Customer trust serves as the foundation for any healthy and meaningful relationship, even in business. When customers trust your brand, they’re inclined to make repeat purchases and become enthusiastic brand advocates.
However, the process of building trust with customers demands transparency and consistent efforts.
As your reliable online reputation management consultants, we tackle the following topics to help you get started:
- What Is Trust in Business?
- How To Build Relationships With Clients
- Why Customer Trust Is Important
- How To Build Trust With Customers
What Is Trust in Business?
Trust is the foundation for building customer loyalty and driving repeat purchases. Research shows that 67% of consumers must trust a brand before they continue purchasing its products or services (Edelman). Without trust, consumers are prone to switching to other brands for better experiences and offerings.
When customers trust your brand, they’re more likely to engage with it longer. In fact, almost 65% of a company’s revenue comes from repeat customers (SmallBizGenuis).
In reality, having the best product or service in the market is insufficient. You need to cultivate a positive and trustworthy brand image to build long-term relationships and drive continuous sales growth.
How To Build Relationships With Clients
Establishing strong client relationships demands three essential qualities:
1. Empathy
Empathy involves comprehending and being sensitive to another person’s emotions and experiences. Demonstrating genuine care for your target market’s needs and feedback can build customer loyalty and set your brand apart.
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Adopt Customers’ Perspective
Step into your customers’ shoes and comprehend their challenges, motivations and end goals. Unveiling the root causes of their concerns allows you to craft tailored solutions and build customer loyalty.
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Be a Good Listener
There are several ways to listen to customers’ needs. You can collect feedback through surveys or use social listening tools to monitor online conversations in real time. This includes social media platforms, forums, blogs and other online communities where customers discuss their experiences.
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Avoid Assumptions
Assuming things can cause confusion, creating a gap between what you perceive and what the customer is actually saying. Asking questions and gathering reviews show a sincere commitment to improve customer satisfaction.
2. Transparency
Transparency means being open and honest about your company’s processes, values and performance. In the era of misinformation, brands that practice transparency can easily build customer trust, which in turn can drive sales.
- Be upfront about pricing, contract terms and service or product inclusions. Avoid hidden costs or surprise charges.
- Hire online reputation management experts to update your website and social media channels with the latest information on product availability, inventory and policies.
- Admit mistakes and be open to negative feedback or criticism.
3. Accountability
Accountability involves taking ownership of your decisions and their outcomes. When customers can rely on a company to meet its promises and obligations, they’re more inclined to be loyal advocates.
- Address internal challenges or external factors affecting the business
- Respond promptly to customer inquiries, concerns and complaints.
- Safeguard customer data and ensure compliance with privacy regulations.
- Establish clear and fair policies regarding shipping and returns.
- Perform regular audits to assess compliance and performance.
Why Customer Trust Is Important
In business, customer trust is not only an important thing – it’s everything. Without trust, there’s no audience. Without an audience, there’s no business.
Here are reasons that make customer trust integral to your success:
1. Boosts Customer Retention
Building trust with customers is key to retention, which is often cheaper than acquisition. Research shows that improving retention by just 5% in financial services can increase profits by over 25% (Bain & Company).
Repeat customers often buy more from a company over time. They’re also happy to pay extra to continue doing business with a brand they trust instead of switching to an unfamiliar competitor.
2. Supports Word-Of-Mouth Marketing
Building client trust can reduce marketing costs since satisfied customers are more likely to refer your company to others. According to The Nielsen Company, 92% of consumers globally believe recommendations from friends and family more than advertising messages.
3. Ensures Resilience During Challenges
In moments of crisis, customer trust serves as your secret weapon for weathering the storm and accelerating recovery. A loyal customer base is more likely to remain supportive, setting the stage for renewed growth and stability.
4. Creates a Positive Brand Reputation
Building client trust influences brand perception. In fact, consumers read an average of seven reviews before trusting a business (Reputation X). As happy customers share their experiences, they actively contribute to shaping a positive brand narrative, attracting more potential customers and conversions.
5. Increases Employee Morale
A business trusted by its target market often cultivates a positive internal culture. Employees are more inclined to invest their energy and time in the business, resulting in a more engaged and productive workforce.
6. Attracts More Partnerships
Reputable businesses draw in more collaborations with other brands and influencers.
Partnering with influencers can unlock doors to lucrative growth opportunities. In fact, a HubSpot survey reveals that 31% of social media users prefer discovering new products through influencers rather than other social formats or channels.
Consider teaming up with an online reputation management company like Rize. We can help you create a strong and credible brand image that attracts more growth opportunities.
How To Build Trust With Customers
While challenging, the good news is that building trust among your audience is very much a doable aspect of brand promotion. Here’s how to get started:
1. Give Your Loyalty Programs a Unique Twist
Existing customers are 50% more likely to try new products and spend 31% more than new customers. Nurturing and investing in these relationships through rewards programs can lead to increased revenue.
Traditional loyalty programs offer exclusive discounts and early access to products. With today’s markets becoming increasingly competitive, why not think outside the box and raise the stakes?
For instance, The North Face’s VIPeak program lets members redeem their points for adventures and expeditions worldwide. Loyal customers get to join thrilling climbing experiences and camping packages in national parks.
Another brilliant example is Stake’s rental loyalty program. Users are refunded up to 5% of each rent payment, deposited directly into their personal account, as long as they pay on time.
By crafting unique loyalty programs, you sustain the trust of existing customers and attract new ones.
2. Don’t Delete Negative Feedback
Not all negative reviews necessarily harm your brand, especially when constructive feedback is expressed politely. In fact, 96% of consumers actively seek out negative reviews to gain a more balanced understanding of a product or service.
Remember, no business is perfect. Embracing negative reviews allows your brand to identify and address weaknesses. Moreover, displaying a mix of positive and negative feedback showcases transparency and authenticity, which builds customer trust.
However, reviews containing unpleasant or offensive language warrant removal. Online reputation management consultants can help monitor reviews and decide which ones to keep or remove.
3. Promptly Respond to Customer Reviews
53% of customers expect businesses to address negative feedback within seven days (Search Engine Journal). When responding to reviews, always go back to the three qualities mentioned earlier: empathy, transparency and accountability.
Moreover, 56% of consumers alter their perception of a business based on how it handles reviews. Enlisting the help of online reputation management experts can help you craft timely responses that mitigate damage and build customer trust.
4. Humanize Your Brand
To build customer trust, you need to be authentic. Consider using your social media channels to craft a relatable and genuine brand image. Actively engage with your audience through likes, shares and comments.
Enhance transparency by sharing behind-the-scenes content and posting customer testimonials. You can also host live webinars or Q&A sessions to showcase your brand story and create more personal connections.
Partner With Rize Reviews: Your Trusted Online Reputation Management Company
Building trust with customers is an ongoing process that demands time and consistent effort. Let Rize’s online reputation management consultants help you establish a consistent and trustworthy brand image across platforms. We specialize in review management, social media follower growth and online reputation repair.
Book a consultation with our online reputation management experts and build customer loyalty in no time.
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