3 Ways to Be More Generous in B2B Sales

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Good Morning and Welcome to Q4! It’s that magical time of the year when prospects start saying ‘Let’s push this to next year’, and your manager asks about ‘that deal’ every 4 hours. We’ve got 89 days left in 2024 and a lot of deals to close. But this is when sales legends are made. Happy selling out there. 🫡 

In today’s Follow Up:

• 3 ways to be generous (and sell more) 🤝 

• How to ask for a referral 🗣️ 

• 10 highest paying sales industries 🤑 

• Sales jobs, LinkedIn & a meme 😂

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3 Ways to Be More Generous (and Sell More)

There's an old saying that goes "The more you give, the more you get."

It seems like one of those nice things people say to make themselves feel better. But it turns out, there's actually real data behind it.

You know those mints that restaurants include with the bill? Those are more than just a nice gesture. They're a tactic.

A study by the Journal of Applied Social Psychology found that restaurants that gave a mint with the bill increased their tip amounts by nearly 23%, compared to when no mint was given.

That’s the power of reciprocity.

When you get something, you feel the need to give.

But how can we leverage the power of reciprocity and be more generous in B2B sales?

Here’s three ideas:

1. Send Gifts and Notes, Without an Ask.

The most powerful way to be generous is to give without expecting anything in return.

Try sending a prospect a:

• Short DM with a genuine compliment.

• Meaningful gift. (Jersey of their favorite team, tickets to a local show, etc.)

• Bottle of champagne when they close a funding round. (See Brex’s example).

• Article that's relevant to their business or interests.

The key is to do it without any strings attached.

Don't include an ask with your initial gift or outreach. Let your generosity speak for itself. And when it’s finally time to make your ask, they should have a tough time saying ‘no’.

2. Introductions and Referrals.

Generosity isn't limited to your prospects and customers.

Look for opportunities to give referrals and make connections for others in your network, even other sales reps.

You can’t solve every problem with your knowledge or the product you sell, but you might know someone who can.

When you connect people in your network, you build up goodwill that will come back in the future. The more you give to your network, the more your network will want to give back to you.

3. Give Advice, Even if it Loses the Sale.

Sometimes in the middle of a pitch, you'll realize your product isn't actually the best solution for the prospect.

For example, let’s say you’re talking to someone who thinks they need a new computer, but after some discovery, you find out they just need a new charger.

You could probably still convince them they need a new computer and collect your commission, but you know it’s not the best solution for them.

It’s moments like these where being generous with your expertise might feel like it’s hurting you in the short term, but selling them something they don't need will damage trust in the long run.

When you're generous with your advice and recommendations, you build a reputation as a trusted advisor. And that's when prospects start seeking you out.

The Happiness Boomerang

Here's the best part about being generous: it won't just improve your sales. It will probably make you happier too.

Researchers have found that the part of our brain associated with happiness is stimulated by giving to a degree roughly equivalent to receiving. The more you give, the more your brain releases chemicals like oxytocin and dopamine that boost your mood and overall well-being.

Not only will you likely get more than you give, but you'll probably find yourself smiling a whole lot more along the way.

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Sales Around The Web 🗞️

📽️ How Steve Ballmer became Microsoft’s best salesman and made $125 billion.

🪖 Sales reps need mental health ‘helmets’ to deal with their neurotic tendencies.

🤑 The 10 highest paying sales roles and industries according to the Bureau of Labor Statics.

🤔 A sales rep on Reddit gives a reminder that sales is a transferable skill that you can use to get another job.

Checking In On LinkedIn

Make your first call count… or you might end up as ‘Ashley: Gym’ in someone’s phone.

Sales Meme of the Day