Establishing Credibility and Confidentiality
Trust. Every business wants it. Few actually get it.
The sad reality is that you probably look like a total fool in front of your prospects. That’s because most consumers these days are super-smart. They can see through your attempts to sell them something. They know what you’re “up to” when you engage in that “relationship building” nonsense.
Here’s what you need to do instead to earn your customer’s trust.
Stop Collecting Unnecessary Data
Most businesses are being sold on the idea of “big data” and that it’s necessary. But, what is it necessary for? For more sales? Maybe for a company like Target, it’s useful. But, even the retail giant has had its troubles that originated because of all that data. Plus, many customers just think it’s creepy for you to have all this information on them.
So, rule of thumb: only collect data that you absolutely need, like credit card data when you make the sale. email addresses when you want to send them promotional material, and name and address (possibly phone number) when you want to mail them something or confirm they received a package.
Otherwise, stop collecting so much information. If you couldn’t openly tell customers about the data you’re collecting on them (including buying habits), and have them not freak out, you shouldn’t have that data.
Create Win/Win Scenarios
Create win/win situations. Not win/lose or win/neutral deals. Companies, like SOC Audit do exactly that. They audit books for successful companies all the time. There are plenty of operations out there that are profitable. But not every customer trusts the company they do business with.
Sometimes, companies get business because they’re the only game in town. Sometimes, the company is a “necessary evil” in the minds of the buyer. Sometimes, the company is merely seen as the “least worst” of the bunch.
Embrace The Concept Of Transparency
The idea of being completely transparent terrifies most executives. Actually telling the truth about company products and services shouldn’t be a tortuous experience, however. If it is, you need to rethink your business model.
And, transparency isn’t just about telling the truth. It’s about displaying your company as an “open book,” and asking customers to come check you out.
It’s about showing potential customers your brand story in an authentic way, disclosing negative things about your company or shortfalls of your product or service, and letting the customer decide whether it’s worth the risk to do business with you.
It’s about being fair and transparent about pricing, not trying to trick customers with fancy promotions and marketing double-speak. Not trying to cheat customers through convoluted return processes or testing prices on unsuspecting customers and treating them as guinea pigs.
Listen More
You don’t always have to be talking or trying to convince prospects about your products and services. In fact, listening to what your prospects are saying is the best way to figure out what solutions you should be offering them. Interview current prospects.
Go on forums filled with people who are your target market and start asking questions. Or, lurk in the shadows and just observe. Listen to what they say, what their biggest fears are about, what they wish existed but doesn’t. Then, create products and services around that need.
It will show that you understand them and that you genuinely care about helping them. This differs from the traditional approach of creating a product and then inventing a problem. That almost never works, and it comes off as high-pressure.
Show, Don’t Tell
There’s an old saying in sales that you need to show people that your product or service can solve their problems, not just tell them it can. People won’t believe you if you tell them that you’re the greatest company in the world. But, they’ll believe it if everyone around them is saying so.
This is the power of referral business. How do you get other people to do that for you? You have to have something genuinely valuable and then sell it to them at a fair price. You have to demonstrate your product or service to your customers, either via your website, a video, or in person.
Don’t just say it does something, break it down for the customer and show them that it does what you say. Actually, don’t even tell them anything. Let them see for themselves. Customers can’t argue with reality.
And, it will instantly turn skeptics into buyers. And, those buyers into raving fans who will tell others.
