Posts

The Traveling Salesman? Or the Prisoner’s Dilemma?

/2 Comments/in , , , /by

The Prisoner’s Dilemma is a classic conundrum in game theory. It purports to explain why two people might not cooperate, even if it is in both their best interests to do so.

It turns out that the solution to The Prisoner’s Dilemma is also the solution to a great many sales problems—those in which your customer doesn’t trust you. Are you living in the Dilemma? Or are you living in the solution?

The Dilemma of the Prisoner

Here is a classic version of The Prisoner’s Dilemma:

Two suspects are arrested by the police. The police have insufficient evidence for a conviction and, having separated the prisoners, visit each of them to offer the same deal:

  • If one testifies for the prosecution against the other (defects) and the other remains silent (cooperates), the defector goes free and the silent accomplice receives the full 10-year sentence.
  • If both remain silent, both prisoners are sentenced to only six months in jail for a minor charge.
  • If each betrays the other, each receives a five-year sentence.

Each prisoner must choose to betray the other or to remain silent. Each one is assured that the other would not know about the betrayal before the end of the investigation. How should the prisoners act?

What’s a poor prisoner to do?

If you analyze the situation rationally (the way a game theorist or economist defines that term), your odds are a lot worse if you remain silent – either you get 10 years or six months. But if you rat on your partner, you either get out free or, at worst, five years.

So, reasons the economist, Option A’s average “value” is five years and three months in prison. Option B’s average is two and a half years. “Ah ha,” says the economist’s rational player, “I’ll go for Option B.”

Of course, the other player does the same math and comes to the same conclusion. As a result, each gets five years in prison—a total of 10 prison-years between them.

The dilemma is that – if only the prisoners had cooperated with each other, they could have each gotten out with just six months in prison – a total of one prison-year between them.

The question is: why don’t they cooperate?

At least, that’s the economists’ question. In the real world, cooperation is quite common.

So the real question is: why do so many people listen to economists?

The Dilemma of the Salesperson

Before answering the Prisoner’s Dilemma, let’s note the similarity with The Salesperson’s Dilemma.

The salesperson has a similar series of trade-offs. For example:

  • “I could take some extra time to study up on tomorrow’s sales call, getting to know more about the prospect. That would improve the odds of my getting a sale tomorrow.”
  • “On the other hand, I could make another cold call with the time saved if I don’t spend it studying up for tomorrow’s call.”

Or, another example:

  • “I could tell them we have very little experience in this area, which would increase their sense of my honesty, which would help me in the long run.”
  • “On the other hand, experience might be the key in getting this job, so perhaps I should make the best case I can and fudge the rest.”

Still another:

  • “I could share a lot of my knowledge with them, which would really impress them and make them grateful to me.”
  • “On the other hand, if I give it all away in the sales call, they might just steal my knowledge and not pay me for it – perhaps I should wait until after we have a signed contract.”

And one more:

  • “I could go out on a limb and make some really far-sighted observations that would help them—it would go way beyond what they asked for.”
  • “On the other hand, we don’t have much trust built up yet. They might see that as presumptuous or unprofessional; I’ll just answer the questions they asked.”

Just as with The Prisoner’s Dilemma, if the salespersons continually choose Option B, they will sub-optimize. They will do cold calls, leading with no relationship, taking no risks, treating the customer like a competitive enemy, and offering no great help.

In other words, they’ll lose. Just like the prisoners.

In theory, the prisoners are identical, whereas the salesperson and the customer are distinct. But that’s theory. In the real world, sellers somehow tend to find buyers who are similar to them. Sellers who are fear-driven and guarded somehow often find buyers who justify their worst fears. (Or, what amounts to the same, sellers project fear, and buyers reciprocally return the same – as humans are wont to do).

Both seller and buyer often operate from the Prisoner’s script. And the result is just as sub-optimal.

The Prisoner’s Solution

As postulated by economists and game theorists, The Prisoner’s Dilemma is usually presented with two key assumptions:

  1. The game is played only once
  2. The players do not know each other

The solution lies in changing each of those assumptions. If you tell the players the game will be played 10 times, cooperative patterns begin to emerge. If it’s played 100 times, cooperative strategies take over.

If the players are given information about each other, they become less abstract to each other. If the information is personal, then the relationship changes tone as well.

These two dimensions – time and relationship – are critical. Without a sense of continuity over time, and without a sense of personal relationship, those playing the game will opt to “rat out” each other – even knowing that the result, system-wide, is negative for them on average. But given time and relationships—the optimal solution emerges. Everyone is better off.

In other words, the solution to behaving stupidly is to develop personal relationships over time. Now let’s see how that insight applies to selling.

The Sales Solution

The sales solution should look pretty obvious now. Suboptimal behavior is the result of short timeframes and shallow relationships. In a Prisoner’s Dilemma world, both buyer and seller fear each other, suspect the worst, don’t have relationships beyond the transaction, and are interested primarily in their own self-aggrandizement, without regard to cost to the other party.

If that sounds familiar, just look at what sales topics are hot these days: sales automation, lead screening, CRM, social media lead generation, predictive analytics, search-based prospecting, multi-channel messaging. Think about the last step in nearly every sales process model you’ve seen—closing.

What all these subjects have in common is a view of selling that is a) transactional and b) impersonal. In other words, they have short timeframes and weak relationships—two things sure to hurt sales.

Selling benefits from longer timeframes and better personal relationships. If you can stop thinking like an economist and work to eliminate the fear you and your buyers have, you’ll benefit from the long-lasting trustworthy relationships that develop as a result.

When to Offer a Lower Price

/0 Comments/in , , /by

Few decisions in business have such dramatic effects on customer perception as how you handle your pricing – in particular, when and how you offer discounts.

People may evaluate your products, or your service offerings, by averaging out multiple experiences. But drop your price just once, and see how hard it is to recover. For a large-scale example, recall Bill Ackman’s painful failure to revamp the image of JC Penney—away from frequent discounts to everyday low prices as a strategy. For a more personal example, just ask yourself – how often are you able to recover your normal pricing rates after having given an initial discount?

Yet in professional services and complex businesses, we play with offering discounts all the time. We tell ourselves, ‘The client wants it.’  ‘We might lose without it.’  ‘The competitor is cutting rates.’ ‘We can’t look inflexible.’  ‘What’s the big deal, how often do we get full rate anyway?’

Yet you’re right to be suspicious about the effectiveness of random hip-shooting when it comes to offering a lower price.  Shouldn’t we have some kind of strategy?

Don’t Just Stand There: Stand for Something

There is no one “right” approach to offering discounts. Your approach will vary with your business, your objectives, and your markets. But there are some things every approach should do:

  • You should have a rule for when to discount
  • That rule should be easily explainable to clients
  • You should be willing to live by the rule.

That may sound obvious. But how often have you heard things like, “Don’t tell Bill that we gave XYZ got that price; it’ll only encourage him to want it,” or “Those guys’ll do anything to get the business.” Those statements indicate a lack of policy – which is death on your reputation.

What to Stand For

Again, your business will vary. Here’s what I decided for mine. I run a high-end professional services business, offering speaking, training, coaching, and related services. I want to be known for solid relationships, high quality, professionalism, and subject matter expertise. And in my case, because the subject matter is trust, I also need to be seen as completely above suspicion.

It’s clear, then, that I need to articulate and live by some rules about when to discount. Here’s what I came up with over the years.

1. Frequency. I want to be at the opposite end of the spectrum from a JC Penney strategy of frequent discounting. I don’t want clients looking for bargains. If they’re looking to price shop, I want to send a not-so-subtle message that they’re in the wrong place.

2. Exceptions. To help that message, I need to be very clear about when and where discounts are appropriate. In my business, I can clearly state three such situations:

Volume. In my business, perhaps the biggest cost is cost of sales (the time, expense, and investment it takes to generate professional fees). It stands to reason that if someone can reduce my cost of sales, I have room to pass some of those savings along in lower prices.

The biggest example of that is simply a volume discount. The economics of selling one training session to 10 clients vs. selling 10 training sessions to one client are pretty clear. I am happy to receive multiple orders, and I’m happy to offer volume discounts to reflect it.

For me, volume discounts are easy to explain and easy to justify.

Special Situations—For Me. Sometimes I want to work in a new industry or with a novel offering.

Those situations are as important for me as they are for the client. In those cases, I will offer a significant discount. I don’t want to shave nickels; I want to send a message about what is important and what isn’t. And in those cases, it’s about the learning. Those kinds of discounts rarely happen.

Special Situations—For the Client. Non-profits never have the kind of money that corporations do; most associations are limited as well. I don’t say yes to all those requests, but when I do, it’s only reasonable to price “off-label.” (Government is a special case, and one I won’t go into here.) And yes, there are a few ‘friends’ discounts from time to time.

3. Non-Exceptions. That’s about it. That leaves a lot of other situations where I choose not to discount. It’s worth pointing them out:

Pleas for budget. Sorry, I have a list of charities I contribute to: corporations with a squeezed budget are not on the list. Make that ‘never on the list’ if you’re in the pharmaceutical or financial services industries, or if you have office space in midtown Manhattan.

Bargaining. I have a simple way of declaring that this is not a bazaar: transparency. I explain my business model, explain when and how I give discounts, and – that’s it. I recall one client who, after our initial phone call, said, “I assume that if we go ahead, you’ll grant us our customary 20% discount.” He assumed wrongly.

The Positive Alternative. “Just say no” may (or may not) be a good strategy for drug usage, but it’s not a satisfactory answer to a client on the receiving end. None of us like to be told no, even with a great explanation.

Over the years, I developed another business practice that turns out to have a great side benefit: making people appreciate my saying “no” to discount requests. That practice is to simply take a few minutes extra to talk with them about their situation and refer them to someone else who can help them.

I am a very small player in all the markets I play in. I am far from the only one providing great service. If someone doesn’t happen to fit my business model, they may be caviar and champagne for someone else’s model.

It costs nothing to spend a little time thinking about alternatives for clients who don’t quite fit with my needs, and it generates huge amounts of goodwill. It’s a small investment with a big marketing return: they may come back when they have a need that is a fit with me, and they may speak well of me to others. Not to mention, they’re no longer complaining about how I don’t discount.

Again, my model is not the only one. You have to decide what’s right for you. But whatever it is, it should be clear, it has to be explainable, and you should be willing to live by it.

If Selling Is Too Hard, You’re Doing It Wrong

/3 Comments/in /by

Many fine sales authors will tell you that an essential ingredient in selling—perhaps the essential ingredient—is effort. Gumption, grit, hustle, sweat—whatever the word, the image it conveys is that success in selling is tough. No pain, no gain.

Selling is a lot like football, this view says: the team that exerts the most effort is the team that wins. And there is a lot of truth in that viewpoint.

But consider another truth. Think about hitting a golf ball. As anyone who’s tried doing that can attest, the quality of your golf shot is in inverse proportion to your effort. That pleasing “thwock” of a well-struck iron almost never comes from trying hard.

Instead, the “trick” in golf is not how hard you swing—it’s how smooth, relaxed, and “at ease” your swing is. If you’re swinging too hard, you’re almost certainly doing it wrong. And there’s a lot of truth in that viewpoint as well.

I’ve learned that most dichotomies like this are false. Selling isn’t only like football or like golf. It’s both, in different aspects. But that’s a different article. This article is about just one side—the golf side, if you will, where if you’re working too hard at selling, you’re doing it wrong.

Adam Smith, Competition, and Selling

Blame it on Adam Smith’s The Wealth of Nations, if you will. The Scottish moral philosopher and economist famously claimed that by the self-oriented struggling of the butcher and the baker, the “invisible hand” of the market makes itself known by balancing out all for the greater good. Out of individual selfishness grows the maximum collective good.

While Smith has been unfairly characterized as arguing against regulation and in favor of unfettered free markets, there’s no question that his powerful formulation rhymes with competition—individuals seeking their own betterment. Perhaps ever since, business has been full of metaphors from war and sports. And nowhere are those metaphors more prevalent than in sales.

Here’s a partial list for just one sport alone: pitch, curve ball, hitting cleanup, bottom of the ninth, pinch hit, get our signals lined up, strike out, bases loaded, don’t swing at the first pitch, home field advantage, double play, we’re on the scoreboard, leaving men on base, pop-up, foul ball, home run hitter, shut-out, and so on.

Here’s the thing about sports metaphors: they’re all about competition. Real Madrid vs. Barca. Yankees vs. Red Sox. All Blacks vs. Wallabies. Seller vs. competitor.

And—most of all—seller vs. buyer.

Selling without Competition

It’s hard for most people to even conceive of selling without that competitive aspect between buyer and seller. Isn’t the point to get the sale? Isn’t closing the end of the sales process? If a competitor got the job, wouldn’t that be a loss? And why would you spend time on a “prospect” if the odds looked too low for a sale?

When we think this way, we spend an awful lot of energy. It’s hard work—particularly because much of it is spent trying to persuade customers to do what we (sellers) want them to do. And getting other people to do what we want them to do is never easy (if you have a teenager and/or a spouse, you know this well).

There is another way. It consists in simply and basically changing the entire approach to selling.

The first approach is the traditional, competitive, zero-sum-thinking, buyer vs. seller—the age-old dance that to this day gives selling a faint (or not-so-faint) bad name. It is one-sided, seller-driven, and greedy.

The new social media capabilities have not made this approach to selling go away—they have empowered it. Just look at your inbox, spam filters, LinkedIn requests, Twitter hustles, and pop-up ads on the Internet.

And boy do you have to work hard to sell that way.

The second approach is different. The fundamental distinction is that you’re working with the buyer, not against the buyer. Your interests are 100% aligned, not 63%. If you do business by relentlessly helping your customers do what’s right for them, selling gets remarkably easier.

You don’t have to think about what to share and what not to. You don’t have to control others. You don’t have to white-knuckle meetings and phone calls because there are no bad outcomes.

Selling this way works very well for one fundamental reason: all people (including buyers) want to deal with sellers they can trust—sellers who are honest, forthright, long-term driven, and customer-focused. All people (including buyers) prefer not to deal with sellers who are in it for themselves, and constantly in denial about it.

This is the golf part of selling: the part where if you lighten up, relax the muscles, let it flow, you end up with superior results. And there’s a whole lot of truth to that view. If you’re working too hard, you’re not getting the sale.

 

 

3 Principles to Positively Measure Sales Training Effectiveness

/18 Comments/in , /by

It’s an article of faith in business that “if you can’t measure it, you can’t manage it.” The alternative phrasing is, “What gets measured gets managed.”

Nowhere are those mantras more repeated than in the fields of corporate sales and training. And at the intersection—the field of sales training—it’s beyond an article of faith; it’s more like The Book.

And yet, in my admittedly limited experience (serving mainly high-end, intangible, B2B businesses), I’ve noticed very curious things:

  • Learning and development organizations want to see precise, detailed performance metrics in their sales training programs, and they request evidence of such metrics from vendors’ past client engagements.
  • Those same companies do not themselves have such metrics for past training programs – and they balk at the opportunity to create them when offered.
  • Those companies feel guilty about this disparity.

They shouldn’t feel guilty. There’s a reason none of them actually produces the metrics they claim to want—because the metrics they want are the wrong metrics. Furthermore, the act of measuring them is harmful.

Companies for the most part end up doing the right thing despite their “best thinking.” Like Huckleberry Finn, who felt himself a sinner for having helped the slave Jim escape to freedom, learning and development departments are not sinners at all—they’re actually doing the right thing.

In this article, I’d like to congratulate them for their “failure” and point out an alternative to the wrong thinking they’ve been holding themselves accountable to.

The Heisenberg Principle of Training

In physics, the Heisenberg Principle says that at the sub-atomic level, the act of measuring either mass or velocity actually changes either the velocity or the mass. In other words, measuring affects measurement.

What’s true at the micro-level in physics is true at the higher-order level in business training—the training of skills in areas such as engagement, vulnerability, listening, trust, empathy, or constructive confrontation. In those areas, the act of measurement affects the thing being measured. That effect can be positive or negative.

It does matter that you measure. What also matters, however, is what you measure and how you measure it – and we think wrongly about each.

It goes wrong when we approach these higher-level human functions as if they were lower-level behavioral skills. We apply the same mindset to them that we successfully apply to learning a golf swing, developing a spreadsheet, or creating a daily exercise habit.

These higher-level arenas evaporate when we subject them to the relentless behavioral decomposition appropriate for lower-level skills. Consider an example:

You declare to your spouse your commitment to improving your marriage. Your spouse is happy to hear of this decision until, that is, you declare that “obviously” you need a baseline and a set of metrics to regularly track your improvement. Still, your spouse is a team player and grudgingly agrees to go along. You jointly assign a 79.0 basis (on a 100 scale) for your baseline quality of marriage.

All goes well the first week: you are mindful of taking out the garbage, looking away from your email when your spouse speaks to you, and asking “how are you?” at least once a day—until measurement time. You then ask your spouse to rate your progress at the end of week 1: “Do you think I’ve moved the needle from 79.0? Maybe up into the 80s, huh?”

At this point, your spouse declares the experiment over, suggesting that you don’t “get” the whole concept. Oops. And by the way, you just slipped below 79.

What went wrong? On one level, it trivializes marriage to describe it solely in terms of behavioral tics like taking the garbage out, even though in the long run there is clearly a correlation. Further, focusing on taking the garbage out suggests it’s a cause rather than an effect. Finally, the frequency of focus on such things forces attention away from the true causes and drivers—a mindful attitude.

And on a deeper level, treating measurement this way confuses ends and means. A good marriage should be rewarding on its own terms. The overlay of a report card raises ugly questions: From whom are you seeking approval? And approval of what? Why, after all, are you doing this in the first place? What does “success” at the scorecard add to success in the marriage?

Gamification, so useful in more plebeian aspects of life, is trivializing, even insulting, when applied to the game of life.

Want proof? Ask your spouse.

Errors in Training Measurement

Such measurement is also trivial when applied to higher-level sales training. It’s true that to be successfully trusted as a salesperson, you need to do a great job of listening, empathizing, telling the truth, collaborating, and focusing on client needs. And if you do all of those things, you will sell more.

But the higher sales come about because you focus on the relationship.  The sale should be a byproduct of a relationship – not the purpose or goal in itself, with the relationship solely a means to the sale. Focusing solely on the byproducts sends exactly the wrong message.

There are two errors you can make:

  • Measuring those improved sales every week (or very frequently). Doing so proves to everyone that you really don’t care about all of that empathy and trust stuff except insofar as it improves sales. Which means you’re a hypocrite. Which means they won’t trust you and won’t buy from you. Hello Heisenberg.
  • Measuring the constituent behaviors. If you break down “empathy” into various behaviors (looks deeply into client’s eyes, pauses 0.4 seconds before answering questions, uses phrases like ‘that’s got to be difficult’ at least once per paragraph, etc.), it proves to everyone that you don’t “get” empathy. You are just a mimic, and not a terribly good one at that. Which means they won’t trust you, and won’t buy from you. Hello Heisenberg, again.

Using Measurement Positively

Up until now I’ve been negative about the ways measurement is used—actually, the way we talk about it being used—because in fact, our better instincts take over and we don’t actually do these things often. But there are positive ways to measure. There are three principles:

  1. Pick long-term, big picture metrics. The best one for sales training is, of course, revenue—but measured over time. The right timeframe varies with the business, but less than quarterly is too much.

Other things you could measure—and there shouldn’t be too many—include account penetration, share of wallet, or cost of sales. Again, these should be looked at as trailing indicators of performance, avoiding any suggestion that they are short-term causal drivers to be tweaked. You don’t cause mindsets like trust by practicing tiny behaviors; you cause tiny behaviors by focusing on mindsets like trust.

  1. Substitute discussion for reports. If your only reason for metrics is to “manage” them, then everyone will intuit your bad faith—that you don’t really care about empathy, you care about winning the battle for being empathetic as soon and as profitably as possible, and you will ding anyone for not being empathetic.

Instead, have irregular but frequent open-ended discussions about the numbers. There’s nothing wrong with discussing listening techniques or examining pipeline status. Doing so is how we get better and should be the purpose of sales coaching. But by discussing rather than “reporting” and “evaluating,” you show that your purpose is indeed on the end game (engagement, trust, etc.) and not on scorecards.

  1. Publicize discussions as motivation, not metrics. If someone has a breakthrough in listening, use the process to celebrate and educate the organization. (Look at what Joe did, and how he did it!) This is using Heisenberg in a positive way—to publicize insights and to encourage.

The alternative—defining smaller and smaller behavioral details—whether you publicize it or not, sends the message that salespeople are being evaluated, not coached. It also says that the metrics matter, not the end purpose they’re intended to serve.

Learning and development people: stop thinking you need detailed behavioral metrics. Give yourself a break, give your vendors a break, and give your salespeople a break. Coach your staff, demand principled behavior from them, and hold them accountable. Don’t track them minutely and with an hourglass. Coach on details to get better, measure end results to show it’s all working, and communicate what’s important.

In Complex Sales, Time Is on Your Side

/8 Comments/in , , /by

What’s the relationship of time to sales?

Should we worry that “time’s a wasting?” Or pay more heed to “all good things in due time?”  It sounds like a trivial question, but it’s got some far-reaching implications.

In late 1964, an English group calling themselves The Rolling Stones got their first U.S. Top 10 record with a song called “Time Is On My Side.” It was a cover version of a song previously recorded by Irma Thomas, among others. The lyrics loosely proclaimed that “you’ll come running back” because “I’ll always be around,” and therefore “time is on my side.”

The Stones, it turns out, were talking about selling professional services – and more broadly, about consultative selling in general.

If you’re relatively new to business development (the preferred euphemism in services for selling), you’ve probably read several books or articles, seeking wisdom on how to better sell. And if you’re an old hand at selling (and have no time for euphemisms), you’ve probably read even more of the same.

Nearly all of those books and articles make one key assumption. It is an assumption so basic, so simple, that we don’t even notice it. It is baked into the studies, the definitions, and the very language we use to describe selling. And yet that one assumption is so profound that it affects nearly every aspect of how we approach selling.

It is the assumption that a sale is a transaction. It is a discrete event. It happens (or in any case is closed) at a point in time. It is singular. The plural of “sale” is a series of “sales,” where the whole is equal to the sum of the parts. Sales happen one at a time. And time, generally, is not on your side.

Sales as Events

Consider the implications of that viewpoint. It suggests that a sale is an event with a beginning and an end. It suggests that we can understand sales patterns by averaging the sales events. It suggests that someone who is good at selling is good at making transactions happen. And it suggests that processes for managing sales will track these events through a sales process, attaching probabilities and sizes to each sale as the leads pass through the process.

That’s pretty much every modern-day CRM program, most sales metrics and sales management processes. The defining characteristic of those systems is that they’re built around discrete, separate events. In fact, we’ve talked ourselves into a mode of thinking such that we can’t conceive of managing sales without conjuring up behavioral, trackable events. If you can’t list an action and put a date on it – it doesn’t exist.

The sale event begins with a lead event, an initial contact. It proceeds through various exchanges of questions and answers. At some point there is a more or less formal proposal made by the seller. The end of the event comes when the proposal is either accepted, rejected, or ignored. At that point, the event is considered “closed.” The buying company, unit, or person may show up again, and they may go on a contact list. But when they show up again as a buyer, the seller will consider it a separate event.

When we think of sales as events, time is generally not on your side. Time is money. Time is the denominator in measures of efficiency. Time is what’s a-wasting when you’re spending your time unproductively, i.e. not selling. Time is the unit that determines your bonus, and it is what your manager is talking about when he says, “What have you done for me lately?”

Viewed that way, the world of sales is a series of discrete events. To borrow a metaphor from subatomic physics, the modern view of sales sees sales particles, not waves.

And yet—as in physics—we don’t have a complete understanding of things unless we view things from the “wave” perspective, as well as the particle perspective.

Sales as Patterns

Sales as events may sound blindingly obvious, but consider an alternative. What if a sale didn’t describe a discrete event, but a pattern of events, or a state of relationship, or a condition? What if a sale happened over time, with no particular event being more significant than others? What if a sale were about a relationship, not a transaction? What if it were an adjective, not just a noun or a verb?

We would view selling not as about executing isolated, separate transactions, but as relationships.

We would talk mainly about the quality of the relationship with a customer. Individual sales transactions would be seen as indicators of relationship success, not as the sole driving purpose.
Relationships and transactions would trade places as ends and means. CRM systems would actually measure relationships, not just transactions, thus finally living up to their name. Sales managers would coach people on furthering customer relationships, not on check-boxing behavioral events and driving transactions through the customer organization.

Is Time On Your Side?

A critical difference between the transactional and the relationship view of sales is the role of time. Transactions happen at points in time; relationships wax and wane over time. How you spend your time varies:

  • If you view sales as transactional, then you’ll want to maximize transactions over time and view relationships as a means to that end.
  • If you view sales as relational, then you’ll want to maximize relationships over time and trust that transactions will come about as a byproduct.

Note: in the long run, the metrics converge. The longer the timeframe, the more relevant is aggregate dollar sales. The critical question is this: do you maximize long-term sales by focusing on short-term transactions, or by focusing on long-term relationships?

For some businesses, long-term revenue pretty much equals the sum of the short-term results. Possible examples are convenience stores, Wall Street trading businesses, and online ad revenue. Here the transactional view of sales works just fine.

But for many other businesses – especially professional and intangible services, and complex and high-ticket B2B sales – the reverse is true. You don’t succeed by micro-focusing on transactions, by relentlessly improving efficiency, or by scrimping on time.

Instead, you succeed by focusing on the qualitative – by improving relationships, by nurturing the conditions that lead to repeat business, loyalty, deep customer knowledge and intimacy. In the not-very-long run, that focus actually produces better results than focusing on the transactional.

The Stones were right: time is (largely) on your side. If you are prepared to be consistent, trustworthy, focused on the greater good of your client, and not blinded by the shiny object of the Next Transaction, time becomes your friend. Your customers will indeed come running back—at least as many and as often to make it a superior sales strategy.

Are You Worthy of Your Client’s Trust?

/7 Comments/in , , /by

Have you ever stopped and asked yourself if you’re worthy of your client’s trust? It’s a big question, but one with an interesting twist.

It seems that trust, especially a client’s trust in us, is something that we too often take for granted. Just because a client signs on board with us – shouldn’t mark the end of building upon a trusted relationship. In fact, it should be just the beginning. Let’s dig in a bit further.

——–

Most salespeople will agree – there is no stronger sales driver than a client’s trust in the salesperson. Further, the most successful route to being trusted is to be trustworthy – worthy of trust. Faking trust is not easy – and the consequences of failing at it are large.

But is it possible to know if your client does trust you? Is there one predictor of client trust? Is there a single factor that amounts to an acid test of trust in selling?

I think there is. It’s contained in one single question. A “yes” answer will strongly suggest your clients trust you. A “no” answer will virtually guarantee they don’t.

The Acid Test Of Trust In Selling

The question to you is this:

Have you ever recommended a competitor to one of your better clients?

If the answer is “yes” – subject to the caveats below – then you have demonstrably put your client’s short-term interests ahead of your own. Assuming you sincerely did so, this indicates low self-orientation and a long-term perspective on your part, and is a good indicator of trustworthiness.

If you have never, ever, recommended a competitor to a good client, then either your service is always better than the competition for every client in every situation (puh-leeze), or, far more likely, you always shade your answers to suit your own advantage; which says you always put your interests ahead of your clients’; which says, frankly, you can’t be trusted.

Here are the caveats. Don’t count “yes” answers if:

  1. The client was trivially important to you;
  2. You were going to lose the client anyway;
  3. You don’t have a viable service offering in the category;
  4. You figured the competitor’s offering was terrible and you’d deep-six them by recommending them.

The only fair “yes” answer is one in which you honestly felt that an important client would be better served in an important case by going with a competitor’s offering.

If that describes what you did, and it is a fair reflection of how you think about client relationships in general, then I suspect your clients trust you.

This is the “acid test” of trust in selling. To understand why it’s so powerful, let’s consider the factors of trust.

Why This Is The Acid Test

My co-authors and I suggested in The Trusted Advisor that trust has four components, and we arrayed them in the “trust equation.” More precisely, it is an equation for trustworthiness, and it is written:

T = (C + R + I) / S
T = trustworthiness of the seller (as perceived by the buyer)
C = credibility
R = reliability
I = intimacy
S = self-orientation

Credibility is probably the most commonly thought-of trust component, but it is only one. Think of credibility and reliability as being the “rational” parts of trust. Believable, credentialed, dependable, having a track record – these are the traits we most consciously look for when screening vendors, doctors, and websites.

The third factor in the numerator – intimacy – is more emotional. It has to do with the sense of security we get in sharing information with someone. We say we “trust” someone when we open up to them, share parts of ourselves with them. We trust those to whom we entrust our secrets.

But all pale beside the power of the single factor in the denominator – self-orientation. If the seller – the one who would be trusted, who strives to be perceived as trustworthy – is perceived as being self-oriented, then we see him as someone who is in it for himself. And that’s the kiss of death for trust.

At its simplest, high self-orientation is selfishness; at its most complex, self-absorption. Neither gives the buyer a sense that the seller cares about any interests but his own.

Self-orientation speaks to motives. If one’s motives are suspect, then everything else is cast in a different light. What looked like credible credentials may be a forged resume and false testimonials. What looked like a reliable track record may be an assemblage of falsehoods. What looked like safe intimacy may be the tactics of a con man. Bad motives taint every other aspect of trust.

The acid test aims squarely at this issue of orientation. Whom are you serving? If the answer is, the client, then all is well. No client expects a professional to go out of business serving them — the need to make a good profit is easily accepted.

It’s when the need to run a profitable business is given primacy in every transaction, every quarter, and every sale, that clients call your motives into question. How can they trust someone who’s never willing to invest in the longer term, never willing to compromise, never willing to gracefully defer in the face of what is best for the client? They cannot, of course.

Passing the acid test suggests you know how to focus on relationships, not transactions; medium and long-term timeframes, not just short-term; and collaborative, not competitive, work patterns.

Flunking the acid test means clients doubt your motives. Whether you are selfish or self-obsessed makes little difference to them – the results are self-aggrandizing, not client-helpful.

The paradox is: in the long-run, self-focused behavior is less successful than is client-helpful behavior. Collaboration beats competition. Trust beats suspicion. Profits flow most not to those who crave them, but to those who accept them gracefully as an outcome of client service.

Don’t Be a Social Selling Lemming

/6 Comments/in , , /by

 

You probably have a social media presence. You might even call it a social media strategy. But is it really strategic? Or is it just a lemming strategy—making you look like a thousand other firms rushing headlong together toward a cliff? There’s a chance your social selling strategy may not be very strategic at all.

Let’s review a few basics about strategy, then come back to the question.

Competitive Strategy Must Differentiate You

First, a strategy that doesn’t distinguish you from competitors’ strategies is not a strategy at all. The whole point of a competitive strategy is to point out why you, in some important way, are different from your competitors.

This is why the pursuit of “best practices” is not only un-strategic, but it’s anti-strategic. The more you adopt everyone else’s best practices, the more you look like everyone else. A “me-too” strategy isn’t a strategy at all.

Economist Mike Porter suggested years ago there are only two kinds of strategies: being a low-cost producer or being a differentiated producer. Differentiation, in turn, can be along product or industry lines. That makes for three distinctive, differentiable strategies. If you are not following one of the three, then you are in danger of being un-strategic.

What does it mean to be un-strategic? It means you present no compelling reason for anyone to hire you—unless you’re willing to cut your price (an act that often lowers your perceived quality anyway).

The Social Media Lemming Strategy

As the popular myth has it, lemmings throw themselves en masse into the waters in a collective undifferentiated rush toward oblivion. Clearly that’s not a metaphor you want your social media strategy associated with.

But there are two huge forces that drive us all in that direction. One is the zero-marginal cost of volume on the Internet. The other is an obsession with metrics in social media.

Zero-marginal cost: As direct marketers found out to their glee when they discovered Internet marketing, the marginal cost of adding another name to your email list is infinitesimal. The result: spam.

The zero-marginal cost feature has likewise encouraged people to build massive databases, expanded Twitter lists, turned “friend” into a verb, and so on. It all costs nothing. If X is good, then X + whatever must be even better, so why not go for it?

Obsession with metrics: The zero-marginal cost factor is a feature of Internet economics. By contrast, the obsession with metrics is a purely human creation. Encouraged by a tsunami of data supply and a desire to appear scientific on the part of dozens of management gurus, the field of business has been overwhelmed by a tendency to mistake a measurement for the thing that is being measured.

This mistake—basically confusing cause and effect—is evident in the ever-finer increments of activity to be found in CRM systems. It’s embedded in the formulaic insistence of learning and development managers that all training must be evidentially behavioral to be relevant. But nowhere has it become more endemic than in the field of social media.

Think Klout: a metric of metrics. Think Twitter: how many followers you have and how many people you follow. Think LinkedIn: how many “contacts” you have. Think about the incredibly complex mix of analytics put out by Google and a thousand website traffic consultants. All are aimed at improving your metrics. And what do they measure? Basically, more metrics. The ultimate substrate of reality (revenue, anyone?) is sorely missing.

Four Anti-Strategic Social Strategies

  1. Promoting the Same Content: Consider one social media “strategy,” exemplified by Triberr but also evident in LinkedIn groups. Join a group, and the agreement is “we’ll all promote each other,” thereby driving up everyone’s numbers. Does the metric work? Sure, it works to drive up metrics. The cost, however, is strategic.

If you and 25 others all agree to auto-tweet everyone else’s blog post, you then have 25 people all tweeting the same content. Their twitter behavior becomes asymptotically identical to each other. The result: mass un-differentiation.

  1. Pumping Up the Numbers: Another social media “strategy” is to simply increase your number of followers. The direct approach is to announce to the world that “I follow.” Thus, any lemming-like-minded twitterer who follows you can automatically expect you to return “the favor,” thereby increasing each of your numbers.

Do the numbers work? Sure. They work to increase your numbers. Eventually, high numbers will get you onto lists—lists like “Top 50 sales bloggers” or similar. Finally, at that point, differences become grossly evident. There really are some true sales experts. And, there are others who got there solely on social media grade inflation. The difference becomes stark. In the sunlight, quality is evident.

  1. No-Value Content: Another social media “strategy” is a perversion of “content marketing.” Originally (and still, for some people), this meant offering high-quality content in an accessible way to help potential customers develop their thinking. But it rapidly succumbed to the “obsession with metrics” rule.

Today, I get at least one invitation a day from fly-by-night auto-emailing outfits asking if they can write “content” for my site or to embed a link in a post I might make available to them. In any real sense of the word, there is no “content” there.

  1. The Aggregation Delusion: Mimicking news sites, this delusion consists of writing zero-insight-added blog posts that have titles that begin with “Top 12 reasons why…” They amount to little more than clickbait, since they consist of regurgitated, even directly plagiarized, content from elsewhere. The purpose is to drive clicks and traffic so that the blogger can show up on lists of clicks and traffic. Again, there comes a point in the actual buying process where buyers easily note the difference between vapor-ware and real content.

Don’t Be a Lemming

When you set out to compete on volume alone, you’re up against some seriously tough competition. There is room for only one low-cost producer in any market, and it’s traditionally the one with the highest volume. In an Internet world of zero-marginal cost and a lemming-like belief that more metrics are better, there is no shortage of people willing to bankrupt you by leading the way to bankruptcy. Don’t go there unless you have deeper pockets than anyone else.

Competing on differentiation is inherently more attractive. But a lemming strategy is equally seductive here: just because you can “move the needle” doesn’t mean the needle is connected to anything real. It’s easy to get lost in the supposedly quantitative world of social media metrics and forget that there’s not necessarily any “there” there.

Ask yourself the tough strategic question: Why, really, am I different? And the equally tough follow-up question: How would a customer be able to really notice and appreciate that difference?

If you’re not seriously asking yourself those questions, why should anyone believe your answers? They may click, but they won’t buy.

Selling from Inside Your Client’s Shoes: Part 2, Execution

/1 Comment/in , , /by

I recently wrote about Selling from Inside Your Client’s Shoes. 

The gist of it was to drill-down into the interior dialogues that we all engage in at the outset of a sales  conversation. (The subject is related to what famed sociologist Erving Goffman explored in the 20th century – we are all actors on varying stages). 

I suggested that much trust creation in sales happens precisely in the opening, small-talk interactions – “small-talk” really isn’t small.  Done right, we can break through our parallel internal rituals and make a trust connection.  Trust in sales is as much about courage and intimacy as it is about preparation and credibility.

But How Do You Do It?

One reader (thanks Rich) said he totally bought the analysis, but took me to task for leaving out the good part – namely how you do this connection thing. How do you make small-talk Big, and truly connect to the feeling of being in the other’s shoes? 

Fair enough. Here we go.

The problem is that we (both our client and ourselves) are acting out pre-rehearsed, pre-scripted dialogues. There may be some room for improvisation, but not much. 

And when we all operate on auto-pilot, everyone’s interior dialogues continue as well, even taking on greater importance (“when’s he going to be done?” “huh just as I suspected,” “gotta pick up milk on the way home” ).

Why We Destroy Real-Talk

What causes this navel-gazing in place? Ironically, it’s a direct result of planning and rehearsing.  That sales program you’ve been taking?  The one that tells you how to set objectives for the meeting, how to articulate your value proposition, and how to handle objections?  That sales program is not the solution (in this instance), it is the problem! 

If all your interactions are “successfully” scripted in advance, do not pat yourself on the back for good planning.  Instead, kick yourself for having turned a potential human interaction into a bloodless, robotic performance.  

Think about it: If a successful sales call can be programmed in advance according to if-then clauses and do-loops, then why not just send in Robo-Seller? Better yet, email it.  

Borrowing from Pogo, we have met the enemy, and it is us. Sales planning and sales training all conspire to render us impersonal, unconnected, and unable to be effective at creating trust. 

The spell needs breaking. The inner dialogue, on each side of the table, has to be exploded and exposed to the bright light of connection. And it has to start with us, the seller. 

How to Break the Spell

The enemy is planning. The cure is spontaneity. You can’t be “real” if you’re not reacting in the moment. 

And the time to ‘get real’ is right at the outset. Make the small talk real. Let the client know that you are showing up in person, right from the outset, fully present and ready to interact. 

Meaning – improvise. React. Be in the moment. Comment, observe, be curious – about something that occurred to you no earlier than 60 seconds ago. 

Yes, I’m serious. Do not script your opening lines. In fact, don’t even think about them. 

I can hear you – “Whoah, that is risky!”

Yes, it is – and that’s the whole point. Think about the message that taking a risk sends. It says:

  • I’m confident in myself, enough to be at ease and relaxed
  • I’m aware of my surroundings
  • I’m paying attention to and focused on the person I’m talking to 
  • I came to bring value by interacting, not by playing a pre-recorded tape.

And if you make a “mistake?” First of all, making a mistake proves you took a risk, which is the whole point. Secondly, the frequency of making ‘mistakes’ is vastly overrated (really, how likely are you to say, “Who’s that ugly girl in the photo? Oops, that’s your daughter?”)

Prepping for Improv

There’s a reason improv comedians are being hired more and more by consultative organizations – what they teach is what we need in this situation. Here are a few tips.

  1. Don’t over-rehearse
  2. 10 minutes before the meeting, go clear your head. Take a walk; breathe deeply; meditate if you’re into it (count to a thousand if you’re not); notice what your senses are telling you (taste? smell? touch? sound? colors?)
  3. In the waiting room – notice stuff without judgment. What magazines are there? Is it cold? How old is this building? Chat up the receptionist about the weather, or how long they’ve been there with the organization.
  4. When you meet your prospect – focus on them. Pay attention to their voice, their pace, their emotional state. Make yourself wonder what’s going on with them?
  5. Say something. Better yet, ask something. Better still, make an observation and ask something.

At the risk of appearing to give instructions, here are some examples of what you might end up saying. These are only examples: you’re not allowed to use any of them :-).

  • Do you folks get fresh flowers in here every day?  Must be nice.
  • Driving in from the City, what a nice commute that must be every day – is that how you come in?
  • Your receptionist tells me you just moved in to this location last month – do you feel settled in yet? 
  • I’m picking up a sense here that you’re really busy today – anything special going on? Do we need to revisit our time contract?
  • Is that really a Rolls Royce I saw in the front parking lot? What’s the story behind that?
  • I confess, I thought the operation here would be somewhat smaller – then I walk in and I see you’ve got four whole floors here. 

The way you get inside your client’s shoes is to get out of your own. That in turn encourages the client to be present with you. When you do that, the ‘small talk’ actually becomes real. It becomes less a mechanical ‘business-only’ interaction, and a more personal one. 

After all – if you’re really interested in a potential relationship with someone, wouldn’t you want to be real with them from the start?

Credibility, Trust and Ignorance

/7 Comments/in , /by

Being right is vastly overrated.

Now, that doesn’t mean that lying is a good strategy. What it does mean is that in the business world, we all too easily conflate trust with credibility, and credibility with expertise.

You don’t have to look too far to find big-name sales trainers and gurus who insist that it is expertise and insights that drive sales success and trust.

I first heard this mantra back in the 70s (and if I were older, I’m sure I’d know of earlier instances).

Well, here’s some truth. People don’t trust you just because you’re smart. And they definitely don’t trust you because you’re a smart-aleck.

In fact, smart is not even a necessary condition for trust – much less a sufficient condition. Further, the role of expertise and insight doesn’t come temporally first in selling – it plays a role in marketing, and then later a role nearer the middle of the sales process.

Credibility, insight, expertise, smarts – all these things do have a role. It’s just not what you may think.

Let me explain a bit further…

——

I long ago attended a sales call with my boss. When asked by the client, “What experience do you have doing this [narrowly defined] kind of work?” he shocked me by saying, “None that I can think of; what else would be useful for us to talk about?”

How is it that we come to influence other people’s ideas? How do we more effectively get others to take our advice? How do we sell more successfully?

The overwhelming answer in the corporate world seems to be, “By getting people to see that we have the right insights and answers.” But that response is very often wrong.

“Being right” turns out to be vastly overrated. Sometimes, even an admission of ignorance is actually a better strategy.

Misconceptions About Trust – How to Gain Credibility

Most of us think something along these lines: “They’ll take my advice (or buy from me, or be persuaded by me) if they think I’m credible. They’ll think I’m credible if I look smart, have great ideas, and have experience. Therefore I’ll tell them about myself, my bright ideas, and my track record at being smart.”

Clients contribute to this subornation by asking us to talk about precisely that (not because they care about the answer, but because they just don’t know what else to ask and don’t want to take the risk of looking foolish themselves).

But credibility isn’t the only element driving trust. And experience and smarts aren’t the only ways to get credibility. Think of the arrogance implicit in saying “let me tell you why I’m the best” before the customer feels you even know their situation. (This is a description of 98 out of 100 cold call emails you get from email “marketers”).

For example, consider humility. Being willing to acknowledge obvious ignorance creates rather than destroys credibility.  The ability to say, as my boss did, “I don’t know,” is an astonishing comment. It communicates ignorance, yes – but it also communicates radical honesty (who is about to doubt an admission of ignorance!).

  • It communicates a sense of self-confidence (“I am secure enough in my worth and my value to admit exactly what I do and don’t know”).
  • It communicates a clear customer-focus – it says, “You asked a good question, and you deserve a straight, no-spin-control answer. Here it is.”
  • It communicates a focus on the long-term – it says, “If this particular piece of knowledge is key, then I may not win this job; but by being always transparent about what I do know, clients will always know they can trust what I say.”

By contrast, leading with smarts alone just says, “I am a database with a protein user interface.”

The Role of Truth

The point is not to adopt a profession of ignorance as a tactic. Nor is it to pursue ignorance as policy. It’s to tell the truth. Your credibility is not just a function of expertise: it’s a result of a complex set of calculations made by someone when they decide whether to believe and trust you when you say something.

Even if people believe you—credibility—that isn’t enough to get you trusted. They must also trust your motives, your understanding of their situation, and your ability to empathize—as they see it.

True credibility comes from letting people see you as you are—not as you would wish they would see you. Transparency trumps expertise. The more you insist on how much you know, the less we believe you: “the lady doth protest too much.” The more willing you are to honestly admit your limitations, the more we believe you. It’s a paradox thing.

No one expects an advisor or salesperson to be perfect—we just want to know where their biases or blind spots lie, whether they know their own biases – and whether they’re capable of admitting them.

That way we can make up our own minds about how much to trust them.

Letting our clients make that decision is, itself, a driver of trust.

Selling from Inside Your Client’s Shoes

/3 Comments/in , , /by

You know the phrase, “Walk a mile in someone else’s shoes.” It’s short for empathy, understanding the Other so well you can intuit what it feels like to take a long walk—wearing their footwear, no less.

Let’s adapt that idea to selling. What if you could understand your client so well that you could intuit how it feels to be sitting in their seat in a sales meeting, sensing every nuance along the way?

Shall we give it a try?

Sales Meeting Time T-minus-10

It’s 10 minutes before meeting time. You arrive early, and the receptionist ushers you into the conference room and offers you coffee. You nervously drum your fingers on the laptop you brought to introduce yourself and your firm to Claudio and Taciana. They are CEO and COO, respectively, of the relatively new marketing automation firm C3PX. You spoke by phone with Taciana to set up this meeting. You’re optimistic, marshaling your nervous energy as you mentally rehearse your key points for the nth time.

Claudio. Meanwhile, Claudio wonders if he has time to call his 19-year-old daughter at college. Actually, whether to call her at all. Things are not well between the two of them—they haven’t been since he and his wife divorced last year. Teenage girls can be so—difficult. And it seemed like she so often took sides with her mother.

Meanwhile, C3PX is doing well—sometimes too well. Claudio just signed another line of credit extension. The good news was the firm’s credit was good. The bad news is he wants to pay down some debt, but there was always a need to invest in some new software or process. The meeting in 10 minutes may be another example—a necessary expense, but not welcome in terms of cash flow.

Claudio hopes Taciana can take the lead on this. He’s been leaning a lot on her lately. Is he holding up his end of the bargain? Or is it welcome to her—a chance to grow into the business? But what if she’s growing too fast and taking over some of Claudio’s roles as CEO?

Taciana. Taciana is running late. She’s just finished a meeting with HR, and she is concerned the experienced hire recruiting program is short of target. She wonders if she’ll need to postpone the ops team call this afternoon until tomorrow, though she did that last week as well. Is she getting a little overloaded? Does it show?

Taciana has mixed feelings about this meeting. On one hand, she genuinely liked the phone call she had with you. She felt you sounded sharp, competent, and confident. But she can’t help worrying about your service offering.

Does C3PX really need your kind of service at this point in its growth? You offer some great services, but with them comes another level of complexity. Are the benefits worth it? Should they get along for another 12 to 18 months? What if some new technology comes along and leap-frogs your offering?

Also, is this going to be yet another Taciana-solo project? “Sure, I’m the COO,” she thinks, “but that doesn’t mean I have to do everything. Am I leveraged enough? Will Claudio think I’m empire-building if I try to delegate? But if I don’t, how am I going to get time to spend with my husband? We’ve been trying to get more time together; he has a demanding job, too. I hope Claudio takes the lead in this meeting.”

Sales Meeting Time T = 0

It’s time. You take a last look at your phone just as the door opens. In walk Claudio and Taciana.

You all smile and shake hands, then pass out business cards. You each reject offers of more coffee and strategically settle into your chairs, all the while smiling and uttering meaningless phrases in non-committal tones.

The meeting commences.

Like all meetings, it commences on multiple levels. There is the overt agenda to be discussed. There are first impressions, flooding each of you as you quickly take into account the others’ appearance, sound, bearing, and manner. Are you who they expected? What’s different? What does that mean?

And are they who you expected? What did you misjudge? What did you get right? Can you afford to focus on that and pay attention to what’s being said? Do they seem a little rushed? What does that mean? Are they going to sit through your deck, or should you skip it? When should you bring up price?

You can ask them to tell you a bit about their situation, but you can’t do too much of that. These days no one has time for someone who hasn’t done their homework. Yet neither can you waste time proving you’ve done your homework. What does it mean that they placed their iPhone next to them? And so on.

Behind the Scenes

The internal dialogue is endless—and that’s just yours! What about the dialogue inside Taciana’s and Claudio’s heads? How important is this inner cacophony? And what should you do about it? Ignore it? Address it? If you choose to address it, how do you do it?

The truth is those internal dialogues are not trivial. They are important. You need to address them. Most of all this is a great opportunity cleverly disguised as an awkward social moment. You can dramatically affect the whole sale, and the whole relationship, by how you conduct yourself in the first few minutes regarding these internal dialogues.

Small Talk Isn’t Small

The idle chit-chat we engage in is a potent social ritual. The point is not to find out that you both went to Ohio State or love basketball or have kids. Those are proxies.

The real issue at stake is whether they can trust you—in a very specific sense of that word. It’s what we call “intimacy” in the trust equation. Do they feel safe being who they are in your presence? Do you laugh at the right moments—with the right kind of laugh? Do you wince at the right statements—like when Taciana mentions meeting overload? When they say, “Tell us about yourself,” do you remember that mostly they’re just being nice and then turn the conversation to them?

Do you have the emotional courage to raise your eyebrows when Claudio says, “Teenagers—am I right?” and invite further comment should he choose to go there? When one of them raises price concerns, do you respond with curiosity and say, “Tell me what’s behind that concern?” Or do you reply with a canned defense of your value-for-price? Do you have the nerve to say, “I’m sensing a little bit of stress from each of you. Is this decision a source of concern to you?”

This isn’t about your value proposition. It isn’t about proposing challenging questions or asserting your qualifications. But it’s critical. The buyer/seller interaction is many things, but it’s first and foremost human. First impressions matter, and not just about clothes and looks.

What buyers want is to feel at ease, trusting, and confident they can be authentically themselves with you and not have to look over their shoulders when dealing with you.

Buyers make up their mind about this subconsciously, and they do it very quickly. Trust in this sense doesn’t take time; it takes courage, connection, and empathy. Don’t be afraid to let your guard down. Doing so shows others that can do the same with you from the get-go.

This article first appeared on RainToday.

Read Part Two of this post, here.