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The Trust Equation - A presentation by Javan Bramhall at Pathway2Grow
The document discusses how building trust increases sales. It outlines that trust is built through credibility, reliability, and an emotional connection with customers. Credibility can be established through testimonials, qualifications, track record, and associations. Reliability is about consistently doing what you say you will do. An emotional connection involves showing interest in customers and their needs over focusing on self-interest. Exercises are suggested to evaluate trust levels with different types of clients to improve relationships and increase business.
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The Trust Equation - A presentation by Javan Bramhall at Pathway2Grow
- 1. How Trust Increases Sales! APresentation by Javan Bramhall of Digital Glue @digitalglueuk on 26th August 2015 Pathway2Grow Business Networking NETWORK-LEARN-GROW
- 2. The Trust Equation Credibility+ Reliability + Emotional Connection ______________________________________ Self Interest
- 3. Credibility • Customer testimonials •Qualifications & Certifications • Track Record • Trade associations • Confidence
- 4. Reliability • Do whatyou say • Be on time • Under-promise & Over deliver • Create opportunities to demonstrate reliability
- 5. Emotional Connection / Likeability •What kind of person would you like to do business with? • Be Interested in them • What’s important to them? • What’s their background? • What do they like? • How can you help them?
- 6. Self Interest • “That’snot worth my time” • “The way we work is…” • “I don’t have time” • “What we do is…” • “You’ll have to…” (It’s all about me)
- 7. Exercise • Pick agood client • Do your trust scores with them • Pick a challenging client • Repeat • What’s the difference? • What do you have to work on?
- 8. New Business Pitches •Before the pitch • On the day • The opening few minutes • The closing • After the pitch
- 9. Meetings & Networking “Seekfirst to understand and then to be understood”
- 10. Company Perception • Tieor no tie? • Email • Website • Brochure
- 11.
Editor's Notes
- #2 Good afternoon My name is Javan Bramhall, I’m from a marketing agency based in Digbeth called Digital Glue. Now, One of our big mantra for our clients is the ability to deliver marketing that creates a Return on Investment. Return on investment can mean different things to certain people, in terms of what they want their return to be, but the truth is, in most instances that’s financial! The basic theory being that if I spend £x on marketing, I should be getting x in return… - we firmly believe that. So, why is this important in relation to trust. Well trust, is more of an intangible isn’t it, it’s something you have or don’t have, but you cant always put your finger on why not. In a book by three authors, David Maisters, Charles Green and Robert Galford, they look to give trust an equation. A way of measuring trust. Today, in the 30 minutes I’ve got with you, I want to introduce you to that equation, walk you through what it means in reality, and then give some examples of how and where it might fit into your business. And the equation is this.
- #3 Introduce equation. For me, this equation, while giving tangibility to trust, illustrates perfectly why it is so intangible to most people. When we’re building a relationship with somebody, and we can can’t quite figure out why we unable to get that prospect to convert into business, or we can’t quite understand why we find a client more challenging than others, the equation really shows how that one element missing from the top line, or a a lack of self-awareness from the bottom line can cause us the issue. A lady spoke last month in the book review section of this networking event about questions being the key to sales. I thought that beautifully illustrated the idea of self interest. Questions are the opposite of self interest, talking about ourselves, our product, what we do is a problem for sales and it’s a turn off… So – let’s dig into the equation and look at each element individually
- #4 Building credibility is important in any sales and marketing environment. Now, let me just say, that because it’s first on the equation and because I’m talking about it first, doesn’t mean it’s first in our conversation, all of these are part of a process and they will come in at different times. Customer testimonials – according to the stats, customer reviews are 12 times more trusted than manufacturer descriptions on ecommerce websites. We can see from the success of websites like ‘checkatrade’, ‘rated people’ or TripAdvisor, and the importance Google place on reviews of business, that we want to see what other people think of your business. Qualifications & certifications – Does the tradesmen your dealing with have the right qualifications and certificates to cover their work, does the education establishment have the right ofsted rating, does the person your employing have the right qualification to do the job you need. Is the business it ISO9001? Track record – This might be the number of years you’ve been in business, or if your business is young, the number of years you’ve been working in a specific field. Trade Associations – Is the business registered with the right industry bodies? Confidence – There is also an element of speaking about your subject area with confidence. This doesn’t mean coming across as completely arrogant or condescending, but being quietly confident that you know your stuff. Now, we’re not all naturally confident in different speaking environments, but by knowing the subjects we are happy to speak on, and also having the confidence to say, I don’t know when you don’t
- #5 Reliability is an interesting one because people often say to me that this takes time. That you can only demonstrate reliability over a period of time. To a point that’s true, but in order to illustrate how you can demonstrate reliability think about a sales enquiry. Lets say, you create an online form, and on that form it say, we will contact you back within 24 hours. Make sure you do. Then, on the phone call, you take their details, and let them know that they will receive a quote within 3 hours. Make sure you do. On the email that the quote goes across on, you let them know that you’ll call them at certain time the following day to check it covers what they need and get their feedback. Call them 1 minute before that time. So, in one potential opportunity, you have demonstrated reliability. You have clearly stated what you will do, and then done it! As a relationship progresses you will have more opportunities to demonstrate that reliability
- #6 A good example of this is Lawyers websites – lawyers are good at sending threatening letters, they can be quite scary. That’s part of their job. But that doesn’t mean their website images have to look like they don’t want to meet anybody and are going to be intimidating to potential clients. We have had many battles with lawyers about ties and facial expressions!! Where the opportunity presents itself, show an interest in the person you’re dealing with. Not just the business, but the weekend, family, hobbies. These small elements at the right time can mean that your relationship reaches out beyond just a business transaction. This is similar to the above, but perhaps more in a business sense. What is it that they need. What is their underlying issue? This comes from questions. Questions, by their very nature start showing that your interest is in them and their concerns and therefore start buildng emotional connection
- #7 Self interest, is almost the exact opposite of Emotional connection. You really can’t build emotional connection with people by being self interested. Now, it’s worth remembering at this stage that Self Interest undermines all of the other three. Now for me, it’s the thing that people get wrong more than most. Why, because we are often involved in what we are doing, what we need to do, how it works for us, these are thoughts going through our mind. But the truth is, that’s not what will help build our relationships.