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December 2011
How Can You Increase Your Customer's Trust
to Make Faster Sales?
How many times have you or a sales colleague wondered
"Why is this deal taking so long to close?" There are many reasons but
we'd like to focus on one that is rarely discussed: The customer doesn't
trust they are getting a fair deal - and maybe they don't have enough
trust in you.
Since trust, like beauty, is in the eye of
the beholder, it is difficult to get specific on what it takes
to earn your customer's trust. However, we've identified several
actions you can take before and during the sales
process that can help you increase your customer's trust and
increase the chances that they will perceive the deal being
presented is fair. Shorter sales cycles will be the likely
result.
Before the sales process begins, here are
some actions that make it easier for a customer to believe
you are a vendor worthy of trust...
- Describe your offering and the value it delivers in the
customer's language, using terms the customer understands.
Focusing on features and focusing on how great your company
may be doesn't build trust.
- Make your pricing, packaging, and deal structuring sensible,
easy to understand and transparent. Transparency and clarity
may be the two most powerful trust-building tools at your
disposal.
- Avoid rampant discounting and "rogue" sales
behavior to build a reputation for dealing fairly with all
customers. Monitor discounts to ensure similarly-sized accounts
and transactions are charged similar amounts.
Executing on these actions consistently over
time lays a foundation of trust that gives sales reps an important
head start in establishing a trust-based relationship with
your customer - a relationship that will increase the likelihood
the sale will close quickly.
During the sales process the rep can build
trust by demonstrating an understanding of the prospect's
needs and is working towards meeting them. And, equally important,
the rep needs to avoid surprises throughout the sales process.
Here are some actions that can help...
- Make sure the deal is configured to be well aligned with
the customer's needs. Customers don't want to feel they
haven't been heard, and they don't like to buy or pay for
what they don't need.
- Make sure value propositions take into account the concerns
of the various parties involved in the purchase decision.
Using off-the shelf sales materials that don't resonate
with the customer won't build trust.
- Anticipate and deal with any "skeletons in the closet"
if you are dealing with an existing customer. Review account
history so you are prepared to deal with past events that
could taint the current sale and the future relationship.
- Balance the needs of both you and your customer when presenting
and modifying contracts. Contracts that overwhelmingly favor
your side undermine trust and the perception of fairness
and will slow down a sale due to protracted legal negotiations.
In a time of increasing distrust, it doesn't take much to
gain the trust of a prospect or customer. Is your company
trustworthy enough to take the required steps?
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