With consumers trying to cope with information overload – you will increase B2C sales with long-term customer loyalty – if you build trust by using best practices.
It might be an obvious approach, but it’s confirmed by a 2012 study that shows 84 percent of the respondents declared trust must be warranted before they buy. Years later, trust is still important. Count on it.
The essential elements for trust and best practices are contained in the study, “The Trust Factor,” by About.com.
“By understanding how consumers view trust and what they value most, marketers can tailor their outreach to deliver meaningful information and tools to create authentic, long-lasting relationships,” wrote Laura Salant, director of research at About.com.
Key elements for trust-building
“With the high volume of information at consumers’ fingertips, not only is trust a valuable filter, it is a prerequisite for consumers to even enter the purchase funnel,” said Ms. Salant. “By understanding how consumers view trust and what they value most, marketers can tailor their outreach to deliver meaningful information and tools to create authentic, long-lasting relationships.”
— Respondents reported that all 10 trust elements are even more important on mobile than online. Format was identified by 71 percent of respondents as being more important for mobile, with accuracy and expertise also ranking highly.
— In social media, consumers are ambivalent about the value of certain commonly-used social actions such as “likes.” Reviews were identified as inspiring trust twice as much as general “likes,” though seeing a “like” or recommendation from a friend increased the trust value of that action.
— Video works best to enhance trust when it is combined with other types of content. Fifty-six percent of respondents agreed that video builds trust when it adds illustration or explanation attached to other types of content.
The study reveals the importance of networking sources of trust: 82 percent “use information from brands, content, ads and social media to create custom solutions for what they need.”
It’s recommended that brands “treat consumers as partners, not customers.
“Whoever is careless with the truth in small matters cannot be trusted with important matters.”
Suggested best practices:
— Acknowledge and respect consumers’ processes for evaluating and making decisions. Eighty-five percent trust brands that walk them through multiple paths to decisions, rather than just giving an answer.
— Support consumers after they purchase. The relationship shouldn’t end with a credit card.Sixty-two percent of consumers trust brands that provide information and tools to help them use products they have purchased.
— Demonstrate an understanding that consumers’ lives change.Eighty-three percent trust brands that offer resources every step of the way, as a consumer’s needs evolve.
— Build engagement by using every opportunity to solve consumers’ large and small challenges.Eighty-five percent trust brands that use ads or sponsored content to inform or help them with a need.
From the Coach’s Corner, related reading:
Think 1930s for Business Success. Consumer Attitudes are Changing. — Whether you’re a new or established business, it wasn’t that long ago that a strong Internet presence meant having a great Web site with a top ranking. Partially, that’s still true but the competitive marketplace continues to rapidly change daily, which means the No. 1 objective should be a vibrant, integrated presence. That is, unless you’re in a very narrow niche, what matters most is your total Web image – your Web site is merely an important secondary consideration.
B2B Telemarketing: Building Trust Should Be Your Goal…Here’s How — Telemarketing is, of course, a challenge. You must create a favorable first impression in your initial approach. This means building trust should be your primary goal. Sure, it’s a nerve-wracking process, especially because you have just a few fleeting moments to engage your prospects. Yes, you’re calling to make sales. Again, you’ll greatly enhance your chances if you focus on building trust.
Profits: Size Doesn’t Matter but Image, Professionalism Count — Appearances and professionalism can make your small business seem huge. If you look as though you’re substantial and that you can handle anything thrown your way – your odds for success improve dramatically. That’s especially true in this economy. Clients and customers will often prefer dealing with you as a small firm – if the job doesn’t appear too big for you to handle. So it’s best to look the part.
The Key to Internet Dominance: Think Integration — Whether you’re a new or established business, it wasn’t that long ago that a strong Internet presence meant having a great Web site with a top ranking. Partially, that’s still true but the competitive marketplace continues to rapidly change daily, which means the No. 1 objective should be a vibrant, integrated presence. That is, unless you’re in a very narrow niche, what matters most is your total Web image – your Web site is merely an important secondary consideration.
Sales, Networking Strategies to Build Strong Relationships — Sometimes, we have to visit our past as lessons for our business future. Is it your experience, too? When doing some cleaning, I came across some treasures from my high school years. That included a carbon copy of a thank you letter I wrote to the publisher of The Desert Sun newspaper in Palm Springs.
“Suppliers and especially manufacturers have market power because they have information about a product or a service that the customer does not and cannot have, and does not need if he can trust the brand. This explains the profitability of brands.”