The trust equation is a mathematical representation of the measurement of one’s trustworthiness. It is calculated by the use of 4 variables: credibility, reliability, authenticity, and self-interest. They are each utilized in turn to represent various aspects of one’s trustworthiness. 

• Credibility: Credibility refers to one’s subject matter expertise. For example, a tax lawyer has high credibility for legal concerns with regards to tax payment or lack thereof. 

• Reliability: Reliability focuses mainly on the actionable aspect of trust. When someone is reliable, it means that you trust them to follow through on their actions. An example of reliability would be a friend promising to pick you up from the airport and you trust that they’ll be there when they’re supposed to. 
• Authenticity: Authenticity consists of being genuine in your approach towards others. It also includes being trusted with sensitive information that should not be shared with others. 
• Self Interest: Refers to whether one is transparent and forthcoming. Trust is hardly doable when someone is hiding secrets or details. Openness and transparency are keys to developing a long-lasting level of trust. 

Over time trust is built when the components of the equation are known and visible and correctly balanced to provide a positive outcome. 

Building trust is a critical aspect of developing close relationships, whether platonic, romantic, or professional. When working to develop a professional relationship with a qualified lead or existing customer, developing a sense of trust is critical to maintaining the relationship long term. Ideally, your strongest customers are more than just the one and done type. Not only do you hope to identify a lead that can be converted to a sale, but the ultimate goal is also that down the line that person or business may become a referral partner for future business. 

Most often, buyers spend time evaluating their options before making a final purchasing decision. Whether in the B2B or B2C industries, most choose to closely evaluate their options and decisions before moving forward with them. For that reason, establishing an open and trusting relationship with your leads can be extremely beneficial. 

Should your leads and customers grow to develop a close trusting relationship with you or your team, they are more likely to come back to you in the future, whether for future deals or even referrals. Without the aspects of credibility and reliability, this may not be the case. Part of earning the trust of a professional partner is proving that you deserve it. This is where the trust equation comes into play. 

If your sales team could use coaching and support on how to develop trusting relationships, we can help! Kelli Yount’s long-standing professional background and experience have provided her with a wealth of knowledge, including the importance of creating and maintaining trust with her clients. For support bringing her level of expertise and professionalism to your business, reach out for a free consultation today!