This is a contributed post by Ellie Jo about small businesses building customer trust.
Trust is not given, it is earned. This goes for every level of the client/customer relationship. This works both ways of course. For instance, a company that trusts a client may allow them to buy now and pay later. Or because that client pays on time all the time the small business may extend them a line of credit with their business.
This just goes to show that trust could be considered the most tangible out of non-tangible assets to grow and cement in their business planning. To build a business where you can trust a client you too need to be a business that has earned customer trust.
It’s important to give our potential customers every reason to trust you in the first place. If you can achieve that, then they’ll be much more likely to prove themselves as loyal customers. Then that relationship can progress to the ideal mutual trust mentioned above. But how do we achieve those first steps? Let’s consider that, below:
Perfect Your Messaging
It’s important to be vitally clear about your business. Share its history, how it was inspired, and the products or services it deems important. It’s very easy to think that among so much competition, your business history and story doesn’t really matter. It does matter. People need to believe in you before they give your product a try. They need to believe in you before they trust you with their financial and personal information. Be sure to pay attention to your marketing and branding.
Thoroughly Evaluate Your Products Before Launch
Ultimately, actions speak louder than words. This is emphasized by the success (or potential failure) of your product launch. This is why tech companies spend so much time using the best test automation software to make sure their product runs well and can withstand any issues. Their scripts are capable of identifying issue before an actual end user. When we treat our users like they’re paying for the privilege of testing our product, they’re bound to feel annoyed.
Manage Accounts Responsibly & With Gratitude
It’s crucial for you to make sure that the financial information you’re given is encrypted, and that you handle it as responsibly as you possible can. Without that ability, many will, quite rightly, ask why they’d ever trust you with another purchase. Think of the reputational knocks that can come against large firms when they suffer a data hack. Now think of how that could knock your own firm into irrelevance. When you understand the value of your approach in this way, you’re so more likely to use the proper managed IT services, to invest in cyber-security training, and to make sure your staff never let human error put your systems at risk.
With this advice, we believe you can give your potential customers every reason to trust you.
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.