Trust in sales - 5 basic rules for every seller
"Those who trust earn up to 20 percent more than those with the greatest distrust", says a study of the University of California in Los Angeles . Why is trust in sales particularly important and you will learn, which 5 basic rules a seller should observe, in this article.
"Trust does not happen overnight, trust is a result of an enduring relationship.“ (Wozabal company philosophy)
In the nineties, the finance sector mainly advertised their products with direct promise oriented to trust; this was a slogan of the Deutsche Bank "Vertrauen ist der Anfang von allem" (trust is the start of everything). What was the "Ende" (end), could be seen from 2008 in the financial crisis. But despite these setbacks: Trust is the most important basis for all relationships, regardless whether in the private or professional sphere.
The two types of trust
- Trust in oneself and in ones abilities, self-confidence
- Trust in other people
The basic attitude towards it may date back to childhood. Small children have absolute trust in their environment, until they find that even they can be disappointed.
Are trusting people naive?
The behavioural scientist Julian Rotter is concerned with this question at the University of Connecticut. Neither did he find evidence to suggest that trusting people are more stupid or gullible than distrustful nor did he find evidence to suggest that trusting people are often short-changed.
"Believe that anything is possible, as long as you have not experienced the opposite." (Christian Lukas-Altenburg)
Trusting others always involves the risk of being disappointed.
Intelligent people trust more
The team around the author of the study Noah Carl came to the conclusion that intelligent people trust more than others, in a study of the Oxford University. This does not mean blind trust. In fact, the scientists assume that high intelligence is correlated with a better ability to judge character. Smart individuals can judge others better and are therefore more likely to know, whom they can trust and whom not.
Earn 20% more with trust
Jeffrey Butler, Paola Giuliano and Luigi Guiso from the University of California in Los Angeles examined this theory and found that (PDF): Those who trust earn up to 20 percent more than those with the greatest distrust. Too much (blind) trust can have the opposite effect: on a scale of 0 to 10 (= maximum trust), the top earners could be found on level 8. Those who were above it, earned on an average of 7 percent lesser.
How long do you think you require to judge the trustworthiness of a person? University of Berkeley provides the answer in this study : It is approximately 20 seconds. If you observe a stranger when he converses with another person, is also enough. Conclusive DNA-samples show that: Persons, who were classified by observers as particularly emphatic, have a special oxytocin receptor. "We can see the genes. People, who have this special gene, nod frequently, smile, maintain more eye contact and overall, have a more open body language."
Why is trust so important in business?
Trust in sales: Adherence to delivery dates, accessibility and reliability.
„If people like you, they`ll listen to you. But if they trust you, they`ll do business with you.“ Zig Ziglar
This builds trust
Trust is important but how can it be won? And what is required to build trust? Can you give it away and hope that it comes back?
That probably sounds a bit naive and could to be negligent.
The requirement for trust in the job is often just a phrase. Sounds good and nice, however, has nothing to do with reality. The following is applicable: Trust is an expression of an intact relationship - in private as in professional. Therefore, the same rules are applicable for both areas, how trust can be won and built.
The 5 rules of trust
- Communication: The regular open communication is the basis to establish and obtain trust.
- Be authentic: : Being authentic, also means being trustworthy. Say what you think, what you feel and most importantly, do what you say. People around you will then consciously or unconsciously judge you, whether your deeds measure up to your words. That does not mean you blurt out everything unfiltered but requires a feeling for the right moment and the correct "Takt" (time).
- Honesty: At work, you cannot always say everything and sometimes you may be in the know of secrets that everybody need not know. Then, before you tell a lie, it is preferable to remain silent. Or with a phrase such as, "Darüber kann ich jetzt noch nicht sprechen" (I cannot speak about it yet), to stick to the truth.
- Be honest with one's own faults: It is not a disgrace to learn from mistakes and to admit to this in front of colleagues and employees. Even a customer will perceive you as a trustworthy person with a sincere. "I am sorry I missed that, I will make up for it" instead of "Oh! the colleagues from dispatch botched that up."
- Time and persistence: Not Rome and not even trust can be built in one day. Some time or the other, the acid test is required to strengthen trust. Trust is good, a proof for a given situation, better.
Author: Franz-Xaver Burner, MBA
Franz-Xaver Burner is working at epunkt as Senior Recruiting Partner in the business and technology team since January 2016.
He brings over 25 years experience in Sales-Management in B2B. Since 2002, the sales-expert is also working as management consultant, trainer, business coach and mentor.