2
Building Trust and
Sales Ethics
Developing Trust
and Mutual Respect
with Clients
Learning Objectives
L 1 Explain what is trust.
L 2 Explain why trust is important.
L 3 Understand how to earn trust.
Know how knowledge bases help
L 4
build trust and relationships.
Understand the importance of sales
L 5
ethics.
2
What is Trust?
The extent of the
buyer’s confidence
that he or she can
rely on the
salesperson’s
integrity.
2
Why is Trust Important?
A fundamental competitive strategy of a growing
number of organizations is to build long-term
mutually beneficial relationships with their
customers. The ability of those
organizations’ salespeople to
earn their customers’ trust
is essential to the success
of that strategy.
2
How to Earn Trust
2
Dependability
Customer
Orientation
Expertise
Candor
Trust
Compatibility
How to Earn Trust
Expertise: The ability,
knowledge, and resources to
meet customer expectations.
Expertise
must
translate into
observable
results and
contribution
for the buyer.
2
How to Earn Trust
Dependability: Predictability
of a person’s actions.
Predictability: The extent to which a salesperson’s
behavior that can be foretold on the basis of
observation or experience by a buyer.
The
salesperson
must also
demonstrate
an ability to
handle
confidential
information.
2
How to Earn Trust
Candor: Honesty of the
spoken word.
It means being upfront with others, especially
with regard to issues/factors that may impact
those others.
It takes only
one
misleading
event to lose
all credibility.
2
How to Earn Trust
Customer Orientation: The act
of salespeople placing as much
emphasis on the customer’s
interests as their own.
Salespeople
with a
customer
orientation
advise rather
than “sell”.
2
Ethical Dilemma
2
How to Earn Trust
Compatibility: A salesperson’s
commonalities with other
individuals.
Customers
generally like
to deal with
salespeople
whom they
can feel a
bond.
2
Readiness to Earn Trust
2
Knowledge Bases Help Build
Trust and Relationships
Companies
provide
extensive
training to
prepare
salespeople
for the field.
2
Training
2
Industry Knowledge
Knowledge Need: the dynamics, structure,
culture, and forces that affect the industry or
industries in which they work.
Benefit: ability to 1) develop and execute
effective selling strategies, and 2) be viewed as a
market information resource.
2
Company Knowledge
Knowledge Need: understand their company’s
culture, mission, goals, policies, and procedures.
Benefit: ability to effectively and accurately
represent the company when interacting (e.g.,
negotiating) with its prospective and current
customers.
2
Product Knowledge
2
Knowledge Need: a thorough understanding of
their product offerings and the various sources of
value they provide
Benefit: be perceived (by the customer) as experts
and capable of accurately matching solutions to the
needs of the customer
Service Knowledge
Knowledge Need: understand their company’s
service capabilities, including limitations, fees,
time-frames, and the value they add
Benefit: ability to match their company’s service
capabilities to the needs of their customers
2
Service Knowledge Areas
2
Promotion and Price Knowledge
Knowledge Need: understand the details of, and
how to manage, promotional programs and the
pricing policies of their products
Benefit: ability to 1) facilitate their customers’
participation in promotional programs and 2)
effectively negotiate terms
2
Market and Customer Knowledge
Knowledge Needs: understand the markets they
serve and their customers, including needs,
personalities, and communication styles.
Benefit: ability to 1) develop and implement
effective selling strategies, and 2) clearly
communicate relevant solutions.
2
Competitor Knowledge
Knowledge Need: their competitors and
respective market offers and how they are
perceived in the market.
Benefit: to position their products against those
of their competitors’.
2
Technology Knowledge
Knowledge Need: understand how utilize sales
technology hardware and software (e.g., internet,
CRM, laptops, smart phones)
Benefit: to leverage technology to me more
competitive . . . work smarter not harder
2
Technology in the Sales Effort
2
Ethics
Clearly
Right
Ethical
Dilemma
Clearly
Wrong
Ethics refers to right and wrong
conduct of individuals and
institutions of which they are a part.
2
Unethical Behavior
2
Advice for Salespeople
2
NonCustomer-Oriented Behavior
2
Categories of Unethical Behavior
2
Role Play
2