Let’s {try} and make one of the most complex issues in business easier to apply in your business or brand.
Trust.
WHY SHOULD I CARE ABOUT TRUST?
According to Edelman, in a survey of 16,000 in eight countries, trust today is the deal-breaker or the deciding factor when consumers are considering a brand. 81% of respondents, in fact, cited this.
It trails only quality (85%), convenience (84%), value (84%) and ingredients (82%).
So, if you have the same product or service as someone, with the same sense of customer service and quality, then it’s this ‘intangible’ sense of trust that comes next as the deal-breaker.
Which is big and important and {let’s say it again} important.
HOW DOES IT WORK?
People today grant their trust based on two distinct attributes:
- competence (delivering on promises)
- ethical behaviour (doing the right thing and working to improve society)
It is linked to what society perceives as ‘doing what is right’.
And when a brand gets this right, consumers will reward them.
Aside from passing the ‘deal-breaker’ choice above, other rewards include:
- 62% say they will remain loyal, even in the initial face of disruption or a trend innovator.
- 51% say they will advocate for the brand.
- 43% say they will defend a brand.
But despite its importance, so many brands are failing to a) focus on this or b) execute
this well.
HOW CAN I GET IT RIGHT?
First, I am going to tell you what Edelman’s report states, and then I am going to let you in on some gold from my own experience.
Get involved in at least one societal issue that does not directly impact your business.
This means something that is meaningful and will resonate with your target audience that has no benefit directly to your business.
And here’s the key – communicate this wisely and do not use societal issues as a marketing ploy to sell more of your product or service.
Society is seeing straight through what has been coined ‘trustwashing’ and you will lose trust if this involvement is set to benefit you.
Be honest in your marketing. Authentic and sincere marketing strengthens enduring trust with consumers.
This one is obvious but just not done enough. In the age of hyper-competition, business and services are lacking transparency.
Example: if your product takes longer to ship because you take extra time to package it well, or it’s made to order – say this. Own it. Give context as to why. Your audience will appreciate (and reward) your honesty.
Consider the voices you’re using to tell your story.
This year, 74% of respondents report they are actively avoiding advertising and instead rely on influencers, experts, peers and employees of a company for their voice.
So, use them. Stop always creating your own content and start seeking other voices who can authentically speak to your customers for you.
And my two cents… COMMUNICATE MORE.
So many brands and businesses are doing things that would support the growth of trust between them and their consumers. But they are too quiet about it.
Start producing {humble} informative content about the topics that your consumer is internally concerned about or distrusting about. And communicate this authentically and openly.
The topics you should be addressing that over 60% of consumers say builds trust for them include:
- How you protect your consumers’ personal data.
- How your products/services actually work as advertised {social proof helps here}.
- Your focus on safety of your products and environment.
- How you consistently deliver on what you promise {social proof helps here}.
- Be open about your refund policy or guarantees.
- How you deliver great customer service and treat customers well.
- How you treat employees well and your policies and culture.
(Data according to the Morning Consult’s 2020 report ‘The State of Consumer Trust’)
THE FINAL TAKEAWAY.
If you start to include well written and toned communications on the above in your communication plans, there is no doubt that your consumer trust will build. And with it, your rewards.
The key though, is {buzzword alert}, authenticity. A touch of humility. And transparency. Shape your words with the right level of ‘realness’ and emotional intelligence and secure that vital asset for your brand that will propel you towards your engagement goals. Trust.
