John Porter Reflection

John Porter came and spoke to our sales class on Wednesday, January 22.  He currently works at UBS in wealth management.  Porter uses sales every day, especially non-sales selling.  He builds relationships with his customers and potential customers.  Porter made a few key points.  First, use your network.  Second, you cannot sell something you do not know.  Third, know when to shut up.  Fourth, if you say you are going to follow up, follow up quickly.  Fifth, go for no.  Throughout the whole selling process, do not be fake because the customer will sniff that out.

Porter used the term “friend-raising.”  I found this so interesting because it demonstrated the value of a network.  People buy from who they like and trust.  Therefore, if a friend tells someone to buy something, this person will more likely do it due to the relationship he or she has with that friend.  I would think that a network was important for getting a job or internship, but that value does not decrease once you have that job.  A network is so beneficial to help your sales.

Also, Porter talked about how it is important to stop talking once you have made the sale.  This is not something I had thought about before.  You can lose the sale after its made.  This ties into going for no.  Porter talked about how you have to know what type of no you are getting.  Both of these points demonstrate the value of being intuitive and reading and understanding your customer or potential customer.  He said that you have to know what you are selling, but it is also so important to know to whom you are selling to because then you are able to tailor your pitch to that person.

Overall, John Porter’s discussion helped to more fully develop a view on the sales process.  There are so many moving parts.  It is not just about the pitch, but also understanding your customer and what he or she values.  The end of the sale is essential to capturing the sale.  It is all about the customer and serving his or her best interest.