Running a successful business requires a unique set of skills and experience. Many tasks can be broken down into simple equations. Ordering inventory, dispersing labor hours, and finding the right price points are logic-based endeavors.
However, all your calculations will be off if you don’t account for brand trust. According to a study from PWC, 80% of customers care more about friendly service, knowledge, convenience, and efficiency than a price tag. Read on to leave five components of fostering trust in your brand.
Model your brand values
One of the first ways to develop trust among your consumers is to model your brand values. These are at the core of your business, as explained in detail here. Essentially, the values of your brand inform how you conduct all facets of your business, especially in terms of customer service.
Perhaps you run a produce market. One of your values is supporting local businesses and farmers. To model that value, your business should stock locally-sourced produce. As the face of the company, you should also be seen shopping in your own market and other small businesses nearby.
Provide responsive communication
Another factor of brand trust comes from how you communicate with your customers. We use the word responsive here. In general terms, you need to respond to customer inquiries, concerns, and compliments in a reasonable amount of time.
But you also need to be responsive, receptive, and amenable during communication. Make it a priority to really listen to their concerns. If they bring up negative and frustrating experiences, don’t sweep that under the rug. You can acknowledge their perspective while asserting the stance of your company, if necessary.
Be a dependable leader
Dependability is about showing up when you say you will. One way to demonstrate this is to be within reach of your customers. Hand out business cards listing the contacts you use for work. (Check this out if you don’t know where to start).
You should also honor the business promises you make. How would this look in action? Imagine that a customer orders an item but decides to return it for a full refund. If you’ve stated on your website that you guarantee 100% money back on refunds, you need to stick to that promise.
Share your experience and expertise
The head of a brand is expected to be an expert – which you are. By developing your brand and solving challenges along the way, you already have more knowledge about your niche than the majority of your customers. Be willing to share that expertise.
How you accomplish this will depend on the type of business you run. One option is to rely on social media. Perhaps you have accounts for your business across Facebook, Twitter, and Instagram. Use those spaces to share relevant news or tips based on your experience.
Deliver a high-quality product
This final piece to brand loyalty is probably the most obvious: deliver a high-quality product. It can’t be understated. The products and services you offer are the embodiments of your company values, your expertise, and your dependability.
That’s not to say that mistakes will never happen. However, consumers are quick to lose trust in a brand that underdelivers. Consistency and quality are key. On the plus side, if you foster trust in your brand, then minor hiccups are less likely to affect that foundation of trust and customer loyalty.
You have a lot on your plate, and many decisions to make each day. Keep the importance of brand trust at the forefront of your mind. If you choose to consistently focus on what’s best for the customer, you’ll have a thriving business. Do you want us to help you in Fostering Brand Trust, feel free to contact us.