A sales organization and every executive should recognize trust as the first step towards personal and professional growth and success. In The Myers Report Survey of Advertiser & Agency Executives, Trust and Reliability is ranked as the most valued attribute according to 700 advertiser and agency influencers who responded to the 2021 survey. Two-thirds (67.6%) of the respondents measuring 10 attributes provided by media sales organizations ranked Trust and Reliability as the most important attribute when in a business relationship. Other attributes that closely followed are Providing a Brand Safe Environment andRelevant Content and Programming.Cost Efficiency, Data Privacy CompliantandRelevant Targeted Reachalso generated positive importance ratings. But Trust and Reliability is the No. 1 attribute according to media buying influencers -- and with good reason.
Trust is earned over time by those who exhibit consistently reliable behavior and communication. This includes treating people with courtesy, respect, honesty and transparency. This pattern of behavior is a powerful force.
Stephen M. R. Covey, the son of Stephen R. Covey -- author of the 1989 bestseller The 7 Habits of Highly Successful People -- wrote about the economics of trust in his own important book titled, The Speed of Trust. He writes, "When trust goes up sales go up and time spent working goes down. When trust goes down, sales go down and time spent working goes up." He wisely points to the correlation between trust, sales and the value of time.
Trust in media sales is earned, not given. Trust is fragile, so building equity in the relationship provides the room to manage setbacks and unforeseen circumstances. View trust like a bank account where you make deposits and take credits. The larger the account balance the greater your protection when challenges occur.
A highly trusted organization lives and breathes consistency, continuity and reliability. It's key for leaders to build a culture that demonstrates, practices and maintains these basic components of trust. When trust in an organization is threatened by people, perceptions or press, management must step in and confront it directly and aggressively through reputation management. Maintaining regular communications assures organizational leaders have an established pipeline to influencers and stakeholders.
Here are behaviors common to media that contribute to positive or negative trust.
Trust is the sum of good products, people who care, leadership, process, operations, patience and support. Ad Sales Excellence itself is a never-ending commitment, and an organization that strives for excellence must value and put trust at its foundational core.
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The opinions expressed here are the author's views and do not necessarily represent the views of MediaVillage.com/MyersBizNet.