In any Forex organization, like in many other sales intensive industries, a selected number of top sales professionals close most of the sales and receive the highest commissions, bonuses and benefits. Why this is happening and why most sales people cannot pursue a career in the Forex sales field?

1. THE 2 E’S OF FOREX SALES
Top Forex Sales People Basic Ingredients

2. TOP FOREX PEOPLE BASIC
INGREDIENTS
• Empathy: Empathy is the capacity to recognize
emotions that are being experienced by another
sentient or fictional being.
• Ego-drive: The need of one individual to persuade
another to a particular point of view and feel
satisfaction in having done so.

3. INTRODUCTION
In any Forex organization, like in many other sales intensive
industries, a selected number of top sales professionals close
most of the sales and receive the highest commissions, bonuses
and benefits. Why this is happening and why most sales people
cannot pursue a career in the Forex sales field?

4. SALES IN FOREX MARKETS
In any Forex organization, like in many other sales intensive industries, a
selected number of top sales professionals close most of the sales and
receive the highest commissions, bonuses and benefits. Why this is
happening and why most sales people cannot pursue a career in the Forex
sales field? Maybe most people are not incentives driven and cannot pursue
a highly bonus driven profession such as the Forex markets sales. Sales
profession in Forex markets is considered to be one of the most demanding in
terms of sales skills, markets awareness, and products knowledge, being the
most dynamically changing online trading industry in the world. There is no
mercy for those that stack in the middle, it’s a hunting field where the
toughest, smartest and above all most adaptive and knowledgeable sales
persons will thrive and succeed. But what are the main two qualities that
these people have? To be successful as a Forex sales professional, you
should understand these two qualities and be able to balance in them during
the sales process according to the needs of the clients.

5. EMPATHY
Definition: Empathy is the capacity to recognize emotions that are
being experienced by another sentient or fictional being.
In any Forex organization, like in many other sales intensive industries, a
selected number of top sales professionals close most of the sales and
receive the highest commissions, bonuses and benefits. Why this is
happening and why most sales people cannot pursue a career in the Forex
sales field? Maybe most people are not incentives driven and cannot pursue
a highly bonus driven profession such as the Forex markets sales. Sales
profession in Forex markets is considered to be one of the most demanding in
terms of sales skills, markets awareness, and products knowledge, being the
most dynamically changing online trading industry in the world. There is no
mercy for those that stack in the middle, it’s a hunting field where the
toughest, smartest and above all most adaptive and knowledgeable sales
persons will thrive and succeed. But what are the main two qualities that
these people have? To be successful as a Forex sales professional, you
should understand these two qualities and be able to balance in them during
the sales process according to the needs of the clients.

6. EGO-DRIVE
Definition: The need of one individual to persuade another to a
particular point of view and feel satisfaction in having done so.
Along with empathy, the other defining quality of a successful salesperson is a
powerful yet resilient ego-drive. Ego-drive is the need to win and to be validated by
others. A Forex salesperson with a powerful ego-drive cannot feel satisfied without
success. He feels a deep, inner need to close the sale, to be seen as the winner, and
to be rewarded and praised for his victory. This need to win is a much more significant
motivator for a top salesperson than any bonus or incentive plan. Because most
customers end up saying no, top salespeople must also be resilient. If you take
rejection personally and feel demoralized by it, you would have a lot of difficulty even if
you had all the other qualities of an effective salesperson. Usually, ego-driven sales
persons are mostly suitable for Forex “conversion” sales where the sales cycle is short
and more dynamic. The advantage of such sales persons is that they can convert a
large number of clients in a short period time while maintaining the company client
acquisition costs at low levels. The disadvantage of such Forex sales people is that
usually the clients are left with a bitter feeling of dissatisfaction which could end up in
loosing large number of clients in longer terms. It is of course up to the Forex
company to keep the dissatisfied client by using advanced customer service and sales
retention techniques.

7. HONESTY OF SALES PEOPLE IN FOREX
Unfortunately, neither sales training nor work experience are adequate predictors of
success in sales. Instead, successful salespeople usually have certain personal
qualities that are valued by customers. The qualities valued by customers include
honesty, empathy, knowledge of the product or service being sold and willingness to
advocate for the customer, along with the ability to communicate effectively. Forex
salespeople perceived as being pushy, unempathetic or dishonest are much less
successful. Additionally, in a highly regulated market like Forex, dishonesty in sales is
often punishable by regulatory authorities.

8. PRODUCT KNOWLEDGE IN FOREX SALES PEOPLE
If you have the essential qualities of empathy
and ego-drive, and if you are perceived by
customers as honest and on their side, you will
probably have success as a salesperson. To
continue to improve your sales skills, you should
know as much as possible about your
company's products and services. Product
knowledge is one of the characteristics most
valued by the customer, because it allows you to
answer customer questions quickly and
accurately. If you think of the customer as a
person with a problem to solve, then the more
you know about the product the easier it will be
to solve the problem and close the sale.

9. CONCLUSION
Closing, it would be wise to say that a
correct balance of ego drive along with a
degree of empathy against the client’s
problems and needs will give you a distinct
advantage in Forex sales conversions while
retaining your client base for long time.
Definitely, being honest and knowledgeable
about your products and services will keep
you in the top list of most successful Forex
sales people.
Your comments and views on this matter would be helpful for your associates, employers, and future colleagues in better serving the Forex
markets clientele, and keeping a good reputation of the Forex industry in general.
For private or personal comments you may contact me at: haris.constant@gmail.com