Building Trust and Sales Ethics

Building Trust and Sales Ethics

Module Two

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Learning ObjectivesLearning Objectives

1. Explain the importance of trust.

2. Discuss the distinguishing characteristics of trust-based selling.

3. Discuss how to earn trust.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Learning ObjectivesLearning Objectives

4. Explain how the knowledge bases help build trust and relationships.

5. Understand the importance of sales ethics.

6. Discuss three important areas of unethical behavior.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Setting the StageSetting the Stage

1. What were the characteristics Gwen Tranquillo possessed and demonstrated that helped her earn her customer’s trust?

2. How did Gwen demonstrate she was customer oriented and that Hershey wants what’s best for its customers?

The Importance of Trust

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Trust refers to the degree to which one person can rely on another when the former is dependent on the latter.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Why is Trust Important?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.

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.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Trust Develops When the Salesperson is:Trust Develops When the Salesperson is:

Candid

Expert

Customer Oriented

Dependable

Compatible

TrustTrust

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Trust Builder – ExpertiseTrust Builder – Expertise

Expert

The extent to which a salesperson possesses relevant knowledge and capability.

The salesperson knows what he/she needs to know. The salesperson and his/her company have the ability andresources to get the job done right.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Trust Builder – DependabilityTrust Builder – Dependability

Dependable

The extent to which a salesperson consistently and predictably follows through on commitments he/she makes to others.

Buyers can rely on the salesperson. The salesperson keeps his/her promises.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Trust Builder – CandorTrust Builder – Candor

Candid

The extent to which a salesperson is honest and upfront with others, especially with regard to issues/factors that may impact those others.

The salesperson is honest in his/her spoken word. The salesperson’s presentation is fair and balanced.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Trust Builder – Customer OrientationTrust Builder – Customer Orientation

Customer Oriented

The extent to which a salesperson values and protects the interests of his/her customers.

The salesperson truly cares about the partnership. The salesperson will go to bat for the customer.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Trust Builder - CompatibilityTrust Builder - Compatibility

Compatible

The extent to which a salesperson’s behaviors, actions, and personality are consistent with and/or appreciated by his/her customers.

The buyer likes doing business with the salesperson. The buyer likes doing business with the salesperson’s company.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Knowledge BasesKnowledge Bases

• Industry• Company• Product• Price and Promotion• Service• Market/Customer• Competitor• Technology

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Industry KnowledgeIndustry Knowledge

In order to develop and execute effective selling strategies, and to be viewed as a market information resource, salespeople must understand the dynamics, structure, culture, and forces that affect the industry or industries in which they work.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Company KnowledgeCompany Knowledge

Salespeople must understand their company’s culture, mission, goals, policies, and procedures so that they may effectively and accurately represent the company when interacting (e.g., negotiating) with its prospective and current customers.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Product KnowledgeProduct Knowledge

Salespeople must have a thorough understanding of their product offering(s) so that they are perceived (by the customer) as experts and capable of accurately matching those offerings to the needs of the customer.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Service KnowledgeService Knowledge

Closely tied to the market offer is the service and support an organization provides its customers. Salespeople must know their company’s service capabilities and then match those to the needs of their customers.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Promotion and Price KnowledgePromotion and Price Knowledge

Salespeople must be capable of administering promotional programs and answering related questions in order to facilitate their customers’ participation. In addition, salespeople must understand the pricing structure of their products so that they may negotiate accordingly with the buyer.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Market and Customer KnowledgeMarket and Customer Knowledge

Salespeople must possess knowledge of the markets they serve in orderto develop and implement effective selling strategies. In addition, salespeople must understand their customers, including needs, personalities, and communication styles so that may be able to create and clearly communicate relevant solutions.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Competitor KnowledgeCompetitor Knowledge

Salespeople must posses knowledge of their competitors so that they know how to position their products against those of their competitors’.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Technology KnowledgeTechnology Knowledge

Salespeople must understand how to take advantage of technology (e.g., internet, computer, and telecommunications) that may help them be more competitive.

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

EthicsEthics

Ethics refers to right and wrong conduct of individuals and institutions of which they are a part.

Clearly WrongClearly Wrong

Clearly Right

Clearly Right

Ethical DilemmaEthical

Dilemma

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Image of SalespeopleImage of Salespeople

Ingram LaForge Avila

Schwepker Jr. WilliamsProfessional Selling:A Trust-Based Approach

Module 2:Building Trust and Sales Ethics

Areas of Unethical BehaviorAreas of Unethical Behavior

ExaggerateWithholdDeceiveHustleScamBluff

Deceptive PracticesMisuse Company

AssetsDefraud

Con

Illegal Activities

PushyHard Sell

Fast TalkingHigh Pressure

Non-Customer-Oriented Behavior