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What are some of the factors which define a successful brand? Common answers will include quality products, targeted marketing campaigns and personalized customer service solutions. However, it is just as important to remember that transparency is also crucial and this arises from building trustworthy relationships. A staggering 81 per cent of individuals who participated in a recent survey stated that trust was the deciding factor before committing to a purchase. What are some of the reasons why building trust is crucial in this day and age? Let’s examine a handful of interesting observations. 

Defining Brand Trust

It is first wise to take a look at what is meant when referring to a trustworthy brand. This notion can be broken down into three separate facets:

• Respect and inclusivity
• Openness and honesty
• Empathy and caring

Simply stated, consumers have become extremely conscious regarding the types of firms they wish to be associated with. Even those who offer high-quality products or services may therefore remain anonymous if they are unable to build a sense of mutual trust and rapport. This is also why businesses of all sizes (particularly new ventures) need to develop a much more proactive approach. 

Online Impressions Matter

Word of mouth can make or break the success of any firm. Assuming that a customer is happy with the service that he or she received, the chances are high that these feelings will be made public. Unfortunately, this is just as relevant regarding those who post negative feedback based on their experiences. Simply stated, developing a mutual sense of trust increases the chances that visitors will provide positive feedback and encourage others to examine the firm in greater detail.

This is even more important when referring to “organic” sales channels such as social media circles. Not only are these great ways to develop leads, but client reviews will help to accentuate what factors enable your organization to stand out from its competitors. 

Cementing Customer Loyalty

Modern consumers can be quite fickle about the brands they choose to interact with. This is why generating a sense of long-term loyalty is paramount to success. Not only will this steadfast commitment help to ensure future purchases, but individuals will begin to represent advocates for the brand in question. This can be thought of as a passive form of influencer marketing; an excellent way to ensure repeat purchases. Let’s also remember that loyal customers will generally be much more receptive to future sales and marketing campaigns. 

Superseding Waves of Uncertainty

It is a foregone conclusion that we live in challenging social and economic times. During periods of flux, consumers always search for a brand that represents transparency and stability. Fostering a notion of trust is therefore crucial if you hope to retain your client base. From unpredictable markets to global health crises and political upheaval, humans always want to rise above perceived volatility. Trusted brands represent a beacon of hope and familiarity; two psychological traits which will not go unnoticed in the eyes of the public. 

Competition is Rife in this Day and Age

As hinted at previously, businesses are facing stiff levels of competition throughout the online community. New ventures are coming to light daily and as a result, consumers have more options than ever before. This is much different when compared to the times when shoppers had no other choice than to frequent a single grocery store or purchase goods from a local hardware outlet. The Internet has all but ablated these geographical restrictions. 

Therefore, establishing trust can help to stave off potentially formidable competitors. The B2B and B2C communities provide consumers with hundreds of different options, so it pays to remain one step ahead from the start.

Doing Away with Traditional Sales Tactics

As this LinkedIn article rightfully observes, consumers have become jaded by generic and outdated sales pitches. These impersonal approaches will inevitably fall upon deaf ears and they may even damage the reputation of the brand itself. Obtrusive and/or impersonal advertisements will hardly engender trust. 

This is why businesses need to generate marketing campaigns based on the needs of the individual as opposed to satisfying SEO concerns alone. Consumers who feel that a certain strategy resonates with their personal needs will be much more receptive to what is being offered. Once again, we can see why trust is critical within such a fluid sales atmosphere. 

Buyers Have Greater Control of the Sales Process

Much to the chagrin of sales representatives, consumers have a greater degree of control over what it is that they choose to buy when compared to past scenarios. While client engagement is still very important, this only represents the tip of the proverbial iceberg. 

It is now easy for an individual to perform an online search to obtain an impression of a company. User reviews are only a click away and even the appearance of a website can have an impact on overall conversion rates. These are some of the reasons why nurturing an interpersonal rapport can work wonders. If negative feedback happens to be discovered, loyal customers will be much more likely to take such opinions with a grain of salt. This is certainly not the case when referring to firms that have not been able to embrace an innate sense of transparency. 

Brand Trustworthiness: The Key to Success

Of course, trust will not be created overnight. Time and effort are both required if you hope to establish a positive brand reputation. This is why even large organizations spend a great deal of time analyzing their client base to better appreciate what actions will resonate with specific audiences. 

When we consider that 66 percent of consumers prefer brands that exhibit authenticity, the power of trust becomes clear. The only question remaining involves whether or not business owners are willing to take the steps necessary to rise above the masses. As the average customer becomes even more aware of his or her options, there is no doubt that this level of transparency will take on greater importance than ever before.