Credibility’s Impact on YOUR Bottom Line

It’s been a couple of months since you received an InnerCircle. That’s because Pam and I have been working feverishly on our newest book on business credibility. As with all our work, we’re diving deep into the most relevant research and extracting the most usable bits.

One of the categories we’re looking into is how to make the business case to justify spending time and money on building your Credibility. If it's not tied to great returns, why bother, right?  The list below is only four of the ten benefits we explain in the new book. (Scheduled for release in the spring)

1. Shorter sales cycle/Higher closing percentage
With high levels of credibility, your customers don’t feel the need to do as much research, checking, thinking about purchase decisions, etc. as they might otherwise feel they need to do. Trust is already established and this reduces the second guessing and doubt. Ultimately the sales cycle speeds up and the closing percentage increases.

2. More likely to attract and gain higher quality customers
With increased credibility, you are able to step up and swim in a larger pool. We see this often play out in the financial services industry. The higher the credibility the more likely you are to attract larger clients with more assets. This is true in all industries. Think about the automotive industry. Look at Lexus. High credibility and ability to attract a more affluent clientele. Apple – ditto. Fierce loyalty in spite of higher price points.

3. Get more opportunities and “first in” opportunities
You’ll find yourself on the short list, getting calls and requests to bid on choice projects, rather than being forced to chase potential projects and wade through tedious administrative procedures. (This has been our personal experience for years!)

4. More likely to get referrals and introductions
The more credible the organization, the more likely customers are to refer other customers. In a B-to-B situation, those likely to be giving the referrals are likely to have the Driver personality. Drivers will give a referral, but only after vetting the firm and making sure the firm will: 1) perform outstandingly, and 2) make them look good. When you make a referral you’re giving away part of your relationship credibility so you’re likely to do it when you believe in the firm's credibility.

Credibility Summit

We are putting the final touches on a 2-day seminar on how you can improve your own bottom line by improving your credibility. Previously, we taught this program only to our corporate clients behind locked doors.

We will show you the most effective solutions, skills and processes for building business credibility today! Not just opinion, not some rehashed closing technique – these are solutions, skills and processes that have been researched, tested in the field, and scientifically proven to build credibility! (Hey, it’s what we do.) They are simply the most important improvements of your career! And, you can learn them ONLY at the Credibility Summit.

Here are a few specifics:

1. How to build trust and credibility with a skeptical, doubting and cynical public. Sales people and managers tell us that this is the big hurdle all firms are facing. Whether its in person, in print or on the web, most do not know how to build (or maintain) trust and credibility on a day-to-day basis.

2.  How to shorten your sales cycle. Sales are often lost for two reasons: 1) the prospect doesn’t trust you, or 2) the sales cycle is too long. How can you solve those problems? Help the prospect see your credibility. Credibility is what lubricates the wheels of your business machine and turns prospect indecision into motivation.

3. How to use the Credibility Process to turn your practice into a referral magnet.
Referrals are based on your ability to prove your relevance and build the trusting relationship. Relevance and relationships are the result of simple psychology. We teach that skill set.

This Credibility Summit will be held in Phoenix, AZ in early spring. Because we will engage in so much interactivity, attendance is strictly limited to 50 people. If you are interested in joining us, please send me an email (michael@aboutpeople.com) and I will personally place you on the Advance Notice list.

-- Michael Lovas