Studies have shown over and over again that consumer trust is one of the main reasons for purchase decision making. Think about it. If you are on a couple of sites looking at the same product, you are likely to buy from the site that has brand awareness.
Prices might be cheaper elsewhere, but what’s the likelihood that you’ll receive your product and what service will you be getting?
Below is a brief guide that can help your brand build a strong reputational capital in the long run:
1. Know your brand’s trust-goals
You need to decide what it is that you want from your customer engagement. More positive reviews? Loyal customers? Do you want them to recommend your brand to family and friends?
Define what brand trust means to your organization and what success looks like. Take note that these goals need to be measurable and monitored on a frequent basis to ensure you stay on track.
2. Get yourself a brand trust lead
Your brand’s trust lead is solely responsible for your brand’s goals and vision. Your trust lead should be constantly monitoring how the brand is being perceived and implement strategies to go about achieving consumer trust.
This person should also be engaging with your online audience and serve as a touchpoint between consumers and the brand.
3. Create an authentic brand story
Authenticity is the heart of trustworthiness. Modern consumers aren’t interested in sales pitches, fancy marketing lingo or the features and benefits of your brand. They want to know who your brand is and what it stands for, so they can align with the core of your brand or skip over to the next one if it’s not for them.
Authentic storytelling is a gift that has captured humans for millennia, use it to engage with your audience and build their trust. Another helpful tip would be to develop your brand narrative. Take FNB, for example, their brand narrative is all about how they can help you! When they do, they’ve fulfilled their promise to you, resulting in consumer trust.
4. Focus on consistent customer experiences
Customer service and after-sales are critical for any business. By fully understanding the customer journey on your site, you can provide customers with a personalized experience. By giving them a consistent high-end experience you show your customers that you know and understand them, leaving them feeling like they can truly engage with your brand because you care!
The better their experience with your brand, the easier it becomes to gain their trust. According to research conducted by PwC, 73% of customers reported that customer experience drives purchase decision-making. Shockingly enough only 43% of brands actually deliver on their promises of excellent customer care.
5. Focus on nurturing relationships over conversations
Businesses tend to over-fixate on driving conversation, however, those who focus on cultivating relationships with their consumers will collect the dividends in the long run. Research has shown that 56% of consumers are more loyal to brands that ‘get them’.
This can only be achieved by understanding your customer’s priorities and preferences. Leading brands have taken the time to fully understand their intended market to better deliver personalized experiences.
Reputational capital essentially comes down to the perception and trust customers have in your brand. If you don’t have it, it’s more than likely that customers will go elsewhere. Building reputational capital means being open and honest, delivering on your promises and taking accountability when things go wrong.
A single action can lead to a big disaster so stay within your promise capabilities. Any brand that under-promises and over-delivers will capture the hearts and minds of customers. Your brand will be seen as credible therefore more trustworthy. Only then can your brand truly compete with the industry giants.
If your business can benefit from an increased brand awareness get in touch with us today. Our team of digital marketing experts can help you garner the consumer trust your brand needs to thrive and effectively compete in your industry.