Episode 2: Business Trust

Business Trust

In this modern age where customers have varied options to choose from, customer trust is the primary element that keeps your business up and running. It makes them regularly come for your products and services.

But how do you build and maintain trust?

Don’t worry, that is what I will teach you in this episode. Pay attention throughout, the information below is crucial. 

What’s customer trust?

It’s a reciprocal behavior that your customers receive from you. It’s to understand their needs critically, respecting, and fulfilling them. If you can understand what your customers need, you will give it to them. Once they can feel that you’re trustworthy, they’ll be glued to your business.

Customer Think writes that you don’t achieve trust by merely selling to the customer. Instead, you need consistency. Go live on Facebook, post regularly, and engage with your target audience on different social channels. The end result is building a good reputation and a credible brand.

Why do you need customer trust?  

What’s the result of building and maintaining customer trust?

Here are the benefits:

  •         Improves customer lifetime value (CLV)

The experience that customers have when they come in contact with your business operational environment is critical to its success. It will determine if they will return regularly or go to your competitors. What do you think makes the client continue to order your services time and time again? 

It’s trust.

The customer lifetime value is the value that a customer adds to your business within a specified period. Rather than looking for new customers –which can be expensive – why not maximize the returns from one customer by creating and maintaining trust. Trust boosts customer lifetime value.

  •         Builds brand credibility and reputation

Brand credibility is critical to success. All these big companies you see (Facebook, Google, Apple, or Amazon) rose to the top of the file because of their credibility and reputation. They had a reputation for helping solve customer challenges. As a result, customers began trusting them.

Think about it. If I assist one client in automating their lead acquisition strategy and he begins getting unlimited leads, will he not refer me to his friend having the same challenge? Most likely, he will.

Actually, I get most members to my coaching program through referrals. When one happy customer reviews your brand positively, he boosts credibility.

  •         Trust leads to fast business growth

It doesn’t matter the service or product you are selling, pleasing your customer is the end goal. If there is no customer, there is no business because there is no exchange of service or product for the money. A company is there to solve a challenge that customers have. The more problems you can solve, the more the returns.

So, your goal in business is to acquire customers and retain current ones. You can do this by solving challenges. 

But how do you keep existing customers? Add value to their lives, and they will trust you.

  •         It’s the best marketing strategy   

I bet someone – let’s say your friend – once referred you to a business that he or she worked with previously, right? Let’s say you were looking for a good landscaping company in Seattle.

You check the site and find out that it offers precisely what you wanted. But after browsing the internet for a while, you realize that other companies offer the same services at affordable rates.

You will most often take your friend’s choice because it has worked for him. 

That’s how critical trust is in marketing. Your friend trusts that company, and hence he referred you. That’s what you need to do, as well. Customer trust is the best marketing strategy.

 

How you can build and maintain trust

Now that you know trust is critical to your business success, how can you not only build but also maintain it?

Here are my honest tips.

  1.     Build genuine connections

Avoid robotic relationships with your customers. They are people with challenges that need to be solved. Don’t sell to that client you just connected with on Facebook. I hate when someone begins pitching me right away on Facebook without even establishing a connection. I often strike a conversation with a potential client before I pitch them.

Establish a relationship first.

These connections need to be genuine. They need to be valuable. Otherwise, what’s the point of connecting? Real connections bring forth trust. Trust drives revenue for your business.

I think one of the main reasons why I have achieved the fate of being an automation king is the fact that I help many people in my circle solve their everyday challenges. Essentially, I’m a tech guy. If someone is having any tech-related issues, he will always seek my recommendation because of the trusts I have built over the years. 

  1.     Always deliver what you promise

Whatever you promise to deliver in your course, webinar, or podcast, do it. If you scrub it off, you will have destroyed that trust. How will they trust you if you lied to them the last time? Honestly, most of them won’t.

There are also issues with pricing. Be clear on what you are charging them. Don’t tell them that your e-book is FREE on your ad and later ask them to pay a small fee. That will make them abandon your site.

So, always under-promise and over-deliver. When you do that, customers will learn to trust you.

  1.     Understand the buying intent of your customers

It’s not always about the money. Money is just a by-product of authentic customer relationships built on trust. If you focus more on the money, you will lose the customers. If you focus more on the customers, the money will flow into your business.

Customers buy from you because they want to solve a particular challenge.

Perhaps they want to automate their content marketing process. 

When they come to me, I will give them my content map. If I understand the intent of them purchasing from me, I will customize that and delight them.

The end result is that they will trust me and become my raving fans. That’s the same thing with your business. Understand the ‘why’ and you have the money.

  1.     Improve your social presence

Can you trust a business that has no website or social media presence? You’d most likely take some time before making a decision right?

 However, if a company is on Facebook, Instagram, or Twitter, it’s credible. Research shows that 77% of customers buy from brands they follow on social media.

Most businesses began by having a simple Facebook page. They engaged with their customers there and later built a site. The good thing about it is that it’s free. You can start a business Facebook page in a few minutes and build trust with your prospects.

Once I began increasing the time spent on social media, I have never stopped getting leads. 

I would often go live, bring experts on specific topics on board, and engage with the wavemakers.

Verdict  

I hope this post has helped you to understand the essence of trust in your brand-building process. I have noted that with consistency and following the tips above, you can build and maintain business trust. As a result, achieve business goals much faster.

One love.

ONE LOVE, BIG MARV

ONE LOVE, BIG MARV

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