The hungry account executive: Part twoMichael McFarland, CMBknowledgeable, responsive, accessible, visible, enduring
I was at the park with my children. A cold front had blown
through the day before; the sky was a radiant blue, and the sun
warmed the chill out of the air. I noticed a classic piece of
playground equipment in between the rock wall and the giant wooden
castle—the seesaw. It had three 12-foot long boards evenly
spaced along side the other, each one centered on a metal pivot
bar. As I watched the children play, I witnessed the trust placed
in their friend to keep the seesaw moving. In that moment, I also
saw the pivotal roll account executives play as the center of
communication between their client and their office. Most of us who
are engaged in relationship-driven sales sell an intangible product
to clients that they buy based on how they feel about us. Good
feelings are fostered by trust—the give and take or the up
and down of the seesaw. No relationship, however, is devoid of bad
feelings or problems. Problems are opportunities to build a deeper
level of trust. Good sales people welcome these challenges as a
time to prove their value. Part one of this series described
"knowledge" as one essential tool in the successful sales person's
tool kit. The "responsive" tool of the KRAVE success method
describes how to ensure your value. The acronym, KRAVE, stands
for:
•Knowledgeable;
•Responsive;
•Accessible;
•Visible; and
•Enduring.
Responsive has many meanings. It is more than simply responding
to e-mail, voicemail and requests in a timely manner.
Responsiveness, as an aspect of a successful sales person, is
defined by his ability to provide accurate resolutions, proactively
manage expectations and identify recurring issues, and be the
internal advocate for the client.
It is easy to fall into the fear trap of losing a client's
business. The customer gets angry and threatens to quit playing.
Fear is the emotional response to a stressful situation, and an
irate client can certainly stimulate beads of sweat. A good amount
of time and energy is invested in a relationship, and it can be
difficult not to have an emotional attachment. Accurate resolutions
arise by squelching an emotional reaction and dealing directly with
the issue. Remember, you are the pivot point upon which both
parties rely. Most of the time, your client wants to be heard.
Allow him to respectfully vent his frustration. Once the steam is
off the kettle, define the nature of the problem, the desired
outcome and repeat it back for clarity. Armed with accuracy, you
can resolve the dispute. Your operations team will appreciate your
ability to efficiently problem-solve, which develops support within
your office, and everyone finds balance. Also, an internal staff
that finds you likable and trustworthy will help you win new
clients and keeps existing ones satisfied. Finally, if a customer
continuously threatens to send their business to a competitor, it
is time to re-evaluate the relationship. A client who uses this
fear tactic is probably taking up more of your time than he is
truly worth. Allow him to play somewhere else, and focus your time
on clients who appreciate the relationship and your
responsiveness.
Establishing realistic expectations with your operations team
upholds honesty and integrity with your customer. Do you know how
long it actually takes (not what policy states) to get a loan
underwritten, to clear conditions and schedule a closing? There is
nothing wrong with being honest about what is actually happening.
Telling the truth about what your office can actually provide keeps
you out of hot water with your client. It also allows your client
to create expectations with his clientele, which keeps everyone in
the chain informed.
Responsive also means paying attention to the relationship
between your customer and your office. It means listening to what
your staff has to say about your client, trusting your instincts
and monitoring production reports. Do you notice recurring issues
on files or communications with your staff? How many loans are
closing versus what has been submitted? A mutually beneficial
relationship has integrity. When a relationship becomes one-sided,
trust is eroded and bad feelings take root. The responsibility of
an account executive is to monitor the relationship for issues and
provide timely feedback, internally and externally, helping to keep
smiles on faces and the seesaw moving.
Another aspect of an account executive's job is to represent his
client, much like an attorney represents his client in front of a
judge. You take ownership of the relationship through advocacy. It
is a delicate juggling act. You have to balance the interests of
your staff and company with the needs of your customer. We go back
to the first facet of responsiveness. To be an internal advocate,
you must clearly define the nature of the problem. With the issue
defined, you must then rely upon your internal relationships to
find a resolution. First, work directly with the staff person
responsible for the area of concern. If that does not resolve the
issue, take it to the next level of management, and so on. Working
with your operations staff is about respecting their abilities. The
branch manager does not have the time to solve every problem. They
have line managers who should be empowered to make decisions. Also,
you need to know the risk appetite and policies of your company.
While it makes sense to work to find a solution to an underwriting
condition, it is a waste of time to ask for a loan-to-value
exception when your company policy will not allow it. Some requests
are worth fighting for and others are better handled by standing
your company's ground. You don't want to upset the judge with
frivolous objections. Understanding your company's risk appetite
and policies will earn you the respect of your staff and your
client.
Clearly, the "responsive" tool of KRAVE centers on the account
executive's ability to communicate, manage and resolve issues to
build trust. You are the liaison between your office and your
client, the eyes and ears of both parties. Like a seesaw, you are
the pivot point balancing the needs of everyone. Your job is to
manage the give and take, so the party on the bottom does not
decide to hop off, sending the other crashing to the ground.
Michael McFarland, CMB, is a regional account manager for Stewart Lender
Services. He may be reached via e-mail at
[email protected]
or by phone at (713) 703-1124.
