The B2B selling landscape has undergone significant shifts over the past decade, and none of those shifts has been more important than the mobility and accessibility of information via the web. Buyers have shifted considerably because of this access - they're now more educated, more prepared to fact-check, and more likely to reach out to their trusted network to help them make informed purchase decisions.
These shifts also mean that buyers are now more likely to connect with your sales organization further down the pipeline than before, and will often have somewhere between 75-90% of their decision process completed based on their research.
This obviously begs two questions:
- How can your salespeople influence the buyer during the 75% information gathering phase?
- How can your salespeople be more prepared to meet the modern buyer's expectations when they do engage?
The answer is simple: Trust.
In recent B2B buyer surveys, the recurring expectations of the modern buyer for the modern seller are 'value', 'credibility' and 'consistency' - all drivers of trust. The focus then must become finding a repeatable model of building and accelerating trust with modern buyers, which is scalable across the sales organization.
Enter the Trust Equation.
Trust can be accelerated at a speed reflective of the rate to which credibility, consistency and value can be established and continuously built. The faster a salesperson can build credibility, value, and trust, the faster the buyer will trust the seller.
Let's look at each component of the Trust Equation.
Credibility
Credibility comes from the perceived level of expertise the buyer has to offer the seller.
Their initial perception will be based on the quick analysis of the sellers' digital footprint (most likely Google Search or LinkedIn), along with early conversations. Executive buyers are going to ensure that no time is wasted attending a meeting which is a regurgitation of what they could have found online.
Proactive credibility building takes place when advanced social sellers seek to have the buyers know who they are, and establish credibility before the need to buy ever exists. These sellers will, for example, be present in the applicable LinkedIn Groups, on related Twitter hashtag discussions and in other online communities where the ideal buyers are researching or engaging.
Reactive credibility is equally important, and takes place when sellers demonstrate their credibility through building an online persona with examples of expertise and shaping what the buyer will find when they react to your content or initial engagement.
This means having a presence on major social networks and highlighting your expertise. Typical ways this is done could include having a professional LinkedIn profile which contains rich media, preferably of the seller's expertise via videos, presentations, etc. Ensuring third-party proof like recommendations are present, and having applicable publications or projects highlighted across your digital footprint is also key in accelerating trust and credibility.
Consistency
Consistency comes into play in a variety of different ways and questions the buyer is going to ask when researching who they're potentially engaging in a long-term relationship.
First, does the seller have a consistent profile and representation of themselves across the web and on social media? It's vital to build a consistent professional image online for your buyers to find, and ultimately measure up against other vendors.
Second, if they do have an online presence, how deep is the sellers' credibility, and are the samples of their proposed value in a format digestible to the buyer?
If you've published an article on your LinkedIn profile, consider creating a YouTube video or Slideshare presentation which summarizes your article or hypothesis. This approach can yield two-fold, in that the seller is planted expertise in a variety of digestible ways. It also helps the seller increase their digital footprint and online credibility with a consistent message.
Value
Value is one of the key ingredients in building trust and establishing credibility before, during and after the sales process, and it's the element which has the most potential impact within the Trust Equation.
Value has the greatest impact on both the level of trust and the speed to trust. When the buyer determines that a need or problem exists, they begin the process of self-educating themselves with credible sources to help them understand what they need to do. Once the buyer understands what they need, they'll begin the process of educating themselves on the available vendors, experts, and consultants who can help them.
The insights that help them understand their problem, the people who give credible advice, and the people who connect these dots are assessed within in the buyer's mind - the holy trinity for a sales person looking to accelerate trust would be to establish themselves as the leading value contributor in each (or as many) of the steps in that buyer's journey - from problem recognition to solution.
Advanced modern sellers understand this, and seek to contribute maximum value at each step. The most successful way of doing this is through understanding exactly what type of content their buyers are looking for, where they're looking for it, and delivering it at the right time.
Content is the backbone of the Trust Equation and the modern sales process because it does two extremely important things:
- It helps favorably shape the buyer's understanding and view of their problem/solution
- It allows the seller to provide necessary value to the buyer
The more impactful, credible, and timely content is, the more value the buyer assigns to the bearer or author of such insight.