In today’s highly competitive market, consumers have more choices than ever when it comes to goods and services. In an environment where many products are often at parity, you need to give customers a good reason to choose yours over your competitors’.
More importantly, you need customers to come back to you again and again. This is called repeat business, and it’s often said that keeping a customer is 5 to 10 times cheaper than getting a new one. A healthy repeat business, along with gaining new customers, will assure your business’s survival and growth. So how do you convince customers to do repeat business with you? In a word: trust.
Why is brand trust important in business?
In simple terms, “brand” is any and everything associated with your business; this includes your product/s, service quality, employees, location, corporate values, and many more.
People will always choose a brand they can trust. No one wants to waste money on bad purchases. With the proliferation of fake news these days, customers want a brand that delivers what it promises. And given the speed of technical innovations, customers prefer a brand they can depend on.
Why do customers trust your brand?
Here are several reasons why customers believe in your brand:
- You are consistent in delivering quality goods and/or services.
- You charge a reasonable price for your goods and/or services.
- You get good reviews and ratings from other customers.
- You treat all your customers well.
When customers believe you have their best interests in mind, they’ll keep coming back for more.
How do you build trust for your brand?
Trust is something you cannot force unto your customers. It needs to be earned. Be consistent in delivering your promises, and use the following strategies to keep building on that trust:
Be accessible to your customers.
Customer interaction with your brand is crucial to building your credibility. Nowadays, customers check out reviews of your brand before committing to a purchase. Often, they’ll have questions. If you don’t provide them a venue to ask those queries, if you fail to address them in time, or if you are not able to answer their questions satisfactorily, then you’ll begin to lose credibility. Make sure you have able customer support staff in various points of contact: in-store, online, on the ground, on the phone, etc. You can put up a help desk, host an online forum, provide sound advice and reliable information on industry concerns, and participate in industry events.
Be reliable with your offerings.
No matter how slick your advertising and promo materials are, or how committed your company is to saving the environment, if your product or service fails to deliver on its promise, then people won’t buy it. A poor product or lousy service leads to negative word-of-mouth and loss of trust in your brand. Make sure to test and retest your product as it develops, using focus groups comprised of members of your target audience. They will tell you what works, what doesn’t, and what needs improvement. The same goes for services.
Be honest in your dealings.
Credibility requires transparency. This doesn’t mean airing your dirty laundry in public. Instead, you should be able to acknowledge your weaknesses when they’re pointed out instead of denying them or ignoring criticisms. If you’re willing to lay your cards on the table, then customers will see that you aren’t trying to be sneaky and hide things from them.
Be consistent as a brand.
Consistency means that your customers know what to expect from your products and services. Going beyond, every aspect of the brand — from your message to your design and your delivery methods — should be consistent with what the brand stands for. To illustrate, if your company sells an all-natural health product, then your brand should incorporate wellness into your marketing efforts; for example, producing ads that promote regular check-ups with the doctor, sponsoring weekend marathons, and using biodegradable materials for packaging.
Value your customers.
Going out of your way to satisfy a customer builds a lot of goodwill. You make them feel that you value them more than revenue. Offer your repeat customers special deals and other promotional incentives. Not only will they become your regular customers, but they’ll also be your word-of-mouth brand ambassadors.
Trust, and the commitment to excellence
When you commit to doing your best in all aspects of your business, and your customers see that you walk the talk, then they will believe and trust in your brand. A brand that’s committed to excellence will always be more attractive to customers.
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