Most owners know that building a successful business takes time, effort, and persistence. But many business owners don’t realize that the core of their company is the ability to establish trust with their customers.
When companies build trust, they enable customer evangelists ready to advocate their business. That will, in turn, increase brand visibility, attract more customers, and increase revenue. Building trust establishes a solid foundation. You receive a stronger customer base and cultivate business for continued growth.
Building Trust in a Digital Market
No matter what kind of business you have, it’s undeniable that the internet plays an influential role in attracting customers. The internet continues to create new opportunities for businesses to connect with their customers and grow their business.
But the power of the internet isn’t without growing competition and more options for consumers to choose from. Increased competition can make it difficult for businesses to build lasting relationships—even with a solid growth plan.
For this reason, it’s important that businesses prioritize building trust with their customers if they expect to grow their business. Let’s take a further look at why building customer trust is important.
4 Reasons Customer Trust is Important
Customer trust is the foundation of every successful business. Here are four reasons building trust is essential to enabling business growth.
#1: No trust equals no customers
It’s simple enough — no trust equals no customers. Customers aren’t going to spend their hard-earned money on a company they don’t feel confident in. You can have a quality product or service but if your target customers don’t trust that you can deliver, it doesn’t matter.
The reality is consumers have options. This means that it’s going to take more than a marketing strategy focused on generating customers. Businesses need to understand how they can establish trust with their customers.
When you have a genuine connection with your customers, your company will stay at the top of their minds. You will also sets your company apart from competitors by establishing loyalty, which leads to business growth.
#2: Happy customers provide insights to your marketing strategy
When businesses think about employing a marketing agency to grow their business, most companies want strategies that lead to greater visibility, more customers, and increased revenue. While this is an essential aspect of business growth, it won’t matter much if you haven’t done the work to establish trust.
One of your best marketing strategies is to put emphasis on making your customers happy. Start with getting them to trust your company and what you offer.
In 2019, 81% of consumers said that they need to be able to trust a brand before they buy from them. What this means is that consumers are willing to reward businesses when they work to build trust.
#3: Competitive edge
Keeping a competitive edge is often a challenge for businesses. The market is constantly changing. Most companies work to keep up with new trends to stay ahead. This makes it difficult to know what works and what’s a waste of time.
But keeping an advantage is not as difficult as you might think. In today’s digital economy, trust is a must-have for consumers and the best way to capture their attention.
Consumers today are more hyper-aware of whom they do business with. Their loyalty has gone beyond who can present the best product or service and shifted towards businesses that care about being transparent, authentic, and focused on building genuine relationships rather than making the next sale. This is essentially what will help businesses continue to grow and thrive — even in a competitive market.
#4: Improved reputation
Your reputation matters when it comes to growing a successful company. Forming a bad reputation will quickly steer customers away and stop business operations right in their tracks. But a business with an excellent reputation will increase its perceived value, attract more customers, and propel it to the next level.
With that said, the best way to build a positive reputation for your company is through trust. When customers trust your business, they find you credible and want to do business with you. This means greater advocacy, loyalty, and engagement from customers. This sets the tone for your business, and as customers advocate, businesses will be able to attract more customers who are ready to invest in their offering.
How to Build Trust With Your Customers
Now that we’ve discussed the importance of customer trust, let’s take a look at a few ways businesses can begin to establish trust with their customers.
Excel at Customer Service
One of the best ways to build trust with your customers is to excel at your customer service. If you want your customers to believe that you are worth investing in, you need to put them first by cultivating the best customer experience.
This means having a dedicated support staff, providing quality service, and being ready to listen to your customers to understand their needs and concerns, enabling you to continuously deliver a positive customer service worth remembering.
Leverage Customer Reviews and Testimonials
There’s no better way of building trust with your customers than to provide proof. No matter what kind of brand reputation you’ve built, consumers naturally want to hear from other consumers before making a decision.
To best leverage customer reviews and testimonials, be sure to make them accessible. You can post your best reviews and testimonials on social platforms, your website, and anywhere else your customers will see them.
Put Your Customer First
When it’s all said and done, how well you establish trust will depend on your ability and willingness to give your customers what they need. This means ensuring your business has a customer-centric culture and that businesses are constantly evaluating and adapting the company to serve the needs of the customer.
Ultimately, this goes beyond providing a positive customer experience. Businesses need to understand who their customers are, make decisions that positively impact customers, and develop quality products and services that address pain points.
Building a successful business is a marathon, but drive, determination, and a business growth mindset can make it happen. If you’re a business owner looking for a well-rounded, consistent, and fluid approach to growing your business BrandCraft can help with that. We are your dedicated marketing agency focused on enabling growth through personalized strategies and proven marketing tactics.