Click HERE to watch video.
Know Like Trust
You've probably heard the old saying, “People do business with folks they know, like, and trust.”
The way people say it, Knowliketrust sounds like one word. A single thought. Something that happens all at once.
Knowliketrust.
But here's the thing: The “know, like, and trust” mantra is made up of THREE VERY SEPARATE COMPONENTS:
Not knowliketrust. But:
Know Like Trust.
Know. First, people have to know you. Full stop. This is an essential prerequisite without which the subsequent steps cannot proceed. Establishing familiarity sets the stage for further engagement.
Like. Next, they have to like you. Full stop. Winning the affection of others requires a genuine connection, a natural bond that transcends mere acquaintance.
Trust. Eventually, trust emerges as the ultimate cornerstone of any transactional relationship. Trust is the catalyst that engenders confidence. Once trust is developed you can move forward with the relationship.
Okay – I already know what you're thinking… “Sure, Bruce. But people already know, like, and trust me. After all, I close over 80% of the prospects I meet.”
I'm sure you do. But keep in mind that unearned familiarity creates the false expectation that people you encounter know you, like you, and trust you immediately. This is known as Unreasonable Expectationitis.
Know Like Trust.
While such exceptional achievements can happen, they don't change the reality that most individuals do not make immediate purchases or conduct business with strangers. Rarely does anyone buy from someone they have just met or visit a new website the first time they encounter it.
This is supported by studies revealing that less than 15% of individuals make immediate purchases. That means a staggering 85% of potential clients and revenue remain untapped.
How can this be addressed? Let's begin by acknowledging that while the Know Like Trust process comprises three distinct steps, a single rule governs its progression:
Patience.
If you do things properly, you'll notice that trust happens naturally. You don't have to do anything extra to create it. Over time your prospects will reach out, propelled by their growing trust in you and their desire for more of what you're offering. But this process cannot be rushed; you must let it take as long as required. Sometimes it only takes three minutes. Sometimes it takes three days, three weeks, three months, or three years. And sometimes, it doesn't happen at all. You must follow the steps properly and patiently, providing value without pushing with a sales pitch too soon. The key is that you don't get to decide how long it takes – that's solely up to your prospect and their sense of comfort and commitment.
Building a Know Like Trust strategy also requires a lead magnet or locomotive – a referral, opinion piece, special report, or something else that helps your prospects first identify with you and feel like they're getting to know you. Look at this blog, for example. Because you and I share this virtual venue week after week, it has fostered our relationship and helped me extend my own Know Like Trust network.
The delightful news is that once your locomotive ignites your prospects' interest and they finally make contact, they will feel like they already have a relationship with you. And they'll be looking forward to doing business with you.
In order to know you better, I'd love to hear what you think about this idea. Please click on the “Comments” button below and let me know.
Thank you.
Good points BT thanks.
It reminds me that my Pop used to say, “It’s not what you know, it’s who you know.” I’ve learned that in addition, “It’s not who you know, it’s how you know them.”
It is the content of our relationships that count.
Excellent post. I confess that I do indeed tussle with Unreasonable Expectationitis. This was a timely post for me as I need to cultivate patience with the 85% rather than pin my hopes to the 15%. Thank you, Bruce!
In more than 40 years of being in the ad agency/marketing communications business, one of the seminal moments was learning about Agency Baseball, a concept developed by new biz pro Stuart Sanders.
First base was Trust, second base was Needs/Budget, third base was Timing and if you pass through those bases you Score. Agency baseball was the only baseball where you could score direct from second and not pass third if someone needed something immediately.
So, we spent a majority of time on building Trust (of course they have to know about you; not sure necessarily they have to like you…yet). And, all women (and men) know that you don’t get to second base without Trust.
Worked pretty danged good…43 years worth and still going even stronger.
I only ran our agency for 32 years, George, so I never hit the 40-year marker. NO WONDER I never learned about Agency Baseball. If I had only hung in there for eight more years…!!