Managing expectations is one of the most critical skills of a rainmaker. A sustainable relationship cannot exist without it.
Overpromising sometimes makes a quick sale but mainly leads to disappointment. Rainmakers understand their company’s product limitations and benefits equally well. And they communicate both because customers value honesty.
As a salesperson, you paint a picture in the head of the client. Some of us paint a beautiful picture that attracts attention and money. That picture will always be a reference point for what you deliver. When you don’t give what you promised, you will harvest disappointment. The probability of a long-term client relationship diminishes.
Speak the truth at the beginning. Sometimes this means speaking an uncomfortable truth. Do not claim things that you cannot prove. Beware of false promises. You’ll create a long-lasting positive impression when you underpromise and overdeliver. It’s not about the first quick sale. Your goal is to build trust as a foundation for a long and healthy business relationship.
What you promise and deliver determines the level of trust you earn.
The Anecdote
In his book “Chop Wood Carry Water, ” Joshua Medcalf describes the story of a Japanese architect. His name was Kota. After a very long and successful career of building the finest houses, Kota wanted to retire. But before he let him go, his boss asked him to create one last building. Out of obligation and with his mind already in retirement mode, Kota built the last house. It went not as smoothly, but he finally finished home as usual. After that, he handed in his two-week notice and said goodbye to his boss.
In an unexpected move, his boss turned to him and gave him a little box as a present. Within the box was a key. And it was the key to the home that Kota had just built. The boss said the house was a gift for his lifelong service in making the finest quality homes.
Kota couldn’t appreciate the kind gesture as he was grieving about himself. He knew that he could’ve done a better job. If he only had known in advance, he would have shown more enthusiasm, used the best materials, and paid attention to every detail.
How could the architect and his boss prevent the unsatisfying outcome?
Kota could’ve managed the expectation of his boss and vice versa. E.g., by telling him upfront that, due to his longing for retirement, he’s not in his best mood anymore to build another home.
The boss could’ve told Kota that he expects the best quality possible. Or that the home will be for Kota himself. Instead, he opted for a big surprise as he put his trust in Kota’s usual level of performance.
The principle of trust
Trust is part of the operating system in any human society. Neuroscientific research shows that trust is hardwired into our brains. It serves as a regulator for social behavior. Without trust, there would be no social connectivity, collaboration, and progress.
Trust is a person’s belief in another person’s reliability, capability, and the truth in what they say. The trusting party makes itself vulnerable to emotional, financial, and reputation loss. Trust will be lost or diminished if the delivering person does not follow up on their promises or even betrays the other person.
Managing expectations is a tool that helps us to preserve trust. It lowers the risk of disappointment and strengthens the other party’s belief in your honesty.
How to practice
Here are four things that have helped rainmakers in the past to manage expectations well:
Pre-mortem
A pre-mortem is an exercise where you imagine the worst possible outcome for the project. E.g., The project has failed. The patient is dead. The client is gone.
Consider the following situation: You sold your solution or service to the client. After delivery, the client tells you they weren’t satisfied with the results and won’t give you any more business. They choose another vendor and give you no chance of any return. What has led to that situation? When doing this exercise in a group, let everybody write down 1-2 reasons. Of course, things on the list must have your attention. Ideally, if you can control them, you must prevent them from happening. If not, flag them as risks to the client early on.
Honest objection handling
Objections will come in every sales call. Most salespeople have developed an arsenal of replies to the most frequent ones. It’s important to remember that objections are not only a hurdle to overcome but also represent a real customer concern. Some objections name the limitations of your offering. Then it’s OK to say: “Yes, Ms. Customer, you are right, that feature is not a part of our service. Instead, I can guarantee outstanding delivery on XYZ.”.
Proper Needs analysis
One of the first steps in the sales process is identifying the client’s needs. You must learn about the underlying problem to solve. Ask yourself if you can solve the problem with your current capabilities. Which parts of the problem are you able to solve – which not? Maybe you need complementary partners to deliver the perfect solution.
Regular expectation check-in
Plan regular client check-ins in the delivery phase (after closing the sale). Always ask if you’ve delivered according to their expectations. If the client says no, explore what is going wrong. Especially important in those situations: Do not make it worse by adding false promises to get “everything back on track.” Sometimes that is not possible, and then you must admit it.