The Trust Equation
Pankaj Chadha
Empowering Leaders to Drive Impactful Change | Strategic Leader | Sales & Business Development Expert | Developing High Performing Team
What comes to our mind when we speak about Trust ??
How do you know when someone Trusts you ?
How do know when you can Trust someone ?
Can we build Trust and how do we do it ?
We all can clearly differentiate between people we are surrounded with whom we can place our Trust and whom we are not that confident on…
Building Trust with Customers: A Salesperson’s Perspective
In sales, trust isn’t just a nice-to-have—it’s the cornerstone of success. Customers don’t just buy products or services; they buy confidence, reliability, and assurance. At the heart of this lies a simple truth: customers buy from salespeople they trust.
But trust isn’t built overnight. It’s a journey that requires consistent effort, authenticity, and a deep understanding of the customer’s needs.
?The Trust Equation
David H. Maister a former Harvard Business School professor, Charles H. Green and Robert M. Galford wrote a book called “ The Trusted Advisor” which outlines a very interesting concept of a Trust Equation.
Trust has two parts :? One who is Trying to Build Trust and other
When a person interacts with anyone and specifically with customers they are under constant evaluation. Customers are taking the risk to be trusting and Sales person has to prove his/her Trustworthiness.
The Trust Equation is a proven framework to cultivate Trustworthiness and what it means to be Trustworthy.
The Formula:
?
?Where:
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This refers to the salesperson’s expertise, knowledge, and ability to provide accurate and reliable information. Credibility is demonstrated through product mastery, factual communication, and professional demeanor.
Reliability is built through consistency, timely follow-ups, and fulfilling commitments without fail.
Both Credibility and Reliability are Rational form of Trustworthiness. They are objective in nature and we can easily measure and score them.
The next two components are different
A high score on intimacy means we feel safe sharing information and we are confident that the person will handle that information respectfully, appropriately and in that context. Intimacy explicitly addresses the connect of emotional Riskiness on both the Truster and Trustee. Intimacy is difficult to measure.
All the above three numerators in the equation raise the Trustworthiness of a person.
The denominator is Self-Orientation.
This equation highlights that building trust requires a balance of expertise, dependability, and emotional connection while keeping ego and self-interest in check.
As you reflect on your sales journey, ask yourself: Are my actions building trust or eroding it? By prioritizing trust in every interaction, you’re not just selling—you’re building partnerships that last a lifetime.
What steps are you taking to build trust with your customers? Let’s start a conversation!
Credits : "The Trusted Advisor" by Charles Greens, David Maister, Robert Galford
Our Coach :: Mohana Kotian for explaining this concept as a part of Culture Transformation Program
Head of Business Solutions and Verticals
2 个月Nice one Pankaj. Well articulated!
Enabling Global organisations in their Digital Journey | Vodafone Idea Young Leader | IIM Kozhikode
2 个月This is a powerful guide for building lasting relationships Pankaj ! In the jouney of becoming a trusted advisor from a Salesperson, the real challenge lies in managing self-orientation. If client/customer senses that one’s primary focus is on closing the deal rather than solving their problems, trust erodes. A successful salesperson prioritizes the client’s needs, offering solutions that align with their goals, not just the salesperson’s targets. By aligning one’s intent with the client’s best interests, one can transform from a seller into a trusted advisor ! Thanks for sharing this thought envoking article.
Advisor - Startups - Scale-up l Enterprise Global Digital Delivery Excellence l Digital Transformations -DT l Key Account Management l Product Management l Customer Success l Global Capability Centers. (GCCs)
2 个月Nicely put ?? Important salesmen performance metric ie Trust quotient (TQ) - Having 70 % are more likely to build strong, loyal customer relationships & win hearts of the customers.
Business & Executive Coaching, Corporate Trainer, ICF MCC, Behavioural Training, MBTI, FIRO-B, Learning & Development
2 个月Hi Pankaj, very well articulated ?? ??