Tag Archives: trusted adviser

The 5 Best Ways to Build Trust With Your Clients

By Jeff Beals

Here are a couple indisputable truths about today’s business environment:

  1. Sales cycles are much faster than they were 10 years ago.
  2. Buyers are distracted and under much more pressure than they were in earlier times.

Because we now operate in a frenzied selling environment, some sales professionals believe there is no longer a need to develop trust. They argue that there’s not enough time to build trusting relationships, and even when you do have time, many buyers prefer to keep their vendors at arm’s length.

I disagree.

True, sales professionals must try harder to build trust, but the end result is well worth the effort.  The good news is that you don’t have to go from not knowing someone to lifelong confidant in one setting.  Build trust a little bit at a time.  When you first meet a prospective client, get to know them, build rapport and establish a relationship.  As you get serious about doing business together, there are five ways you can develop trust.  Keep doing these things over time, and you’ll develop a close friendship with a person who will become one of your all-time best clients.

Communication

Those sales professionals who go out of their way to communicate tend to build trust quicker and more deeply with clients. Detailed and timely communication removes suspicions and reassures clients.  Tell the truth and don’t procrastinate when you need to tell prospects things they don’t want to hear.  As former U.S. Secretary of State Colin Powell once said, “Bad news isn’t wine. It doesn’t improve with age.”

Another important part of communication is to say you are sorry when appropriate. It’s amazing how much an earnest and sincere apology can boost trust.

Moment of Truth

At some point in any given relationship, you will encounter a moment of truth, a time in which you will be faced with an important decision. How you decide to act determines if you “pass” the moment of truth.  If you do pass it, you build trust.  Fail it and the relationship could be irreparably damaged.

What are some moment-of-truth examples? When it’s tempting to lie but you tell the truth.  When you have a choice to do something in your interest or your client’s interest and you choose the client’s. When you go the extra mile to help clients achieve their goals. When you screw up and do everything in your power to fix the situation.

Moments of truth are opportunities.  Embrace them as a chance to prove your trustworthiness and advance the relationship.  Every time you pass a moment of truth, no matter how small, trust becomes at least a little deeper.

Predictability

People trust other people whose behavior is predictable. If you are the type of person who responds to challenges in a consistently professional manner, you come across as trustworthy.

The best predictor of a person’s future actions is frequent past behavior. If you consistently establish frequent past behavior that is trustworthy, it will be much easier for you to be trusted in the future.

Social Proof

Robert Cialdini, the so-called “Godfather of Influence,” believes that social proof is one of the most important components of influence. You are far more likely to persuade someone’s thinking if you remember that “people follow the lead of similar others.”

Cialdini cited a study in which researchers went door-to-door collecting donations for a charity. When people answered the door, the researchers showed them a list of neighborhood residents who had already donated to the charity. The longer the donor list, the more likely prospective donors were to contribute.

In another study, New York City residents were asked to return a lost wallet to its owner. The New Yorkers were highly likely to attempt to return the wallet when they learned that another New Yorker had previously attempted to do so. But learning that someone from a foreign country had tried to return the wallet didn’t sway their decision one way or the other.

If social proof is so powerful, does it not make sense that you can more quickly build trust if respected people advocate on your behalf?  Smart sales practitioners assemble a group of past and current clients who can provide social proof and thus convey a greater sense of trustworthiness to future clients.

Rapid Responsiveness

Because all of humanity’s assembled knowledge is available on the little smart phones we carry in our pockets, people have become accustomed to getting any desired information immediately. That means we have to be ultra responsive to our prospects and current customers.  It’s no longer okay to wait 24 hours to return a message.  It must be done immediately.

Now that so much information is readily available, and people expect lightning-fast responses, you are now viewed as “untrustworthy” if you’re a slow communicator.  It’s almost people think you’re incompetent or perhaps hiding something if you take too long.  Speed is now equated with trust.

In closing, those who flourish in sales for many years endure because they put a premium on people. They build trusting relationships not just for financial gain but because it’s also the right thing to do.

Jeff Beals shows you how to find better prospects, close more deals and capture greater market share.  Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant. A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”

Here’s Why Should You Choose Jeff Beals as Your Next Speaker:

“Jeff Beals has presented four different topics at five of our internal events this year. At each event, the audience of commercial real estate principals and agents was completely engaged and motivated the entire time. Jeff facilitates his training sessions in such a way that each member of the audience was able to relate and understand how to apply it every day in the field. Jeff is brilliant, and we have hired him to continue speaking at our events next year!” – Lindsay Fierro, Senior Vice President, NAI Global, New York, NY

I’m in Phoenix and had breakfast earlier this morning with our semi-retired sales representative who is doing some continued work for us here.  He attended your sales meeting last week and told me that in 43 years of selling, you were the best he had ever heard.  Thanks for a great experience.” – Drew Vogel, President & CEO, Diamond Vogel Paints, Orange City, IA

“Our corporate partnership team had great takeaways regarding how to network smarter while also understanding the importance of our personal brand to current and prospective partners. Jeff does a great job weaving in real-world examples and how you can apply his teachings to growing your business and building long-term partnerships.” – Jason Booker, Senior Director of Corporate Sponsorships, The Kansas City Royals Major League Baseball Team

+1-402-637-9300

info@jeffbeals.com

Is Cross-Selling Actually a Bad Thing???

By Jeff Beals

Thanks to widespread media coverage of the recent Wells Fargo fake-account scandal, the sales profession has a new villain.

It’s called, “cross-selling.”

And you might add another villain to the list:

“Sales culture.”

In Wells Fargo’s world, cross-selling is the practice of getting customers to open and use as many of the bank’s products and services as possible. Some critics have claimed the practice led to a sales culture that incentivized employees to open unauthorized accounts.

Wells Fargo was fined $190 million a few weeks ago for opening nearly 2 million accounts without obtaining permission from customers. Wells Fargo revealed it has fired 5,300 employees who were found to have defrauded customers.  Some employees have sued Wells, claiming they were pushed by management to engage in unsavory selling tactics.

The process has apparently been going on for quite some time as evidenced by this clip from a Fortune magazine article in 2009:

“Wells, more than any big bank, makes its money by lending. It focuses on consumers and midsize businesses, which tend to be more profitable customers than Fortune 1,000 corporations that can raise money from many sources. And Wells relentlessly cross-sells everything, including credit cards and mortgages (to consumers) and treasury-management services and insurance (to businesses). Wells persuades each retail customer to buy an average of almost six products, roughly twice the level of a decade ago. Business customers average almost eight products per customer.”

Wells Fargo has rightly been criticized for the practice, and its CEO has been dragged before a Congressional committee.  Customers, government regulators and members of the public have understandably been outraged.

But whenever a big corporate scandal hits the news, you guarantee there will be an abundance of knee-jerk, overreactions.

Media coverage has cast a negative light on cross-selling and the existence of sales-oriented corporate cultures. However, bad behavior in one company does not necessarily mean that cross-selling and “having a sales culture” are bad things.

I had lunch yesterday with the owner of a mid-sized manufacturing company.  We were talking about how he could increase his sales but then pointedly said, “I don’t want us to have a sales culture at our company where we end up cross-selling like Wells Fargo!”

Uh oh…I’m afraid cross-selling is getting an undeserved bad name. I respect the business owner’s strong desire to maintain an ethical company, but is he jumping too far too soon?

Is cross-selling really all that bad?

No.

Companies need sales cultures where employees are incentivized to sell more. Companies need to cross-sell in order to maximize revenue and deliver the best products/services to customers.

Companies are selling organizations, period. Your company may manufacture a certain product, may deliver a certain service or may develop new intellectual thinking, but none of that matters if you don’t sell it.  What’s more, if a given product at your company is perfect for a given client, there’s a good chance that one of your complementary products may also be of value.

A sales-oriented culture is necessary to stay in business.

How do you know if your sales culture is okay?

The best way to avoid a sales scandal and treat customers ethically is to focus on customer value. The key is to determine exactly what your customers truly care about and then do an outstanding job of delivering it.

Meanwhile, communicate accurately, honestly and promptly with your clients.  If you are only selling what customers value and making sure they are well informed and constantly kept in the loop, you can be proud of your sales culture.

As long as you are the trusted adviser, the person who puts clients’ needs before your own, there will be plenty of opportunities to cross-sell thus making both you and the client very happy.

There’s a big difference between opening fake accounts, the existence of which customers knew nothing, and having a company culture that simply maximizes the ways you can engage a customer.

Jeff Beals shows you how to find better prospects, close more deals and capture greater market share.  Jeff is an international award-winning author, sought-after keynote speaker, and accomplished sales consultant. A frequent media guest, Jeff has been featured in Investor’s Business Daily, USA Today, Men’s Health, Chicago Tribune and The New York Times.”

Here’s Why Should You Choose Jeff Beals as Your Next Speaker:

“Jeff is sure to deliver an engaging and motivating speech! He cleverly ties together his stories and makes the speech end with a punch. Being the closing speaker is tough, but he stepped-up to the challenge and hit a home-run. Due to the high ratings and overwhelming response to re-watch his speech, we are planning on using his video during our NextGen watch party.”  – Megan Dotson, Senior Client Success Consultant & Event Director, GovLoop.com, Washington, DC

“Your workshop was a huge experience for our attendees by giving them the opportunity to improve their work in the critical environment in which we are living today. Your talent as a speaker and your qualities as a person made the difference during your time with us. I would certainly recommend you to anyone who asks.” – Ana Paula Costa, Educational Planner, Febracorp, Sao Paulo, Brazil

“Our corporate partnership team had great takeaways regarding how to network smarter while also understanding the importance of our personal brand to current and prospective partners. Jeff does a great job weaving in real-world examples and how you can apply his teachings to growing your business and
building long-term partnerships.” – Jason Booker, Senior Director of Corporate Sponsorships, The Kansas City Royals Major League Baseball Team

“If you are considering hiring Jeff, I will only say this: do it now. His ability to connect with an audience and explain the importance of telling the story is nothing short of extraordinary. The true litmus of any great speaker is authenticity. And when authenticity is coupled with an incredibly high amount of energy, humor, and engagement – you get Jeff.  I would highly recommend him to anyone who needs a speaker attendees will talk about for a long time to come.” – Alison Cody, Executive Director, Manufacturers’ Agents Association for the Foodservice Industry, Atlanta, GA

“I’m in Phoenix and had breakfast earlier this morning with our semi-retired sales representative who is doing some continued work for us here.  He attended your sales meeting last week and told me that in 43 years of selling, you were the best he had ever heard.  Thanks for a great experience.” – Drew Vogel, President & CEO, Diamond Vogel Paints, Orange City, IA

+1-402-917-5730

info@jeffbeals.com