Selling in the Virtual World - Part 2

Executive Interview with Andy Stearns, Head of Commercial Card Acquisitions, Capital One

Virtual interactions provide the ability to include more players in the selling process. This is a valuable add and drives overall collaboration. In part two of this two-part series, Dave Eddleman, principal at Alexander Group, continued his discussion on selling in a virtual world with Andy Stearns, head of commercial card acquisitions at Capital One.

While discussing a range of related topics from lead generation to the adoption of implementation models, Stearns confirmed that in the larger upmarket customer segments, in addition to bringing more players to the sales cycle, virtual selling has been a significant benefit. Salespeople with different expertise can now collaborate which has increased the value proposition to prospects.

Eddleman inquired about whether there is a possibility of getting too comfortable with this model and asked about what the new normal will look like. Stearns is seeing a more calculated approach from associates. Sales associates are spending more time doing the required needs assessment at the onset to determine when it’s worth driving out to see a customer.

While much of the selling remains virtual, Stearns speculates an increase in more in-person connections, especially for customers who have missed it. But it is evident that a hybrid model will stick and likely be the best solution for the future.

The last and most important piece of this is making sure companies have the required infrastructure to support this new model not just for communication but also for talent retention. A huge enabler for a successful sales team in Stearn’s opinion.

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