The 6 Dimensions of a Trusted Advisor
Updated: Sep 20
The Journey to Being Seen, Being Trusted, and Being Indispensable
Trusted Advisor 101
The Who, When, and Why
What do top-tier brands spanning different industries have in common, besides industry-standard tactics and a relentless workforce? Two words: TRUSTED ADVISORS. For the newcomers in the big leagues, these two words might be unheard of - just what is the Trusted Advisor model? What is a Trusted Advisor in business? How do we pick and define Trusted Advisors? Can you become a Trusted Advisor yourself? Learning about it is just half the battle, and time is gold. Let’s start!
The Trusted Advisor's Job
For starters, you might be curious about the Trusted Advisor’s job description, the tasks, and what they entail. The Trusted Advisor is a high-level salesperson who has duties that may transcend beyond field expertise and/or strategic resources, and into participation in crucial decision-making with the top-level leaders. Approaching situations from different standpoints and angles, they can provide different measures of context into strategic discussions. Equipped with their own expertise and network, Trusted Advisors are able to forecast and provide long-term solutions and recovery options for the future.
The Trusted Advisor's Characteristics
Next up are the Trusted Advisor’s characteristics, traits, and skills top-tier companies are on the lookout for. Different companies and industries may have different needs, but when it comes to a Trusted Advisor, there are characteristics that businesses specifically need. Here are some:
Has Exceptional Focus
First, they should have an exceptional focus. Trusted Advisors are expected to be able to provide solutions for problems in both micro and macro aspects. Their problem detection and solving can range from the basic workflow logs from the bottom of the pole, and up to influencing a new culture with the top-level managers and leaders.
Discreet and Trustworthy
Considering that they will be dealing with pivotal decisions and sensitive internal information, a Trusted Advisor should know and appreciate the utmost value of your company’s strongest trade secrets. And they should also know how to protect the chinks in the company armor, with the greatest discretion.
Industry Expert
There is no question that your Trusted Advisor should also be an Industry Expert. Having someone of authority in the field by your side not only helps your company’s value in the eyes of others but also boosts your company’s internal morale. A prominent figure always comes with their own unique mastery and expertise, as well as their own resource and network, assets that can prove invaluable in the long run.
Embodies Core Values
Aside from this, a Trusted Advisor should have the ability to fully comprehend the company’s core. What your Company’s values are, the vision and overall aim in the industry. Your Trusted Advisor must be savvy enough to understand and provide genuine care for your company’s pillars. From there, they can offer long-term solutions suitable to your operating ideals.
Effective Communicator
And most of all, a Trusted Advisor should be a master at relatability and an extremely effective communicator. To understand the bits and quirks that make the machine go, the Trusted Advisor should inspire cohesion and open discussions, from all levels of the company. Through information gathered, they can provide a new solution from a different context. Efficiently they must make complex ideas simple, and elevate simple ideas into complex solutions. With this, They can nurture deep business relationships and build client trust.
These are just some of the most sought-after Trusted Advisor skills and traits, feel free to add your own unique offering in order to gain that industry edge!
Becoming a Trusted Advisor takes time, training, and the drive to stand above your peers in a highly competitive industry. A Trusted Advisor comes with the experience of handling complications of varying natures and degrees. They can deliver market predictions and estimate upcoming complications, then provide alternative routes for future resilience and recovery against risks. No two companies are the same, and with a great Trusted Advisor, a company can be provided with tailor-made and personalized solutions to their distinctive issues.
Is it Worth it to be a Trusted Advisor?
The business realm is much like a bustling market square. The clamor is deafening, with everyone claiming to have the magic elixir. Amidst this cacophony, there's a quiet corner everyone seeks but few occupy - the Trusted Advisor spot.
The metrics have never been clearer. Earn the role of a trusted advisor, and the numbers speak for themselves. 3.5 times the share of spending. 14% higher client profitability. Double your client retention.
But the heart-sinking truth? Barely a quarter of all business relationships ever earn this status. That's a whole lot of missed opportunities.
The Paradox of Competence and Missteps
How clients choose their Trusted Advisor
Take a step back. Slip into the shoes of your client. The business landscape is a maze they are trying to navigate, looking for their North Star. Who to believe? Who's got their back? Who can lead them to the promised land? Who can help them win – however they define winning?
They're not looking for a transaction. They're searching for a guide with the skills, stories, and narratives that resonate. Are you this guide?
In deciding, they'll review your past behavior: the timeliness of your responses, the caliber of your past work, and the process of getting there. Each interaction, whether minor or significant, weaves a story in their minds about your commitment and capability. Every encounter is an opportunity to prove your worth – or falter.
For instance, imagine scheduling a pivotal presentation, only to realize you misread the time zone difference and arrived an hour late. To you, it's an innocent oversight; to your client, it's a narrative-defining moment. Or perhaps in your eagerness to move a project forward, you bypass your primary contact, approaching their superior. It seemed strategic at the time, yet it's perceived as a breach of trust.
In the end, they'll recall, not just your product and service, but the way you made them feel. Will you emerge as that guide that helped them become the hero of their own story? Or were you just another faceless vendor in the crowd?
The Six Dimensions of a Trusted Advisor
The pathway to becoming a Trusted Advisor transcends excellent service or product offerings. It's a deep dive into recognizing, valuing, and addressing the continuously evolving needs and narratives of your client.
These are based on 6 Trusted Advisor dimensions:
Consider these six dimensions as the chapters of your own story.
Integrity
More than just being honest, it's about being the rock, the reliable anchor your client can always depend on; aim for being the guiding star they can always navigate by.
Competency
You're not selling a product or service; you're selling peace of mind. When your client thinks of you, they relax, they feel assured. Every time. Deliver that, and you've just penned a memorable chapter and they've just trusted you with their business.
Recognition
A trusted relationship isn't about awards or accolades; it's about perceiving and acknowledging each client's unique journey. It's the nod, the smile, the understanding that you see them, not just as a business deal, but as a unique partner. Everyone's got a story. Listen to your client's weave it into your narrative, and you've just gained a lifelong reader.
Proactivity
Anticipate, don't just react; show them that you're two steps ahead. Understand trends with the proper cx insights. Have a plan, highlight the opportunities, foresee the pitfalls, and illuminate the path forward.
Savvy
Recognize and understand the professional and personal issues your client cares about. Be in sync with the times and trends; know what keeps them up at night – externally and internally. Consider every decision and action in light of these realities.
Chemistry
Cultivate that intangible click that makes collaboration possible. Sometimes it's the unspoken word or the intuitive sync that turns a mundane task into a mutual partnership.
These aren't checkboxes to mark off. They're foundational pillars that shape client perceptions. However, in our research, a staggering 86% of salespeople and account managers have significant blind spots in understanding their clients’ perceptions of them across these six dimensions.
Let’s face it, we’re not all above average, and this lack of insight can quickly derail even the most promising business relationships. If there's a mismatch between your self-perception and that of your client, it's time for introspection and course correction.
The Path Forward: Begin, Reflect, Adapt
Where to begin the change to being a Trusted Advisor?
The next time you encounter the question “What is a Trusted Advisor?”, you are now a resident expert! The Trusted Advisor is becoming a vital aspect in running the modern-day industry giants - they are the kingmakers of the future. With the right opportunity, drive, and program, you too can be a Trusted Advisor! And when coupled with expert training, you can teach your people how to become Trusted Advisors themselves!
Embracing the Trusted Advisor mantle is an unending voyage of growth and evolution. Feel the weight? The anticipation? That's alright. Embrace the challenge and the rewards it brings.
Start by assessing your true standing with each client. Set aspirational goals. Be a student of your craft. More than anything, tune into each client’s perceptions.
At the crossroads of you, your offerings, and your client’s perceptions lie the magic formula.
The path is clear: Are you ready to become indispensable?
Check out our materials on being a successful Trusted Advisor here.
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