In this episode of the Market Dominance Guys, Corey and Chris agree on the importance of building trust before anything else can happen. They are joined by Transformational Coach Jennifer Standish, Henry Wojdyla, Founder and Principal at RealSource Group, Matt McCorkle, Manager of Branch Operations at Kaiser Compressors, and hosts Ty Crandall on the Business Credit and Finance Show, Jeff Lerner from Ep 150 of Millionaire Secrets, and David Dulaney on the Sales Development Podcast. The full episodes to the ones included here are listed below:
Welcome to another session with the Market Dominance Guys, a program exploring all the high stakes speed bumps and off ramps of driving to the top of your market. With our host, Chris Beall from ConnectAndSell and Corey Frank from Branch 49. In this episode of Market Dominance Guys, Corey and Chris gather consensus on the importance of building trust before anything else can happen. They're joined by transformational coach, Jennifer Standish, Henry Wodjdyla, founder and principal at Real Source Group, Matt McCorkle manager of branch operations at Kaeser Compressors, and host Ty Crandall on the Business Credit and Finance show, Jeff Lerner from Millionaire Secrets and David Delaney on the Sales Development podcast. We hope you enjoy this episode of Market Dominance Guys. Building trust needs to be step one.
It seems the trends, in just society in general, is more digital typing, texting, sending snaps or whatever. It's much more digital, but that human connection, especially now during, this time period is so important. So where do you see the gap in the sales development world right now, between folks focusing on just that typing and texting and stuff like that versus actually having conversations with people?
Well, it's a chasm. It's huge. The challenge is this, the human voice carries about 20,000 bits of information per second. And an email, a whole email has about 5,000 bits. So it takes four emails to be the equivalent of one second of a conversation with regard to information. And it takes information, lots of it, before we trust somebody, because we're smart.
We're not going to just trust somebody on what's in an email, we got to get more. And it turns out it takes about seven seconds of a conversation, which is the equivalent of seven times four, 28 emails to get somebody to begin to trust you. So who's going to read 28 emails? I mean, really? I don't think anybody does that. So when you look at the problem of sales development, not as, I made you answer my email, but you look at it instead as, among all the competitive offerings, especially do nothing, which is the big winner in business as the status quo. How do I become the most trusted and how do I do it before my competitor does?
If you see that as the problem, if that is what sales development needs to do, then the gap's pretty simple, sales development reps aren't talking to enough people. And when they do talk to them, they're talking to them incorrectly. They're not talking to them with an intention of building trust. They're talking to them with an intention to get them to take a meeting. Or worse, they're talking to them about a product, which is if you want to do the worst thing you can do in sales development, call somebody up and tell them that you have a solution to a problem that they have. You have a product that solves the problem they have. Because you've just insulted them. You just called somebody up, who's supposedly competent and diligent, and said, did you realize you were waiting for a salesperson to tell you how to do your job?
Jennifer Standish joins our Market Dominance Guys in this episode 123 where they're talking about hiring grandmas. I know, I know what you're thinking. What are you talking about? Hiring grandmas. Listen to this and you will understand the importance of building trust, tonality, and how women of a certain age have this skill as well as thick skin. Join us for this segment.
Certain voices cause people to act in a positive way, even if they don't take the meeting. So you're actually conditioning the market for all your future communications, that thank you that comes after every conversation. Thank you for our conversation today. The only email in the world of B2B that always gets opened. The only subject line that works, everybody talks subject lines all day long. There is only one subject line that works in B2B. Thank you for our conversation today. Now the only way that it's honest is if you just had a conversation. Now you're down to how do they feel about it? And that feeling determines what happens to four out of every five of the pipeline dollars that will come out of calling. Because four out of five of the pipeline dollars that come out of calling do not come from the meeting that was set in the cold call. They come in the communication that happened afterwards that's been conditioned by the trust that was built in the cold call.
It blew everybody away except for me. And I was like, this woman is going to be phenomenal. So yeah, so maybe we really, really, really need to change how we're hiring. And these women love it. They feel useful. They are proud of what they're doing. They have a really thick skin because they've lived a long life and they've seen things. And there's just something about their energy and you just trust them immediately. So I don't know, Chris, we should come up with something on to use this talent.
Well, we should, I'm down here right now in Quail Creek, Arizona. And this community, I think we have 3000 houses or so. And I would say of those 3000 houses, 2,937 of them have somebody of grandmotherly age of the female persuasion who's living there. And they arrange everything here. They make everything happen. I actually think every once in a while that it's just the company that needs to be started. No one has ever made an appointment setting company that operates reliably at pay sent scale. And the reason is that the inverted S curve around hiring eventually kills them.
So it's hard to find the marginal talent to add to that group. And then Corey, you've done it within the companies and you know how hard it is. That thrash at the edge, I call it, the thrash at the margin that occurs where the hiring, where the in and the outer happening at about the same rate.
Its like your drop of water can only get so big before it's boiling as fast as you're adding to it. And then all of your time is going there. And then the quality deteriorates at the center. It's just the way these things happen. And you're taking on customers that are less sincere and less interesting and less worthwhile and blah, blah, blah.
Henry Wodjdyla joins our Market Dominance Guys with so much grace and respect for some of them that have come before him that he's learning from regularly, including Matt Forbes and Cheryl Turner from the episode, Borrowing From the Best
That concept of building trust. We've had a lot of episodes, probably more than half of our episodes. I'd say, Chris, it comes up one form or another. And you referenced Warren and we had him on a few times and talking about that, certainly. And Chris has had many great episodes and riffs where we talked about tonality and in the Sandler world, nurturing. And Matt Forbes is exceptional at that. Mark, you're from ConnectAndSell is exceptional at that. Cheryl is, as you write the one of the masters of our craft at that.
Do you find that talking now being aware, because you can't unsee it, you can't unknow it now, is that when you talking to other asset managers or property owners or investors, that the tonality, the pacing, has changed as well as your approach? And has that made an impact? And I'm asking this under the guise, Henry, of there's a lot of folks in our sales profession who say you can't cold call. It doesn't work. Right. Chris and I, we love engaging in discussions with people like that. And for our competitors, you're right, it doesn't work. So don't use it. It's a waste of your time. But for those that are open, how much of what you do is this nurturing tonality, pacing, and what kind of difference have you seen by employing that more trust based approach with your voice as well?
It's an all the above answer it. And speaking of feedback loops, here's another one maybe in the micro on the framework of a 27 second cold call, hopefully, maybe even less. It's the idea that... Another thing you guys have talked about by the way is belief, the power of belief. And I would say if the power of belief is there, it frankly takes care of the rest. And if you believe, not just in the power of the discovery meeting, but the fact that you can offer something ultimately of value, but the pathway is trust, it almost really, it takes care of the rest. And I don't mean that to be either a glib or partial answer to your question, but it all comes together, I think, in that essence.
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In episode 150 of Millionaire Secrets, Jeff Lerner and Chris Beall visit about the innovation economy. Chris says, so the innovation economy is bottleneck somewhere. I happen to believe I know where it's bottleneck, which is in the failure to create a trust relationship with somebody who might avail themselves of that innovation. Three years from now, three years in advance waiting. It's not really the way to allow the innovation economy to achieve its potential. It's creating trust relationships. Chris goes on to say, it's creating trust relationships, where somebody gets to the point where they trust somebody with an innovation more than they trust themselves because they're the expert. They've got to trust them more than they trust themselves.
So that's why we're doing what we're doing at ConnectAndSell because we have this bottleneck of the entire innovation economy, which we all depend on for our future. We all depend on these innovations going to market, and yet business leaders, business executives, people who've managed them who run them, invest in them, don't see what we see, which is the bottleneck, which is the flow rate of discovery meetings with potentially relevant people as early as you can get. And the foundation for making that flow rate consistent is building trust capital across the whole potential market well in advance of them, even wanting to hold a meeting. If you can do those two things, your innovation will go to market. Now you only need the goods and the will.
That blew Jeff away. He was saying because he struggles. One of his infinite game struggles is finding ways to explain to people what sales really is and why it's not only so essential, but it's actually one of the most beautiful human activities. And just as Chris explained it better than he ever could, even the name of his company ConnectAndSell.
Let's go on to the next segment.
On the Business Credit and Finance show hosted by Ty Crandall, Chris was telling us everybody's got a value proposition. Those things flow around the internet like water at this point. They're on LinkedIn, they're here, they're there, everywhere you go somebody is saying, "I've got this great value proposition. I've got this reason you should do business with me." But why aren't you doing business with them? The answer is you don't trust them.
Chris says that the B2B buyer is super cautious by their very nature. They've got to trust you, the seller, more than they trust themselves with regard to this purchase. Because you are the expert. You've got to trust the expert. It'd be stupid to trust a non-expert, oneself, more than the expert. So they're in a quandary. The only way that quandary ever gets resolved is through personal trust. If you can establish trust reliably very early in the relationship, then you can build on that to get the value.
From episode 109, Matt McCorkle manager of branch operations at Kaeser Compressors talks about legacy. He and Corey talk about the importance of preserving that legacy. And the only way to do that is through trust. Listen to this segment from that episode.
And Matt, I think that you can't have a company Kaeser that's been around for over a hundred years, and certainly you have technical competence, the company does. You have industry competence. But I think probably the leadership that continues to come generation after generation continues to engender that trust. Kaeser is a name that I can pick up the phone at three in the morning if I have a problem with, if I have a problem, I know that Kaeser's going to try to figure out or manufacturer solution to help me. Sometimes it's a little tougher to get when it's pure software and there's no touch. When it's, e-commerce alone you miss out on certainly some conversations like this at an enterprise level or at a more intimate level. And you have just the brand promise the website, the commercials to somehow sometimes drive that. And it'll be interesting to see if those companies end up being as durable as certainly ConnectAndSell or Kaeser.
Chris and I were actually talking about that as it relates to ConnectAndSell building trust, getting meetings with folks, because as I was calling with Cheryl, we're trying to set up some virtual meetings, phone meetings. It's not common in our industry. And it's because of exactly what you put your finger on there, Cor, this is a hard product. It's a piece of machinery in somebody's plant, and they want to know that they can believe that you have the absolute best machinery ever. It's just amazing. It's reliable, it's efficient, it's just incredible piece of machinery. But if you can't support it, they don't want it anywhere near their plant. And so that support piece, that you're going to have somebody here at three in the morning, they're going to know how to put it back together if something catastrophic happens, that's really critical in our industry.
So then when it comes to ConnectAndSell, a lot of times, you're pushing for that face to face meeting. And then the way, certainly, we use the sales process after that is to demonstrate that not only do we have business outcomes, but we also have the infrastructure to support these business outcomes in terms of technicians and parts, support and things like that. That is definitely a piece that comes into play. I feel that it is more difficult to sell, remotely that you need a little bit of that face to face touch. Now, certainly we're not giving up on doing things from a virtual perspective because it's such a powerful time savings, but at some point in that process, you've got to make that connection.
So the stewardship that you're responsible for that company, the leap of faith of trust that you had to have to say, I want to take this approach, not only from selling, but also from certainly the technology benefit of a ConnectAndSell. We can't underestimate that. And I think that there's going to be a reciprocal effect as you continue to see the market dominance effects occur. You're number three in the US, hey, I'm sure when you're on the episode, when the show maybe next year, maybe be number two, and maybe that'll be a take away. But the math says three years. Right Chris? So we got another year to cram it in. So we'll see how it works.
But I imagine that it'll be fun as you look at the legacy is the reciprocal effect of Matt McCorkle inside company like Kaeser, going to be affecting the results five years from now, 10 years from now, 15 years from now. And if you probably have clients that have been with that organization for five years, for 10 years, for 15 years, and they continue to be fans of Kaeser. So those are some of the larger ramifications of focusing on market dominance and the strategy, and really is the residue of that or the DNA level of that is that you build trust and you're building trust, certainly with your team, with your board, with your leadership team by this is the way we are taking these mantles in planting them here by this is how we're going to sell.
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