leveraging “trust” in the sales process
DESCRIPTION
Leveraging “Trust” in the Sales Process. Bruce Rasmussen [email protected]. Sales people and ethics What is trust? How to market trust Improving the levels of trust. Can we trust the sales team?. 49%. 34%. 22%. ETHICAL SALESPERSON BEHAVIOR IN SALES RELATIONSHIPS - PowerPoint PPT PresentationTRANSCRIPT
• Sales people and ethics
• What is trust?• How to market trust• Improving the levels
of trust
CAN WE TRUST THE SALES TEAM?
49%
34%
22%ETHICAL SALESPERSON BEHAVIOR IN
SALES RELATIONSHIPSJournal of Personal Selling & Sales Management,
vol. XXIX, no.2.
Feedback – technical colleaguesWhy do you believe Sales has a “bad name”?
n=109 respondentsAustralia & NZ
• 59% believe the customer’s interests aren’t the primary focus
• 43% attribute it to the archetype
• 30% feel that “over promising and under delivering” is a major factor
Lack of sales skills
Lack of product knowledge
Dishonesty
Not understanding client needs
No post sale follow up
Not delivering what was "promised"
Salesperson ("car salesman", pushy, untrustworthy etc.)
Not caring about client needs
4%
13%
18%
21%
23%
30%
43%
59%
WHY IS IT SO?
1. NEXUS between BUYER and SELLER
2. SEPARATION from SUPERVISOR
3. INTENSE PRESSURE to PERFORM
4. SALES MANAGERS will OVERLOOK TRANSGRESSIONS
5. INVOLVEMENT in NEGOTIATIONS
The economics of trust
TRUST = SPEED + COST
TRUST = SPEED + COST
The myths around trustMYTH REALITY
Trust is softTrust is real, hard and quantifiable – speed and cost
Trust is slow Nothing is as fast
You have trust or you don’t Can be created or destroyed
Once lost, trust can’t returnDifficult – but trust can be restored
You can’t teach trustCan be taught and learned – strategic advantage
Trust is built solely on integrityTrust is a function of both CHARACTER and COMPETENCE
ECM – market restraints
Rank Driver 1-2 Yr 3-4 Yr 5-7 Yr1 Difficulty in understanding
business benefits High High Med
2 End user change management challenges High High Med
3 Mismatch between business needs and solutions offered High Med Med
4 Return on investment Med Med Med5 Long sales cycle Med Med Low
Source: Frost &Sullivan, 2006
ECM – market restraints
Rank Driver 1-2 Yr 3-4 Yr 5-7 Yr1 Difficulty in understanding
business benefits High High Med
2 End user change management challenges High High Med
3 Mismatch between business needs and solutions offered High Med Med
4 Return on investment Med Med Med5 Long sales cycle Med Med Low
Source: Frost &Sullivan, 2006
MARKETING TRUST
4 cores of credibility
INTEGRITY
INTENT
CAPABILITIES
RESULTSC
HA
RA
CTE
R
CO
MP
ETE
NC
E
WOMMARKETING
GUARANTEEDOUTCOME
PARTNERNETWORK
CASESTUDIES
Marketing and sales process
LEVERAGEDEPLOYAGREESOLVEELEVATEENGAGEATTRACTPLAN
Situation:
Problem:
Cause of Problem:
Implications of Problem:
Capabilities Provided:
Business Results:
GETTING A BETTER OUTCOME
…an empty sales funnel will drive mere mortals
towards desperate measures…
…there’s 5 days to the end of the quarter, and
you’re well short of target…
Metrics• Sales• Gross contribution
margin• Market share• Collections• Customer satisfaction• Activities• Salesperson
capabilities
Timing• Monthly• Quarterly• Annually
Focus• Product• Market segment• Channel• Company level
Data Views• Level• Growth• Target/goal• Ranking relative
to peers
Salespeople Sales force activities
Customer results
Company results
Sales Force Effectiveness Drivers
Salesperson DriversShapers• Recruiting• Training• Coaching• Culture formation• Compensation
Enlighteners• Customer research• Targeting• Data and tools• CRM systems
Exciters• Leadership• Compensation• Motivation programs• Meaningful work
Controllers• Performance
management• Coordination systems• Vertical and horizontal
communication• Compensation
Definers• Sales strategy• Go-to-market strategy• Sales force design
Sales Job Definer Drivers
