaving professionally and respectfully while keeping an emotional distance can help build credibility and trust. Rather than presenting, it is more helpful to connect with prospects by becoming a collaborator and adviser. Focusing on building relationships instead of making a sale is a more successful approach in sales.

Standing Out with a Customized Value Proposition

To distinguish your product from competitors, it’s necessary to transform the vague concept of “value” into a personalized “value lifecycle” for each customer. Many salespeople use cliché value phrases like “exceptional service” and fail to relate their solution to a specific buyer’s needs. The “value lifecycle” includes five stages: value proposition, assumption, requirement, expectation, and achievement. By guiding the customer through these stages, the salesperson can help them understand how the product satisfies their unique requirements and prevents potential pitfalls. Ultimately, customers become the judge and jury in the sale, while the salesperson serves as the expert guide.

The Art of Diagnostic Selling

In high-stakes sales, a professional needs to become a “decision process guide” and focus on value by conducting productive, forthright, and collaborative discussions. Diagnostic selling is always customer-focused, striving to solve observable problems and promote ownership. The salesperson differentiates themselves from their competitors by engaging customers as collaborative partners and limiting value propositions that customers may dismiss as empty words. The process of value diagnosis involves assessing value relevancy, change leadership, mutual self-esteem, mutual self-interest, and emotional maturity. This assessment helps prospects understand how a solution relates to their business, design a solution, and create change that serves the customer and provides value for the sale. Throughout, the salesperson must protect and respect both the customer’s self-esteem and their own. Emotional maturity is keeping a cool and rational approach that both involves and remains detached.

Revamping Conventional Selling

Conducting successful high-stakes sales requires a new four-step process: “Discover, diagnose, design and deliver.” This process involves identifying prospects, motivating them to change, building confidence, and ensuring that the value terms are agreed upon.

Effective Prospecting through Symptoms Identification

To effectively qualify prospects, the traditional approach advocates talking about a product or service first and then gauging interest. However, focusing on symptoms rather than solutions can yield better results. Begin by conducting research conversations with employees, vendors, and customers of the prospect’s company to identify an absence of value your product or service can fill. The engagement conversation with the executive who can authorize a change process within the organization must follow. Gain their sponsorship by explaining your value assumption, and secure relevant information for the next step in the process. Ultimately, customers don’t buy because they fail to understand the scope and consequences of their problems.

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