How are Business Acumen and Sales Intertwined?
If a salesperson doesn’t exude business acumen skills and qualities, their chances of successfully closing the deal will decrease. The traits that business acumen helps to advance are what make a trusted partner, and friend, and are a key component to the success of a sales team. Forbes published a wonderful article on the key qualities that make a great salesperson. Here are the 5 that stuck out to us:
5 Qualities to Enhance Your Sales Success:
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Finding an Emotional Connection
Find a deep connection to what you’re selling. It’s more common for people to buy based on feeling than on logic. So find that connection, it will help you to find and build it for your customers as well.
Understanding the Product
This is more than just understanding the product, you need to get to know your customer as an individual, their industry, their role and their struggles. Do your research! Name dropping can go a long way, so learn about the CEO, CFO, and key decision makers.
Exhibiting Emotional Intelligence
Speak competently. Present yourself as if you’re speaking to the CEO. Be knowledgeable about the things you're talking about and be honest about the things you don’t know.
Being Relatable and Knowledgeable
Be a friend and trusted partner. Nobody wants someone showing you features on their own agenda. Gain trust by putting yourself into their situation. Be somebody your customer looks to and confides in.
How is this related to business acumen?
Did you know, that only 20% of salespeople are successful in reaching executives' expectations and creating value? And studies also show that 64% of reps don't understand your industry, and 76% don't understand your business. Those are some brutal statistics.
In order to properly succeed in sales, you need to have the skill set to sell and also the knowledge of how business works. Without both, you either don’t understand your customers, or you don’t understand how your product relates to their business. So business acumen goes hand in hand with the skills required to make a consultative sell. Once you’ve mastered both, you’ll earn the right to connect to the senior leaders and decision-makers that you’ve been searching for.
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