Gaining customer commitment – Is there a secret? - Is it a myth?
Is there really a secret to closing more sales? or is that just a myth? A mystical secret handed down through generations...
If there is a secret to selling, then it surely has to be that the creation of trust in a client relationship is the key to unlocking the gates to commitment. When we have trust we have the opportunity to get decisions faster.
Warren Buffet’s $23 billion acquisition of McLane Distribution from Wal-Mart was completed in less than one month with no due diligence.
When Gary Barron, executive VP at Southwest airlines wanted a $700 million maintenance reorganisation, it took a 3 page memo followed by interaction and approval was secured in four minutes.
Jim, who is a New York Coffee & donut sidewalk vendor, put a basket on the side of his cart with dollars and coins trusting individuals to take their own change correctly. With customers working out their own change he was able to save so much time he was able to serve twice as many customers and pretty much doubled his turnover. Customers were so impressed with the system they often left larger tips and more became repeat customers simply because they felt trusted.
Think of a relationship you have where you consider trust is high
How quickly can you get things done? How easy is to communicate? Building trust equates to speed of movement. When trust is high with a prospect or customer then asking for commitments from them actually appears far more reasonable in their eyes. Anything that appears reasonable is far more likely to be acted on. For us – that’s good news.
Trust = Commitments
I remember the largest deal I signed in my time with American express. This deal was so big it would immediately mean I had achieved both that present year's target and the following year's target too. The negotiation was done on a high bed of trust so that when the day came to close the sale, the close I actually used to get the final commitment was highly effective, because there was a high level of trust the closing question appeared perfectly reasonable to the client.