I’m excited to release my latest book, "The Trust Premium," a deep dive into the vital role trust plays in business and relationships. At its core, this book addresses a simple yet powerful truth: people buy from those they trust and are often willing to pay more. While this might seem obvious, the extent to which trust impacts decision-making, loyalty, and pricing has never been fully quantified—until now.
Through extensive research and surveys, I’ve discovered compelling insights:
96.6% of customers will choose a trusted provider over an unknown one.
Customers are willing to pay 39.4% higher fees for the same service if they trust the provider.
Existing customers will only switch to a competitor offering a 28.3% discount if trust exists.
These findings reveal the measurable impact of trust in business. But this book isn’t just for customers—it's written for salespeople, professionals, and service providers who want to understand how to build and leverage trust to succeed in competitive markets.
The Journey to Understanding Trust
My exploration of trust began during my doctoral research on organizational creativity. I discovered that trust was the underlying factor enabling leaders to foster autonomy, risk-taking, and honest communication in teams. Over time, I realized these same principles applied to sales and business relationships. A pivotal moment came during a client meeting, where I saw how a lack of trust disrupted workplace dynamics. This revelation led me to create a conceptual model of trust and dedicate myself to uncovering its deeper impact.
One of my key studies explored how trust affects customer decisions. In a survey, participants overwhelmingly chose a contractor who demonstrated trustworthy behaviors over one who didn’t, even when the trusted contractor’s price was higher. I quantified this willingness to pay more as the Trust Premium, averaging 29.6%. Conversely, customers demanded a No-Trust Discount of 22.8% to choose a less trustworthy option. These findings prove that trust not only influences decisions but also drives significant financial outcomes.
Who This Book is For
This book is for anyone in sales or business who wants to attract more customers, charge higher prices, and build lasting loyalty. Whether you’re a financial advisor, insurance agent, consultant, or entrepreneur, trust can be your ultimate differentiator. By building authentic trust, you’ll stand out in competitive markets, increase customer loyalty, and stop relying on cold calls and discounts to win business.
What You’ll Learn
The book is divided into four parts:
The Trust Premium: This section explains the research and theory behind trust as the ultimate differentiator, detailing why customers prefer to pay more for trusted providers.
Understanding Trust: I delve into the nature of trust, how it’s built, and what makes someone trustworthy. Concepts like the Eight Laws of Trust and Relative Trust Model offer practical insights.
Trustworthy Behaviors: Here, I share key actions that strengthen trust during the sales process and in customer relationships.
Building Trust Habits: The final section focuses on forming lasting habits that increase your trustworthiness and maximize your Trust Premium.
This book isn’t about tricks or shortcuts to appear trustworthy. Genuine trust requires authenticity, integrity, and consistent behavior. Attempting to fake trust will inevitably lead to failure. Instead, this book offers actionable strategies to help you embrace trustworthiness as a core principle and strategic advantage.
Why Trust Matters
Trust is a powerful force that not only drives buying decisions but also fosters loyalty and referrals. By cultivating trust, you can position yourself as the go-to provider in your field, command higher prices, and build deeper, more meaningful relationships with your customers. As I’ve learned through my research and client work, trust is both a differentiator and a measurable asset—one that you can develop and leverage to achieve long-term success.
I’ve poured years of research, personal insights, and practical applications into "The Trust Premium," and I’m excited to share it with you. My hope is that it will empower you to build trust in every interaction, leading to stronger relationships, greater success, and a lasting legacy of authenticity.
Enjoy the book—and thank you for trusting me with your time and attention.
Want to hear the whole story? https://podcasts.apple.com/us/podcast/s16e1-the-trust-premium-book-introduction/id1569249060?i=1000683012761
Dr. Yoram Solomon is an expert in trust, employee engagement, teamwork, organizational culture, and leadership. He is the author of The Trust Premium, The Book of Trust, host of The Trust Show podcast, a three-time TEDx speaker, and facilitator of the Trust Habits workshop and masterclass that explains what trust is and how to build trust in organizations. He is a frequent speaker at SHRM events and a contributor to HR.com magazine.
The Book of Trust®, The Innovation Culture Institute®, and Trust Habits® are registered trademarks of Yoram Solomon. Trust Premium™, the Relative Trust Inventory™, and The Trust Show™ are trademarks of Yoram Solomon.
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