Using Cognitive Behavioral Therapy to Improve Sales.

At its core, Cognitive Behavioral Therapy says that what we THINK affects how we FEEL. What we FEEL affects how we ACT. And, how we ACT reinforces what we THINK.

Cognitive Behavioral Therapy Cycle

If we can accept this basic premise, then it’s easy to see how a positive outlook can spiral up where a “haters” gonna crash.

Let’s focus on an example of how this may be impacting your credit union right now.

Your management team has spent weeks creating a new product that no one else in your market has. While there is a ton of value built into the product, it requires some basic technology investments so you need to charge a reasonable monthly fee for it.

You put great effort into creating all the necessary staff training, focusing on the competitive differentiation, the benefits to the member and the operational requirements of actually opening the product in your core.

Once you go live, it can go one of two ways:

1)      Your team is excited about the benefits and are stoked to have a new product that no other institution has. They THINK the product is great, so they FEEL excited to talk about it. They now ACT by talking positively about it to your members. With your team’s enthusiasm, the product sells making your team THINK, “man this thing is awesome!” They then FEEL more confident and excited and they ACT by selling it harder. Oooooor … same staff, same product, same training, same members …

2)      Your team focuses on the monthly fee. They THINK, “the last thing our members need is another fee. No one will want this.” They FEEL worried to talk about the product because they assume the member will say no to the fee. They ACT by either not mentioning the product at all or “apologizing” for the fee upfront. With your team’s apprehension the product does not sell so the team THINKS, “yep, this one was a dud.” They FEEL even worse about the product and do not ACT to sell it.

As managers, we need to understand that we can break the cycle at any point. Here are some tips:

• We need to train our team to think in a positive way. They need to be able to identify the negative thoughts and restate those thoughts in their mind in positive terms.

• If you have a team member who is always negative, ask them questions to broaden their thinking and challenge their beliefs. For this example, perhaps ask, “if a member uses the product, do the benefits outweigh the fee each month?”

• Help them conquer their fear of the product by getting them to use it. If they see the value themselves, they may think more positively. Perhaps launch the product to staff only for a month before you go live in the branches and online.

• Get them to hone their skills in the initial training. Ask your team to sell YOU the product. To provide reasons to buy. Perhaps role-play with each other.

• Teach your team to reduce stress. It is survival instinct to avoid conflict if you are stressed. This includes hearing a member say, “no.” Teach your team imagery, muscle relaxation and deep-breathing exercises. Perhaps ensure that a short break is taken between appointments to gather their thoughts and emotions ... to reset.

Here's the best part ... These really aren't SALES tips. These are ways for you and your team to feel better about EVERYTHING you do.

• Be curious about your thoughts.

• Think about whether they are positive or negative.

• If you catch yourself in a negative thought, try to restate it as a positive in your head.

• Don't attack yourself. Don't allow your thoughts to attack you. Spin them into something good.

Life is often a self-fulfilling prophecy. To use a cliche quote from Henry Ford, "Whether you think you can or you think you can't, you're right."