What's with the Know, Like and Trust Factors?

by Joan Friedlander

If you've ever taken a course in marketing, you've heard of the "know like and trust factors." It seems it would be worth it to understand these factors and what they really mean to us. Those of us that sell services rather than products have three common characteristics.

1. We're selling something intangible. It is invisible. People can't touch it or see it so they have to imagine the results and benefits.

2. Using our services is usually optional. They're not required to live so they are often seen as a luxury rather than a necessary commodity. We may know our services can change lives but investing in our offer usually requires some disposable income.

3. Because of characteristics 1 and 2, we have to do 3 things to make the sale. We have to cover the "know, like and trust factors." We have to appeal to the emotional senses and rank favorably in all three areas. What do these things actually mean?

a. Know - I've heard or seen your name. I've seen you around, I've heard about you and/or your company and I think I know something about you. They may or may not know much but they have a sense they do.

b. Like - I like your style. You make me feel comfortable and I get a sense you care about me.

c. Trust - Not only do I like you but I feel you have enough expertise in solving my problem that I'm willing to pay you good money to do that. It will be worth the return on my investment.

What can help you build the "know" factor?

Advertising in targeted venues, trade shows, public speaking and articles in various publications (in print and on-line) all get your name out there to large numbers of people. If people see you, your name and your picture enough times they start to feel they "know" you. Public speaking can be especially helpful to get your name out there. When you speak on a fairly regular basis, you not only get in front of more people at one time but the advertising an organization does to attract people to the event goes out to an even larger audience. If you're choosing your venues well, then your name will be seen by the people in your target market much more quickly and often than if you tried to meet them all yourself. "Know" alone is not enough. It's helpful, but if you want people to consider buying from you then you have to build a bridge to trust and like. People may know all about you but you still have to make that personal connection. For example, people know Charles Schwab, the company, but they work with Mary Smith, the broker. If you're relying on marketing tactics that build the "know" factor but are shy about getting out and meeting and talking to people, you'll spend lots of money and wonder why you don't have more business.

What can build the "like" factor?

Like reflects your ability to connect with people, to be seen as someone who genuinely cares about others. (Just as the aggressive, self-serving shark personality does not work in your favor; neither does reluctance to put yourself out if you're shy.) Your regular attendance at networking events can launch the "like" factor. But it will depend more on the ways you express interest in the people you meet.

• Do you easily refer people to other professionals?

• Do you care enough about the success of the people in the organization to volunteer in a leadership position?

• Do you invite people you meet to have lunch or coffee with you so you can get to know more about them?

• Do you send personal follow-up notes or something of interest that shows you paid attention to them?

"Like" takes time. If you show up to an event once and expect results, you're focused on the sale rather than the people. Yes, you can go too far and volunteer without business results. That's not what I'm talking about. You need to let people know what you do. It's wise to gauge the value of your involvement with people and organizations. But if you're so focused on the sale at all times you miss the long-term opportunity.

What can build the "trust" factor?

People may "know" and they can even "like" you but if they don't trust you to deliver a service that positively impacts their lives - or business - you may not get the sale. Trust is all about your perceived expertise.

• Have you chosen a target market or specific area of knowledge, something that tells people you know your stuff?
• Do you write articles, produce products, conduct workshops and/or speak to groups so that people can experience your expertise before they spend hundreds or thousands of dollars with you?
• Do you set aside time on a regular basis to become more familiar with the issues that face the people you serve and do you come up with solutions to help them?
• Do you know how to represent yourself well, to use "marketing language" effectively so that people understand who you work with and what problems you solve?
• When you belong to an organization do you find ways to share your expertise with the members so that they can understand what you do and tell others?

Quality business relationships don't happen overnight; they happen over time.

It can be difficult to accept and understand this if you are worried about paying the mortgage. But if you can embrace it and learn to understand the value of your investment in building the "know, like and trust factors," you may ultimately see results that you could mistake for miracles. Hang in there!

To read other articles Joan has written about marketing visit http://www.lifeworkpartners.com/articles/index.htm.

 

by Joan Friedlander, © 2006. All rights reserved.