If all progress in the development of a business relationship will stall until an acceptable level of Trust is established, the time and the number of interactions required to establish Trust becomes a major factor in the cost of doing business.
This is particularly true when selling intangible products and services, or targeting mature age consumers, who have experienced more reasons to be cynical of the customer orientation of most sellers.
At one extreme, if the seller in a proposed transaction is a trusted member of the buyer’s family, Trust is instantly established and the transaction will proceed quickly and therefore at minimised cost and enhanced margin.
However, if the seller has been the subject of negative media attention, and operates in an industry considered in need of legislative control, the establishment of an acceptable level of Trust may require an extensive and expensive investment of time and resources.
The Bottom Line: The pace of progress to a mutually beneficial customer relationship is inextricably linked to the pace of establishing mutual Trust.
The best way to receive Trust? You extend it first!
Could you trust someone who doesn’t appear to trust you?
No comments:
Post a Comment