Introduction
The inseparable relationship between risk and trust is something we don’t always talk about in business. Don’t get me wrong–we talk a ton about how to build trust, but it’s usually positioned as a way to differentiate yourselves from your peers and competitors. “Eight out of ten dentists choose us over the competition.”
That may seem like a powerful statistic, but that’s not what it’s all about. You don’t show your authority and connect emotionally so that your customers, clients, and patrons will think you’re better than the other guy. If you are legitimately talking to your ideal audience, the other guy doesn’t matter. You need to develop their trust so that they feel confident in the risk they are taking by doing business with you. And the higher the risk, the more solid the foundation of trust needs to be.
For example…
Take the examples below. How risky do they seem to you?
- Buying a $12 lipstick at an online retailer.
- Paying a $20 cover to see a local band play at a nearby bar
Not too bad, right? It’s not that there’s no risk, but it’s pretty low-level. If the lipstick isn’t the same color in person as it looked on the computer–you’re out $12 and still on the hunt for the color you actually wanted.
If you ultimately didn’t enjoy the band, you’re short $20 and the time spent that evening.
While both of those situations are inconvenient, if you are a lipstick wearer or a music lover–they were still likely worth the risk.
But how about the following?
- Buying a $200,000 house
- Paying $3,000 for a business coaching
How much more risk is involved now? A lot.
When most of us spend that kind of money on a home, we intend to live there for a long time. Investing that money will affect us every single day. It will impact our quality of life. That’s why we have real estate agents, disclosures, home inspections, and contracts. We make pros and cons lists. We talk to our friends who recently bought similar houses/used to live in the neighborhood/used the same realtor/etc. When a lot is riding on a decision, it takes a lot of trust elements to convince someone to hit the buy button.
The business coaching–while not the same level of investment as buying a house–can give us similar pause. You’ll ask yourself questions like, “Is this coach going to help move my business forward? Or will I essentially be setting $3,000 on fire and remain exactly where I am now?” Unless you do have the time and money to waste, chances are you are going to do a lot of research, ask for references, data, and more before committing.
The ABCs of Trust
So how do you build that trust? You can do it in a variety of ways. In my MessageQuest Framework, I call them the ABCs of Trust.
Authority - Why should people trust that you have the necessary knowledge and expertise to help them on their quest to fortune, beauty, justice, etc? Certifications? Awards? Time in business? A great track record?
Bond - How can you show empathy toward your audience? How are you connected? Do you have some personal experience that will let them know you see them and understand their current situation?
Comparisons - Our brains thrive on patterns. What are some comparisons you can draw between your organization or products and other similar things? “Email–it’s like regular mail…”
Distinctions - While our brains thrive on patterns, you don’t want people to think you’re exactly like everything else. How are you different? “Email–it’s like regular mail, only it arrives almost as soon as it’s sent and doesn’t clutter up your dining room table.”
Emotions - What was the emotional state of your ideal client as they were looking for a product or service like yours? Were they frustrated that they couldn’t figure out how to fix their computer? Annoyed that they needed to sit for an hour or more in traffic to get to a therapy session? Sad that they couldn’t keep in better touch with their grandchildren?
Facts - What are facts/statistics/ that back up your business or products. This is different from authority. For example–if you’re an elevator company that’s been in business for 75 years, that’s your authority. A fact would be something like, “Elevators are 20xs safer than escalators.” Or “Pressing the up and down arrows more often doesn’t make the elevator arrive any faster.”
Keep in mind that some industries and businesses rely more heavily on some types of trust than others. For example, if you are a new business–you might not have a lot to contribute to your authority piece yet. But presenting facts can help show your knowledge of the industry, which will build your authority over time. Strengthening your bond will help people connect with you–and what is a successful business but a constant, reliable connection to others?
Conclusion
When you are building trust with your clients, it’s not to show how much better you are than “the other guys.” It’s showing your audience why what you offer is worth the risk. Use the ABCs of Trust to help reduce their anxiety and have them feeling as confident as you are in your organization.
