As greater access to personal information changes how consumers interact with brands, companies must invest in building trust to outpace their competition. Simply put: customers don’t want to use brands they can’t trust. And, with consumer trust dropping to barely 43% last year, finding ways to reassure your customers should become a top priority.1
Here are the top three ways you can build consumer trust:
In today’s age with data breaches and consumer information being sold to third party vendors, your customers want to know if they can trust you with their most sensitive data. Clearly displaying your privacy policies and outlining how you will both store and use their information is important to build trust. In addition, making it easy for customers to opt out of emails and easily change their account settings is also part of consumer transparency. When you make it difficult to downgrade a service or take away the control a consumer has over the marketing messages they receive, it strips your brand’s credibility. As consumers become increasingly frustrated with the freemium model, giving consumers more control over how they interact with your brand is essential in building that brand relationship.
You want your value proposition to come through in your marketing so your customers know what you offer and what to expect. However, overpromising and under-delivering can be the crippling combination that leaves your customers frustrated and likely to go elsewhere. In fact, when surveyed, over 50% of consumers, across all age groups, said that when a brand does not live up to their promise, they never do business with that company again.2 That means, if you’re not careful, you could be losing customers because of your inability to fulfill your brand promise. To avoid this, it is critical to make sure what you promise is actually what you can deliver.
In today’s digital age, online reviews are often the key indicator of the trustworthiness of your brand. For new customers, they want to be able to see and read the experiences that other customers have had with your business. With so many online review capturing services like Yelp and Google reviews, collecting reviews to showcase online is easier now than ever. And, when you don’t have any reviews visible, it leaves the consumer wondering if they should take the risk. The key is to encourage and enable all of your customers to leave open and honest feedback. Don’t be worried about receiving negative reviews. If you do, this is your time to show your wider audience how you respond and handle criticism. Research shows that 67% of consumers want to see a mix of negative and positive reviews in order for them to trust a brand.3 The more reviews you have can also give you more credibility, especially for consumers that may not have purchased from you before.
With so many options to choose from, consumers are now using brand trust to guide their purchasing decisions. For brands that invest in building a solid relationship with their customers, this change in consumer purchasing behavior could serve to give them an unshakable advantage.