Page 22 - Investment Advisor March 2021

RIA LESSONS & LEADERS

By Mark Elzweig

5 Sales Insights from Dan Pink

The bestselling author has many helpful tips for advisors.

uthor Dan Pink’s bestseller “To
Sell is Human: The Surprising
A Truth About Moving Others”
offers lots of valuable observations
that can enable us to optimize our suc-
cess in sales. Advisors should focus on
these five:

1. EXTROVERTS DON’T NECESSARILY
MAKE THE BEST SALESPEOPLE.
There’s a widespread notion that chat-
ty extroverts stand out from the pack
as top salespeople. In fact, there’s no
research that supports this assertion.
Pink cites a study of 300 sales reps
at a software company. They were need to listen well enough to get inside Remember the “Bob the Builder”
measured on an introversion-extro- their head. animated show? I loved watching it
version continuum. Successful negotiators know this and with my kids for many years. Prior to
Unsurprisingly, extroverted sales- often subtlety mimic the mannerisms beginning a difficult project, Bob would
people sold more than their introverted of their opponents. If they lean forward always ask himself, “Can we build it?”
counterparts. But a third group outper- in their chair or put their hand on their His enthusiastic reply: “Yes we can!”
formed everyone — the ambiverts, who chin, then the negotiators wait 10 sec- One research project found that a self-
scored right in the middle of the scale. onds or so and do the same. questioning group solved nearly 50%
Pink says that extroverts often talk too We are wired by evolution to experi- more puzzles than the self-affirming
much and listen too little to really under- ence this synching behavior as a sign group. Researchers believe that there
stand their customers’ needs. Introverts that someone is trustworthy. One study are two explanations.
can be too shy to form relationships or found that wait staff who repeat orders First, when you ask yourself a ques-
to close sales. back to customers receive 70% more in tion, you prompt yourself to devise and
Ambiverts know how to find that tips than those who don’t. review strategies for accomplishing the
right balance. They are the most adept task. Mere affirmations feel good, but
at understanding their customers’ view- 3. EMBRACE THE POWER OF don’t give us any extra resources to actu-
points and moving them to action. INTERROGATIVE SELF TALK. ally boost our performance.
So if you’re not a salesperson with Sometimes before an important sales Second, asking the question reminds
the biggest “gift of gab,” take heart. Most presentation or client meeting, we us that we are internally driven to get
people tend to be ambiverts. And if psyche ourselves up with affirmations it done. People perform better when
you’re an ambivert, you’re well posi- like “I can do this!” or “I’ve got this!” But their motivation comes from within, as
tioned to succeed as an advisor. is there a better way? opposed to it being imposed upon them
Pink reveals that there are several by an external source.
2. PRACTICE STRATEGIC MIMICRY TO studies showing the superiority of asking
CLOSE MORE SALES. yourself a question before a challenging 4. POSITIVE EMOTIONS MAKE US Book cover courtesy of Dan Pink
The ability to persuade others depends task, rather than saying something like MORE RESILIENT.
on our talent to convey that we can “I can do this.” Surprisingly, if we ask Research suggests that if our positive
understand the world from the point ourselves, “Can I do this?” beforehand, emotions outweigh our negative ones
of view of clients and prospects. We we are likely to achieve superior results. by about a 3:1 ratio, we’ll be more resil-

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