leveraging “trust” in the sales process

Leveraging “Trust” in the Sales Process

Bruce Rasmussen

BruceRasmussen@pdcaustralia.com

• 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

Bruce Rasmussen

BruceRasmussen@pdcaustralia.com

+61 414 878 714

www.pdcaustralia.com