Deposits or withdrawals?

Every interaction you have with prospects and customers makes a deposit or withdrawal in their trust account. When the balance gets high enough, connection happens and the customer buys. When the balance dips below a certain level, you lose  that customer or prospect.

For example, let’s look at the case of T.J. Hairston. He is an athlete from my hometown of Greensboro, who is being recruited by colleges to play basketball. One school made one costly withdrawal:

“The thing about Duke was, every time they sent me a letter, they wouldn’t spell my name right,” Hairston said. “They would have ‘T.J. Harrison’ or something like that. And I’m like, ‘OK. How can I go here? You can’t even spell my name right.’ It’s only two letters and HAIR and STON. I’m trying to figure out how that’s so hard.” (check out the full article here.)

All the great marketing in the world is undone with too many debits from the trust account. Obviously, Duke made some big mistakes that cost them the sale.  Remember the competition is trying to make credits too, and it usually comes down to who has the higher trust balance with the consumer when they are ready to buy. Here are a few examples of  interactions and how they affect the customer’s ledger.

Deposits include:

Withdrawals include:

When you look at every interaction with your audience as a transaction, it gives you a different perspective on how to build your business.  Take a look at your interactions and make sure they are  increasing the consumer’s trust balance.

What are other examples of deposit and withdrawal transactions?

photo credit: woodleywonderworks

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