5 Ways to Build Customer Trust

One understood key to successfully launching and growing a business is turning first-time customers into repeat customers and having those repeat customers recommend your business’s products or services to their friends, family, and colleagues. It sounds like a simple concept, but many entrepreneurs struggle to master it. So how does one do it? Today we’ll be discussing one of the important factors in growing a strong and expanding customer base: building customer trust.

 

Why is customer trust important?

 

Establishing customer trust in a brand plays a vital role in whether a consumer will choose to purchase from that company. 94% of consumers are loyal to companies who operate transparently - a major factor in establishing trust between a business and its customers. Maintaining that customer trust plays just as significant of a role in whether consumers will continue to purchase from that company. 71% of shoppers say they’re unlikely to buy from a company if that company loses their trust. That being said, 83% of shoppers will remain loyal to companies that resolve customer complaints. These statistics not only demonstrate the significance of customer trust when it comes to growing a customer base, but also the importance of continuing to earn and maintain that trust beyond a customer’s first purchase.

 

So, how does one build customer trust? Here are 5 tactics you can incorporate into your brand’s approach.

5 ways to build customer trust:

 

1. Offer high quality products/services.

First things first: If you want to build a loyal customer base, you have to offer products and services that will not only bring consumers back for more, but have them recommending those products or services to people in their social circle. There’s no easier way to break customer trust and end a cycle of customer growth than by providing a product or service that doesn’t meet the expectations of what’s been advertised to your customers. At the core of your business is the product or service you offer. Make sure it shines first and foremost.

 

2. Take care of your customers.

It’s not difficult to understand that customers want to be treated like human beings, not a source of profits. Trust is gained from consumers when they feel listened to, taken care of, and like their money is being well spent. With that in mind, consider offering warranties, guarantees, and a returns/exchange policy that provides peace of mind to customers before they make a purchase. Additionally, make sure your customer service team is easily reachable and eager to help. Make it a priority to resolve problems for your customers promptly and respond to customer feedback with an open mind that prioritizes growth and improvement. On average, customers tell nine people about a positive experience with a company, but they tell 16 people about a negative experience. That being said, remember that 83% of shoppers will remain loyal to companies that resolve customer complaints. Customer trust can be broken, but it can also be regained by resolving any unpleasant customer experience.

 

3. Humanize your company.

Brands that provide an emotional connection with customers have an 85% higher growth in sales than their competitors, which means creating a human connection with your customer base can play a big role in gaining customer trust and loyalty. So how can you humanize your brand? Here are just a few ideas:

a. Show the faces behind the business - Who is the CEO and why is he/she passionate about this brand? Who are the hard working employees behind the company, and what do they like about working with this brand?

b. Share and demonstrate your company values - Does your company have a mission and vision that go beyond sales? If so, great, because 66% of consumers will switch brands in an effort to support ethical companies. Demonstrate how you’re putting that noble mission and vision into action, and share your efforts on your website and social media pages. Even if you’re not setting out to save the world, consumers are more drawn to companies that generally operate with ethics in mind.

c. Be personable and engaging on social media - Connect and engage with your brand’s followers in an organic way. Respond to comments, direct messages, and tags, and encourage friendly dialogue amongst customers on your social media pages. Social media offers an opportunity for you to connect personally with your customers - something that didn’t used to be possible to the degree it is now.

 

4. Be transparent.

When looking to gain customer trust, it’s vital to be open about how you conduct business, where your materials come from, what guarantees your company offers, what timeframe they can expect products to be delivered in, how your staff are treated, and why your company was founded, among other things. Remember, 94% of consumers are loyal to companies who operate transparently. Customers want to know where their money is going and what they can expect from their purchase.

 

5. Garner and share positive reviews/testimonials.

Over 99.9% of customers read reviews when they shop online. With that in mind, gather positive customer reviews and testimonials for your business, and showcase them on your website, social media platforms, and any other channels you’re using to sell your products or services. Having trouble racking up reviews? Consider motivating customers to write product or service reviews by offering discounts on their next purchase. In the quest to gather positive reviews, you’ll likely get some constructive feedback as well. That’s not a bad thing! 77% of consumers view brands more favorably if they seek out and apply customer feedback.

 

The concepts above are 5 tried and true ways to approach building customer trust as you grow your business. Gaining and maintaining customer trust is an ongoing process requiring dedicated time and effort, but that effort can pay off in big ways (quite literally) in the long run.

 

 

Statistics References:

“Trust: the new currency for business.” PwC, May 2022, https://www.pwc.com/us/en/services/consulting/library/consumer-intelligence-series/trust-new-business-currency.html

Barnett, Angie. “8 Statistics Show the Value of Trust for Businesses.” LinkedIn, 14 September 2021, https://www.linkedin.com/pulse/8-stats-showing-value-trust-small-business-success-angie-barnett/?trk=articles_directory

Morgan, Blake. “50 Stats That Prove The Value Of Customer Experience.” Forbes, 24 September 2019, https://www.forbes.com/sites/blakemorgan/2019/09/24/50-stats-that-prove-the-value-of-customer-experience/?sh=35e830d04ef2