Trust Centered Selling

The Red Rock Hotel and Resort

Mark will be the keynote speaker for the NVTC.

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Tyson’s Corner, VA

The Carnival of Trust is a monthly blog carnival created by Charlie Green, co-author with David Maister and Robert Galford of The Trusted Advisor, which focuses on the topic of building

valued relationships with clients and the author of Trust-Based Selling, which is about the role of trust in sales.

Congratulations to the winners of this month’s Carnival of Trust. The topics ranged from the role of trust in medical malpractice cases to the role trust plays in profitability. The wide range of perspectives illustrates just how many ways trust shapes our world. I’d love to hear your comments!

Seth Godin, author of a number of bestselling books including Permission Marketing, weighs in on the Hillary brand in his blog Sunk costs, quitting and the value of your brand. He uses one of the core concepts MBA’s learn in business school to apply to Clinton’s current bid for the Whitehouse. Godin’s main point… pushing through The Dip (also the title of his newest book) is important, however, he warns you’re better off quitting than mutilating your brand into something you’re not. Another Godin gem.

Eric Turkewitz gives us insight into the catalysts of that first phone call to the medical malpractice attorney in Patients Call Lawyers. He cites four reasons why people take it to the next level – 1. An unexpected result and a betrayal of trust; 2. The hospital rumor mill.; 3. Money, money, money.; 4. Outrage. Eric points out doctors are urged by some to apologize for their errors…an interesting conversation in and of itself.

Cormick Grimshaw highlights the misconception that capitalism and character can’t go hand-in-hand in his blog Character and Capitalism. He uses the landscape of the banking industry to demonstrate the false sense of effectiveness we might perceive from scale and systems. He pulls away the façade that unveils a mirage of efficiency used by commercial banks in direct contrast with the personal approach most local and regional banks use. He says, “Yes, it costs you a lot more to source the loan. But they (local lenders) probably make it up in lower loan losses (a combination of lower default and more success with loss mitigation, since if you know the borrower, he will probably feel a greater obligation to repay.” Cormick’s other examples of how character and capitalism can work together are no less illucidating.

In his blog, Trust Isn’t Transitive (or, “Someone fired a gun in an airplane cockpit, and it was probably the pilot”) Peter Biddle takes us up 30,000 feet in the cockpit of a jumbo jet. He “fires” home the point that just because we trust someone as an expert (a pilot) in this story, we don’t necessarily transfer that trust “carte blanche” for everything (like his ability to handle a firearm), nor should we. Climb aboard for a very sobering “what if” lesson on trust.

Ginger Marks offers some useful advice for business owners in her blog Sales vs. Expertise. She describes the importance of long-run thinking, “pushy salespeople may get the sale but being an information provider will guarantee a long and prosperous business success.” Right on Ginger! Recently a Dunkin Donuts opened near my home and posted a sign, “Free Medium Coffee (No Purchase Necessary)”. The Donuts shop offered a free medium coffee and attracted new customers while building their loyalty with a minimal investment. The point that Ginger makes about offering advice for free in the form of consultations to customers/clients can make for the kind of enduring relationships that makes for a strong foundation. Ginger offers some other useful tips for emerging business owners in a competitive world.

Graham Brown makes a powerful case that trust is tangible, real and not just a soft skill. In The 10 Changes a CEO needs to make to win young consumers – #10 Focus on Trust not Technology Graham says, “when brands have trust, communication is fast, productive and consumers forgiving of their mistakes.” He notes that trust has a direct impact on profitability, particularly among young consumers. Learn why Starbucks, Red Bull, Scion, Jet Blue, Apple, Krispy Kreme and Nike have “trust” with young people and why the GAP, Wal-Mart, and Vodafone do not. “Trustworthiness” he says, “in youth brands is not dissimilar from trust between individuals and comes down to three tenets: honesty is the best policy, give before you receive and people don’t care that you know unless they know that you care. If I had to pick a favorite of a crowded field of worthy Carnival entrants this month, Graham would get the nod!

In his blog What to do if you screw up?, David Bohl helps us deal with the inevitable…our mistakes. Boy have I made my share and, yes, I would have benefited from David’s sage advice. My favorite of his six steps was number four, “take responsibility for your actions.” David says we should acknowledge, accept repair and move on. If you don’t mind David, I’d like to tack on two more from my humble experience as a mistake-maker: repent (seek forgiveness) and don’t repeat (all the other steps don’t mean much if we do). Just a thought! Read his blog and see if you agree with David.

Jim Logan brings to light the trap many marketers fall into when writing letters. In his blog The Ginsu Knife of Sales Letters, Jim warns copy writers of the tendency to model what he calls, “Ginsu Knife” sales letters. These take on the tone and rhythm of late night infomercials but are technically perfect. He pleads, it’s time the marketplace get on board with Direct Mail 2.0 and stop the insanely antiquated copyright techniques. Talk about trust busters! Great point Jim.

Steve Rubel calls into question the highly acclaimed Malcolm Gladwell theory outlined in The Tipping Point on the heels of Duncan Watts recent research that contricted Gladwell’s assumptions. “It all comes down to trust” according to Rubel in Trust in Peers Trumps the “A-List,” Study Finds. The Edelman Trust Barometer found earlier this year that well-known bloggers have less influence than real-world friends and family by a four-to-one margin. He says, “if marketers and researchers continue to focus on reach, they are missing the big picture.” The chart entitled, “Trust in Spokespeople” from the 2008 Edelman Trust Barometer reveals fascinating statistics about who we trust and to what degree. Steve’s article is short but loaded with insight!

Jeremy Neal makes us confront a sometimes uncomfortable truth, regardless of how hard we try, we can’t distance ourselves from the company we keep in Reputation Comes from the Company you Keep. He writes, “if your group of friends, associates, co-workers, affiliates and even family members are negatively perceived, then your reputation will be tarnished in the eyes of others. Is it fair? Absolutely not! It is reality though.” He cites Henry Kissinger’s musings, “90% of politicians give the other 10% a bad reputation” to illustrate the wide brush people paint when forming perceptions. It reminds me of the a ha moment I experienced when I first heard the phrase, “if you can’t change the people your hanging out with, change the people you’re hanging out with.”

I am honored to host this month’s Carnival of Trust for Charlie Green, the co-author of The Trusted Advisor and author of Trust-based Selling.

If you would like to submit an article on the topic of trust for possible inclusion in the Carnival, please follow this link:

http://blogcarnival.com/bc/submit_1693.html

You never know, you just may get selected!

What is it? The Carnival of Trust is a fascinating, monthly compendium of blog postings related to trust in business, trust in selling, trust in society at large. It is kept interesting by the vibrant commentary of our esteemed hosts, and by the challenge of a Top 10 criteria on submissions. If you don’t get selected, it’s no dis. But if you do get selected, it’s a tribute.

So bring out your best stuff, and share it with the world. After all, how’s the world going to get better if you hide those great insights from the rest of us?