The Circle of Trust

by adamhallas in Blog, Business Development, General, Homepage Blog on June 16, 2010

When asked what sources “influence your decision to use or not use a particular company, brand or product” 71% claim reviews from family members or friends exert a “great deal” or “fair amount” of influence (Harris Interactive, June 2010).” – Bazaarvoice.com

The above backs what everybody else already knows: people buy from their friends. Imagine the iPhone 4 was released today and 10 people you follow on Twitter said it was the worst product since Pontiac came out with the Fiero (This was my dad’s midlife crisis mobile). How would it effect your decision in purchasing the latest goody by Apple? You’d likely think twice. Had Maslow lived in the 80’s in 90’s I think he might have adjusted his hierarchy of needs. He has “Safety” and “Self-Confidence” as separate slivers in the human psyche but as we have evolved in to more ways to communicate I think he may have combined the two to make a larger piece of the pie in his hierarchy. Given today’s world and the ability to communicate with about anybody on the planet, consumers truly do take heed of what others say based on family, friends, and the level of respect they have for each.

Amway is a huge proponent of buying through friends. I am sure my parents were taken in once or twice by neighbors inviting them over for dinner that displayed a huge spread at the low cost of $20. Amway’s market is the family. What is better than a family selling to another family? They know all the needs and usually it is quality and bulk at a low price. How can I feed/supply my household on a family budget?

When I am presenting The Loud Few to a potential client, I have one thing on my mind: make them comfortable. When they are comfortable they tend to make buying decisions faster. I can back this up as my girlfriend is extremely comfortable with ANY shoe sales person she encounters. If you are empathetic to the buyers needs, concerns, and plans, then you deserve the sale. But as I stated above, you cannot forget quality. Friends tell 10 people about the great service they may have received at a certain point in time, but if that one friend had a horrible experience, he will tell 10 times that amount.

Some of my first clients were, and still remain, my friends. They were comfortable with me and respected my opinion/expertise. We did not abuse the existing friendship; rather, once we had them as clients we would host awesome kick-off meetings to address any and all elements of the project, a key factor before starting a working relationship. Why? Because it makes everybody comfortable and safe. If the client understands what we are doing and how we plan to work on the project, then they can better understand the process up front and communicate their needs appropriately.

From a simple suggestion on what to get at a bar to what car is the most reliable, we rely on our friends to help with purchasing decisions. If we didn’t do this, then the retweet feature would be non-existent. Danny Sullivan wouldn’t have a gajillion followers and Amway would be filing for chapter 13. We like comfort, safety, and quality. Is that so hard to ask for in today’s economy?

About the Author
Adam Hallas is the Business Development Lead at The Loud Few and specializes in interactive marketing strategy. You can learn more about him here or follow him on twitter at twitter.com/MrHallas.