How can you make brand trust work for your business?

How can you make brand trust work for your business?

It matters how people perceive your business. This doesn’t only impact your business reputation. It can also impact your bottom line.

People prefer to shop at an online store that they trust and know. 81% say they only shop with brands they trust.

Let’s look at best practices to build trust with customers and establish lasting, mutually beneficial relationships.

What does brand trust mean?

Brand trust is a measure of how confident customers are in your business. This is how confident customers are in your brand.

5 reasons shoppers trust brands:

  • Provides high quality products and services
  • Ratings and good ratings
  • Fair charges
  • Customers are treated well
  • Customer service issues are quickly addressed
Chart of important reasons why consumers trust brandsChart of important reasons why consumers trust brandsSource: MarketingCharts.com

Why building trust is important?

Are you looking for customers to keep buying your products? Are you looking for people to leave glowing reviews? Are you looking for customers to refer your online shop to their family and friends? Building brand trust is key to all this.

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  • Delivers value to customers. Which do you prioritize: your customer or profits? They will not see you as a dollar sign. While they may still purchase your product, this doesn’t encourage loyalty or repeat sales . Instead, product trust focuses on bringing value. What is your unique selling proposition? What can you do to help customers solve their problems? Identify the needs of your customers and find solutions.
  • Influences buying decisions What motivates customers to return to your brand over and over again? Trust. Trust is a key ingredient in attracting customers to your business. They will support you as long as they trust you. This will increase the customer’s lifetime value.
  • Brand loyalty. Your brand reaps great benefits when it consistently delivers on quality and reliability. Your brand will be the first to shop whenever a customer makes a purchase.
  • Brand advocates are created. Loyal customers are those who are happy. A loyal customer is a voice for your company. They are your advocates. They will promote your business and share their positive experiences with others. This form of word-of mouth marketing can be a powerful way for your business to gain new customers and build its reputation.

How to Build Brand Trust

It takes time to build trust and requires a strong brand strategy. But it pays off in the long-term. Returned customers can be worth 10 times more than their original purchase. It can be five times more expensive to acquire a new customer than to retain an existing one.

01. Provide consistent customer service

To build brand loyalty, you will need to gain trust from your audience. Every interaction with customers should be planned. It all starts when someone hears about you brand.

  • Increase awareness. Start by making a first impression. Focus on being informative and helpful, not transactional. Provide informative, engaging content using video or blogs. This will make your brand a thought leader in the industry.
  • Deliver a great customer experience. Never stop looking for ways to improve the customer experience. Create a user-friendly website. You can streamline the checkout process by using flexible payment options and quick add-to-cart features. The convenience is worth it.
  • Customers should be able to reach you easily. Customers want to contact you. If you don’t respond quickly, you can lose a potential buyer. Include contact information for your business, such as email address, phone number and physical address. An online contact form can be added. You can also set up Wix forum to build an online community for your business.
  • Transparency is key. Communicate with customers about your return policy, shipping costs, privacy policies, terms and conditions, and other details. Your customers will understand your policies if you explain them clearly. Plan ahead for any hiccups that may occur (and they will), especially when it comes to customer disputes or chargebacks.
  • Build relationships with loyal customers. We found that customers who were given follow-up emails from businesses were 42% more likely than those who did not receive them. After a purchase, make sure you stay in touch by sending follow-up emails and thank you notes.
  • At each touch point, set measurable goals. Analytics can help you monitor your success and identify areas that need improvement. Wix allows you to view site traffic and store analytics. This data can be used to gain insight into your customer experience, purchase funnel, and service. A high rate of abandoned shopping baskets could be an indicator of a slow checkout process or site loading issues.

02. Create Brand Authenticity

Authenticity is about staying true to the core values of your brand. This will help your business gain trust with customers.

When building brand authenticity, stick to these 3 R’s:

  • Quality goods and servicesReliable You will always keep your word.
  • Respectful: Put the customer first. Focus on bringing value. Always strive to improve customer experience.
  • Real: Speak with your customers in a natural, human voice. It should feel natural and conversational. To improve customer service, global businesses can offer services or localization in other languages.

03. Share your business values

Trust is built on two elements: competence (delivering what you promised) and ethical behavior.

You must provide excellent customer service and a high quality product. However, corporate responsibility, sustainability and privacy are all important now more than ever. 86% want companies to be socially responsible, and 66% would rather spend more on products made by sustainable brands.

Younger shoppers are particularly interested in business values. The U.S. spends $350billion on customers aged Millennial and Gen-Z. These customers are increasingly aligned with their shopping habits. They choose brands that align with their values, and steer clear of those that do not.

Customers today want a brand that is:

  • Privacy and data security
  • Promotes environmental impact
  • Prioritize the customer over profits
  • Social wellbeing and ethical supply chains supported
  • Donate to charities and social causes

Find your cause. Get involved. Let your customers know. You can see how Adidas posted its sustainability program End plastic waste or Starbucks publishing its social impacts.

These are some of the ways you can get started:

  • Make a brand mission. Be clear about what you stand for.
  • Promote your cause on your site and social media.
  • Blog articles on your brand’s values can be published
  • Collaborate with local influencers and charities that share your values.

04. Word-of mouth can help you build your reputation

Satisfied customers talk. They leave online reviews that are positive. They use branded hashtags to tag photos. They create videos with your product. They refer your company to their friends.

Peer-to-peer marketing is a winning strategy. According to research, 92% shoppers trust peer recommendations. A satisfied customer will typically share 11 of their positive experiences with others. You can multiply that number by thousands to increase your brand loyalty and customer retention.

Encourage social proof and sharing to tap into this potential. Your customers will recommend you if you offer a high-quality product or service. Get loyal customers to talk up.

  • You can provide a place for visitors to leave feedback on your site.
  • You can post testimonials to your website or social media channels.
  • Find influencers within your industry who have a large following. These people can be brand advocates and help promote your products.
  • Use branded hashtags, giveaways, and contests to encourage user-generated content in social media.

Looking for inspiration? You can find inspiration at Starbucks’ #WhiteCupContest. Starbucks invited fans to create their cups and then share them on Twitter using branded hashtags.

Starbucks campaign #WhiteCupContestStarbucks campaign #WhiteCupContestSource: WebDevs.com

Naked wines will show you how it’s done. To build brand loyalty, the online wine retailer places emphasis on consistent customer service and authentic messaging. They are one of the most trusted brands and have seen a 67% increase in sales.

How did they do it? They speak in a warm tone and refer to their loyal customers as “Angels” They reward “Angels” with discounts on wine and access to wine-tastings in their region. Their brand is supported by millions of positive reviews and customer testimonials. They created a platform that allows customers to communicate directly with wine-makers and to support local businesses.

Now it’s your turn. Remember that a great brand serves the customer. Consider revenue and profit as the result of putting customers first. This is what makes people trust you. Your brand will attract loyal customers if it stays true to its values.

source https://www.wix.com/blog/ecommerce/2020/05/what-is-brand-trust

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