Ethics in Sales Success
Ethics is a code of conduct or principles that govern the way business transactions are handled. “Sales ethics refers to a set of behaviours that ensure that every lead, prospect, and customer is treated with respect, fairness, honesty and integrity”(Pipedrive, 2021).
What is sales ethical behaviour?
Ethical sales behaviour includes:
- Always be honest about the company’s product and service offering, including the features, capabilities, pricing options, and impact.
- Never attacking the competition and always presenting a fair competitor analysis.
- Making a conscious effort to understand the customer’s needs and expectations and provide advice based on the same. “The sales process is fundamentally about helping buyers make informed decisions” (Pipedrive, 2021).
Embedding sales ethics into the company’s culture helps it earn customers’ trust and builds loyalty. Start by clearly defining and communicating a code of ethics and conduct. Follow this by training and retraining the sales team as needed and developing and implementing enforcement mechanisms.
Why is ethics important in sales?
Ethics enhance the business success in sales as they help it to:
- build a good reputation for fair and professional conduct;
- improve customer satisfaction hence fostering repeat business and higher sales over time;
- earn trust and build a loyal, lasting customer base;
- earn the respect of peers, competitors, and customers;
- minimize complaints about your business, remove legal and consumer-rights risks; and
- develop peace of mind.
“Regardless of a company’s reputation, customers choose to do business with people they trust. The sales team has to earn that trust by behaving ethically and conveying a commitment to the customers’ needs” (CBS News, 2007). Ethics help companies to maximize sales efforts both in the short and long run.
Check the following reference articles to learn more about the Ethics in Sales Success:
- CBS News. (2007, November 16). Building Trust Through Ethical Sales Behavior. (URL)
- Pipedrive. (2021, January 7). Sales Ethics: Is There a Code of Ethics for Marketing and Sales? (URL)
- How American Express leverages diversity
- Techniques to Shift from Individual to Corporate Foresight
- The Digital Workspace
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