What does a customer feel first about you, Trust or Respect? This video shows the behavioral neuroscience to why sales are lost if you don’t put first things first…
Psychologists refer to Trust as warmth, empathy — and to Respect as competence (e.g., in your technology, products).
"If someone you're trying to influence doesn't trust you, you're not going to get very far; in fact, you might even elicit suspicion because you come across as manipulative….Only after you've established trust does your strength become a gift rather than a threat.”
— Amy Cuddy, social psychologist, Harvard57% of the Purchase Decision is Complete before a customer has a conversation with anyone in the organization.
Trust companies beat “the average annualized returns of the S&P 500 by a factor of three.”
— The Great Place to Work Institute, with Fortune, ‘100 Best Companies to Work For.’
“Trust is not a soft, social virtue — it’s truly a hard, economic driver for every organization. Trust affects two measurable outcomes: speed and cost. When trust goes down (in a relationship, on a team, in an organization, or with a partner or customer), speed goes down and cost goes up. This is a ‘low-trust tax.’ The inverse is equally true: when trust goes up, cost goes down, and speed goes up resulting in a ‘high-trust dividend.’ There is plenty of evidence to support this.”
— Stephen M. R. Covey, Douglas R. Conant
45% of CEOs have this blind spot for seeing the revenue-driving value of Trust. Of the other 55% who say they ‘think lack of trust is a threat’ to organization’s growth, most have done little to increase trust and aren’t sure where to start.
The most trustworthy companies outperform the S&P 500. — Trust Across America
High-trust companies are “more than 2½ times more likely to be high-performing revenue organizations.”
— Interaction Associates
Click here to: Learn More re: value of Storytelling
Sources: 1. The Connection Between Employee Trust and Financial Performance, Harvard Business Review, Stephen M. R. Covey, Douglas R. Conant; 2. Paul J. Zak, founding director of the Center for Neuroeconomics Studies, Claremont Graduate University, and author of Trust Factor: The Science of Creating High-Performance Companies; 3. The Connection Between Employee Trust and Financial Performance; 4. Global CEO survey, PwC; 5. Presence, by Amy Cuddy, researchers Susan Fiske, Peter Glick.
Contact us here