1. Building Trust and Sales Ethics Module Two

2. Learning Objectives 1.Discuss the distinguishing characteristics of trust-based selling. 2.Explain the importance of trust. 3.Discuss how to earn trust.

3. Learning 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.

4. Key Thoughts Trust is crucial to developing successful relationships with customers.Trust is crucial to developing successful relationships with customers. Build trust by being competent, compatible, candid, customer-oriented, and dependable.Build trust by being competent, compatible, candid, customer-oriented, and dependable. You must have the initiative and motivation to learn about your company, your customers, and the markets in which you and they compete.You must have the initiative and motivation to learn about your company, your customers, and the markets in which you and they compete. Professional salespeople, by definition, must be ethical or they are not professional.Professional salespeople, by definition, must be ethical or they are not professional.

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

7. 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.

8. Customer Oriented Expertise Dependability Compatibility Candor Trust - Components

9. Trust Builder – Expertise 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 and resources to get the job done right. Expertise

10. Trust Builder – Dependability 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. Dependability

11. Trust Builder – Candor 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. Candor

12. Trust Builder – Customer Orientation 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. Customer Oriented

13. Trust Builder - Compatibility 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. Compatibility

14. Knowledge Bases IndustryIndustry CompanyCompany ProductProduct Price and PromotionPrice and Promotion ServiceService Market/CustomerMarket/Customer CompetitorCompetitor TechnologyTechnology

15. Industry Knowledge Objective: 1) develop and execute effective selling strategies, and 2) be viewed as a market information resource Objective: 1) develop and execute effective selling strategies, and 2) be viewed as a market information resource Knowledge Need: the dynamics, structure, culture, and forces that affect the industry or industries in which they work.

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

17. Product Knowledge Objective: be perceived (by the customer) as experts and capable of accurately matching solutions to the needs of the customer Objective: be perceived (by the customer) as experts and capable of accurately matching solutions to the needs of the customer Knowledge Need: a thorough understanding of their product offering(s) and various sources of value it (they) provide

18. Promotion and Price Knowledge Objective: 1) facilitate their customers’ participation in promotional programs and 2) effectively negotiate terms Objective: 1) facilitate their customers’ participation in promotional programs and 2) effectively negotiate terms Knowledge Need: understand the details of, and how to manage, promotional programs and the pricing structure of their products

19. Service Knowledge Objective: match their company’s service capabilities to the needs of their customers Objective: match their company’s service capabilities to the needs of their customers Knowledge Need: understand their company’s service capabilities (other than the core product) and the value they add

20. Market and Customer Knowledge Objective: 1) develop and implement effective selling strategies, and 2) clearly communicate relevant solutions Objective: 1) develop and implement effective selling strategies, and 2) clearly communicate relevant solutions Knowledge Needs: understand the markets they serve and their customers, including needs, personalities, and communication styles

21. Competitor Knowledge Objective: to position their products against those of their competitors’ Objective: to position their products against those of their competitors’ Knowledge Need: their competitors and respective market offers and how they are perceived in the market

22. Technology Knowledge Objective: to leverage technology to me more competitive... work smarter not harder Objective: to leverage technology to me more competitive... work smarter not harder Knowledge Need: understand how utilize sales technology hardware and software (e.g., internet, CRM, laptops, smart phones)

23. Clearly Wrong Clearly Right Ethical Decisions Ethics Ethics refers to right and wrong conduct of individuals and institutions of which they are a part. Ethical Dilemma

24. Image of Salespeople

25. Areas of Unethical Behavior ExaggerateWithholdDeceiveHustleScamBluff Deceptive Practices Misuse Company AssetsDefraudCon Illegal Activities Pushy Hard Sell Fast Talking High Pressure Non-Customer-Oriented Behavior