If you’ve ever wondered how brand trust is affecting your bottom line, this article will help clear things up.
Survey Monkey, a leader in global survey software, recently released the results of their survey on how trust affects consumer purchase decisions.
If you’ve never really paid much attention to brand trust, this report shows that it’s no longer a nice-to-have.
Survey Monkey CEO, Zander Lurie, stated that businesses that failed to establish trust in 2018 and beyond were going to lose customers to brands that could– it’s as simple as that.
The results of the study indicated that 65% of survey respondents would only purchase from brands they trust, with 90% of respondents saying that brand trust was even more important when it came to financial services or medical expenses.
60% of respondents also indicated that they trusted recommendations from family and friends more than influencers or celebrities.
Another report by invesp showed that brand trustworthiness carried the most weight amongst consumers, followed by creativeness and intelligence. The report also showed that 59% of consumers prefer to purchase new products from brands that are familiar to them.
Basically, trust and word of mouth have become more powerful and impactful than ever before.
Brands that want to boost their revenue and stand out from competitors would do well to place a greater emphasis on building more trust in the marketplace.
If you’re ready to boost brand trust as well as your revenue, here are a few tips that you can start applying.
When customers know what to expect from your brand, you automatically generate more trust. Keep everything from your brand colours and personality to your tone consistent if you want to be seen as credible. To ensure that your entire team is being consistent, it helps to create a branding guide that covers aspects such as styling as well as brand personality and tone.
Today’s consumers want to build relationships with brands they love so the more that you can provide them genuine engagement, the more trust you will create. Conversations with your customers should never be forced or false either. Only respond when it makes sense and if you can provide a tailored response that reflects your brand’s personality. It’s also important to have an active presence on social media and show customers that you are engaged.
If you will be sharing third-party content and links on your website or social media pages, make sure that it links to a reputable website. If you want to offer users a quality and credible experience, you should only be associating your brand with other top-notch websites and resources. It’s also best to tell users exactly where they will be clicking through to.
If your brand has an online presence, chances are content is a core part of your strategy and online marketing efforts. Brands that share high-quality, valuable content are the brands that consumers trust. Only 20% of your content should be promotional, the rest should add value to the lives of your customers, both new and existing. Do a little competitor research in the process to see where you can fill in some valuable content gaps in your sector.
A report by AdWeek showed that 76% of millennials trust content shared by real, everyday people more than content that’s shared by a brand. By encouraging more user-generated content, you can give your brand an extra credibility boost because it gives new customers a look at how others are interacting with your brand as well as your products and services. Social media is one of the best platforms for generating and promoting user-generated content.
Webinars, as well as live demos and Q&A sessions, are some great options for building more brand trust online. They might require some extra planning but live events can be incredibly valuable. Not only do you give your target audience the chance to get to know the people behind your brand but it also gives you the opportunity to get direct feedback from consumers.
Brands that are known to be socially responsible are seen as far more credible than brands that aren’t. Today’s consumers actually expect brands to be socially responsible so share your efforts in a fun and engaging way, no matter how small if you want to generate more brand trust.
This is where word of mouth comes into play again. By encouraging customers to leave reviews, you’re giving potential customers the feedback they need to make a purchase decision. Even negative reviews are not a bad thing, provided you respond to them in a timely manner. By responding to both positive and negative reviews, you’re showing customers that you’re transparent and willing to make changes to keep them happy.
Today’s consumers are no longer willing to simply trust everything that brands say, they want to know that other consumers trust their products and services too. Brand trust can be one of your most powerful marketing tools and it should be a core focus as you move into the New Year.