2 building trust and sales ethics developing trust and mutual respect with clients

2Building Trust and

Sales Ethics

Developing Trust and Mutual Respect with

Clients

2Learning Objectives

Explain what is trust.

Explain why trust is important.

Understand how to earn trust.

Know how knowledge bases help build trust and relationships.

Understand the importance of sales ethics.

L 1

L 2

L 3

L 4

L 5

2

The extent of the buyer’s _________ that he or she can ______ on the salesperson’s integrity.

What is Trust?

2Why 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 thoseorganizations’ salespeople toearn their customers’ ______________to the successof that strategy.

2How to Earn Trust

Trust___________

______________________

___________

___________

___________

2How to Earn Trust

Expertise: The _________, __________, and ________to meet customer expectations.

Expertise must translate into observable results and contribution for the buyer.

2How to Earn Trust

Dependability: ___________ of a person’s actions.

The salesperson must also demonstrate an ability to handle confidential information.

Predictability: The extent to which a salesperson’s behavior that can be foretold on the basis of observation or experience by a buyer.

2How to Earn Trust

Candor: Honesty of the spoken word.

It takes only one misleading event to lose all credibility.

It means _______________with others, especially with regard to issues/factors that may impact those others.

2How to Earn Trust

Customer Orientation: The act of salespeople placing as much _________________________ __________ as their own.

Salespeople with a customer orientation advise rather than “sell”.

2Ethical Dilemma

2How to Earn Trust

Compatibility: A salesperson’s _______________ with other individuals.

Customers generally like to deal with salespeople whom they can feel a bond.

2Readiness to Earn Trust

2Knowledge Bases Help Build

Trust and Relationships

Companies provide extensive training to prepare salespeople for the field.

2Training

2Industry Knowledge

Knowledge Need: the ___________, structure, culture, and forces that affect the industry or industries in which they work.

Benefit: ability to 1) develop and execute effective selling strategies, and 2) be viewed as a market information resource.

2Company Knowledge

Knowledge Need: understand their company’s ______, mission, ____, policies, and procedures.

Benefit: ability to effectively and accurately represent the company when interacting (e.g., negotiating) with its prospective and current customers.

2Product Knowledge

Knowledge Need: a thorough understanding of their product offerings and the various sources of value they provide

Benefit: be perceived (by the customer) as experts and capable of accurately matching solutions to the needs of the customer

2Service Knowledge

Knowledge Need: understand their company’s _________________, including limitations, fees, time-frames, and the value they add

Benefit: ability to match their company’s service capabilities to the needs of their customers

2Service Knowledge Areas

2Promotion and Price Knowledge

Knowledge Need: understand the details of, and how to manage, ____________________and the _______________of their products

Benefit: ability to 1) facilitate their customers’ participation in promotional programs and 2) effectively negotiate terms

2Market and Customer Knowledge

Knowledge Needs: understand the markets they serve and their customers, including needs, personalities, and communication styles.

Benefit: ability to 1) develop and implement effective selling strategies, and 2) clearly communicate relevant solutions.

2Competitor Knowledge

Knowledge Need: their competitors and respective market offers and ______________ _______________________.

Benefit: to position their products against those of their competitors’.

2Technology Knowledge

Knowledge Need: understand how utilize sales technology hardware and software (e.g., internet, CRM, laptops, smart phones)

Benefit: to leverage technology to me more competitive . . . work smarter not harder

2Technology in the Sales Effort

2Ethics

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

Clearly Right

Clearly Wrong

Ethical Dilemma

2Unethical Behavior

2Advice for Salespeople

2NonCustomer-Oriented Behavior

2Categories of Unethical Behavior

2Role Play