Even experienced sales Management may encounter challenges when trying to engage with potential clients. Even when you have the ideal product or service for a prospect, the sales process can unexpectedly come to a halt, causing you to question what may be lacking in your approach, In today’s high-paced, highly competitive world of sales, we will be discussing the importance of using emotional intelligence in sales. Product expertise and technical skills are no doubt essential. However, most of us forget the most important thing, which is emotional intelligence. In this blog, we will discuss the importance of using emotional intelligence in sales.
WHAT IS EMOTIONAL INTELLIGENCE?
Emotional intelligence is the ability to control and navigate one’s own and other’s emotions and respond empathetically. Daniel Goleman has broken down Emotional intelligence into four components: Self Awareness, Self Management, Social Awareness, and Relationship Management.
Self-Awareness: This is the capacity to identify and comprehend your emotions.
Self-Management: This is your ability to control and manage your own emotions.
Social Awareness: Is the capacity to understand other people’s emotions and understand what’s going on.
Relationship Management: Is understanding of your own and others’ emotions to effectively navigate interactions.
DOES EMOTIONAL INTELLIGENCE IMPACT SALES?
A Harvard Business Review article claimed that 95% of consumer behavior, such as purchases, is driven by emotion. Customer’s decisions are influenced by their subconscious feelings, even without them realizing it.
Research indicates that 90% of top sales performers exhibit high Emotional Intelligence (EQ), which is twice as influential as IQ in facilitating personal and professional success. For example, At L’Oreal, sales professionals hired based on their EQ outperformed their peers by $91,370 at the end of the first year.
Possessing a strong emotional intelligence (EQ) can significantly impact a sales professional’s success, as it empowers them to engage with clients, establish trust and connections, and ultimately secure deals. Developing emotional intelligence is achievable with consistent practice and adaptation. Having a good EQ is essential in many situations especially when you’re trying to connect with a client or an employee on a personal level.
Now let’s apply Daniel Goleman’s theory in sales:
Importance of self-awareness in sales
Having self-awareness is a fundamental aspect of emotional intelligence. Recognizing your emotional triggers and understanding their influence on your behaviour is crucial. In sales being self aware helps you stay composed under pressure, which makes it easier to connect with clients. Additionally, a good salesperson can recognize when they might be overwhelming a potential client and can modify their tactics accordingly.
Self-management In Sales
Once have enough self-awareness, the next important step is managing your emotions. It Is important that one is able to regulate their own emotions effectively. Self-management in sales helps you handle rejection. Rejection is obviously inevitable in sales but salespersons with a good EQ understand that a “no” isn’t a rejection to them personally. Instead, they see rejection as an opportunity to grow and learn from. Additionally, a salesman with a good EQ doesn’t give up easily and is very enthusiastic and determined on making sales happen. Managing your emotions helps you avoid making hasty decisions, instead, it allows you to keep your emotions in check when dealing with challenging situations.
Social Awareness In Sales
Social awareness includes the ability to understand and empathize with others’ emotions. A client’s fear, inner conflict, and emotions plays a major role in their decision-making. By tuning into body language, tone of voice, and facial expressions, one can uncover valuable insights into a client’s genuine emotions and attend to any hidden worries. This profound understanding fosters trust and enhances client relationships.
Importance of relationship management in sales
Each potential client has their own unique needs in the early stages of the funnel, understanding their perspective and empathizing with the customers about their concerns can make it easy to address their issues. Emotionally intelligent salespersons can maintain good relationships with their clients because they have a knack for communicating in a manner that resonates with them. The objective of maintaining a good relationship with a client goes beyond a sales conversion. It is about the overall customer experience as well. A client who has a good emotionally intelligent experience will most likely become loyal to the company because of their positive interaction with the brand.
Conclusion
In summary, it’s important to recognize that emotional intelligence plays a pivotal but sometimes undervalued role in achieving success in sales. Even the most experienced salespersons can encounter challenges when they’re engaging with a potential client. Fortunately, EQ is a skill that can be developed through self-awareness, self-management, social awareness, and relationship management. By practicing active listening and using non-verbal cues one can understand their clients better and help them address their objectives.