This is a contributed post from Susan.
More than ever, today’s consumer wants brands they can trust. The best part about gaining customer trust is that you will be rewarded with loyal customers. In this post, we’ll go over five simple ways to earn your customers’ trust.
Why Does Customer Trust Matter?
Establishing trust with your customers is one of the most important things a business can do. Trust is an absolutely critical component of successful business operations. It is important to remember that trust takes time and commitment to build. It cannot be rushed.
Trust is vital for small businesses where customer loyalty and word-of-mouth referrals are paramount.
Five Best Ways to Gain Customer Trust
Spending adequate time and planning strategies to help build customer trust will be well worth it in the long run when you are rewarded with happy, long-time customers.
Tip #1. Be Open and Honest
Authenticity and transparency are crucial elements consumers look at when deciding whether to use a certain brand, item, or service. We’ve all heard it before; honesty is the best policy. This holds true when it comes to building trust with your customer base too.
Trust must be earned through long-term honesty. Start by giving your customers all the information they need to make an informed decision. This may include clear and transparent pricing, ingredients, sourcing practices, limitations, or any other information necessary. Be as transparent as possible.
Did you know that 73% of consumers report they are willing to pay more for products that offer complete transparency?
An image or reputation is easily destroyed by word of mouth, customer reviews, and bad press. Make sure all information your company releases has been triple-checked to ensure accuracy, transparency, and truth. The last thing you want to get accused of is false advertising or not delivering on promises.
Tip #2. Use Video Testimonials and Reviews To Gain customer Trust
Creating video testimonials is a unique way to build trust with your customers. This encompasses the power of storytelling, which is known to attract customers and gain their trust.
Consumers trust unbiased opinions of other consumers just like them more than reading generalized statements created by your company.
Adding specific video testimonials to your company’s website can help assure new customers of the quality of your services. If a consumer is truly satisfied with your services, they will make a great candidate to be a part of a video testimonial.
You may also consider adding written testimonials or reviews to your website. Make sure these are real customers’ language and not scripted or staged.
Tip #3. Provide Genuine Customer Service
Customer service applies to every business, no matter what service or product is offered. Not only is providing excellent customer service essential, but it is essential that your consumers receive it as genuine rather than forced or staged.
Create company policies and missions, and hire people who align with best customer service practices who put the customer first. When an assignment is established, and you hire the right people to carry it out, there’s no need to worry about it coming off as phony because it won’t be.
Aim to provide efficient, professional, and personable customer service as another way to build customer trust. Consumers always remember companies that went above and beyond to provide exceptional customer service, and they can’t wait to tell their friends, family, and often entire social networks about it!
Tip #4. Use Social Media to Your Advantage
You may wonder how social media could possibly help with customer trust? Social media helps reinforce all of the above-mentioned points. You can use social media to be more transparent and communicate with customers about products and manufacturing. It also familiarizes clients with your brand and its values through engaging videos, pictures, and other posts.
What’s more, consumers worldwide utilize social media to learn more about a business as a first step. Social media pages should provide a good “snapshot” of who and what your company is all about. It should convey transparency and credibility. This can be done by posting recent company news, customer testimonials, images, videos, etc.
Tip #5. Know Your Customer
Trust is a two-way street. And there’s a way to ensure it happens from all sides.
In today’s day and age, many consumers are wary of purchasing online with new businesses because they are unsure of their cybersecurity practices, data protection and don’t want to fall victim to hacks and breaches. Know Your Customer, also known as KYC, is a process used to verify the identities of customers and find out what fraud risks they pose.
KYC’s premise is that by performing identity verification, reviewing their financial activities, and assessing their risk factors, you get the chance to really know your customers and keep money laundering, terrorism financing, and other kinds of illegal activities at bay.
In Conclusion: Gain Customer Trust
Customer trust is essential — especially in today’s climate. But, the good news is, with some time and preparation, you can be on your way to securing customer trust in no time.
Greg is a Chartered Financial Analyst (CFA) with 22+ years experience in Financial Services. He has held numerous FINRA Securities licenses (series 7, 63, 65, and 66), and is an expert on Investment Products and Financial Planning. Greg has 22+ years experience as a real estate investor and degrees in Psychology and Philosophy.
Greg has been quoted/interviewed in Yahoo Money, Yahoo Finance, USA Today, Authority Magazine, Realtor.com, Business Insider, and others.
Greg is an avid runner, and the father to identical twin girls and their awesome brother. His love of budgeting and his kids led him to join The Great Resignation in 2021.
Disclaimer: Any Financial Tips on ChaChingQueen are general and informational. Speak with a professional about your specific situation.