The Power of Trust in Brand Marketing

In recent times many businesses around the globe have been challenged in a variety of ways. Many are now searching for ways to strengthen their brands so they can survive through the difficult times, and thrive when they break through to the other side. 

Trust is the foundation on which brand marketing thrives. A brand can build customer loyalty and increase sales by earning the customers' trust. This helps to show that they are a reliable company with products worth purchasing. When companies have loyal customers, it increases brand reputation and in turn brand equity and sales. 

It’s time for brands to use some creativity to overcome the current challenges. In this blog post we're going to talk about how to build trust with your customers, and tips for building customer loyalty so you can increase sales. 

1. What is trust and how does it affect marketing?

Trust is a human behaviour that is sometimes hard to measure, but has a big impact on brand marketing. It's important for marketers and advertisers to build trust with customers because people do business with those they know, like and trust. When people trust a brand, they're more likely to buy from that brand. 

A lot of research has been done on building trust and loyalty in business. The Net Promoter Score (NPS) has become the industry standard in measuring and analysing loyalty. It’s a metric used to understand customer experience which has been proven to enhance brands. 

2. The importance of a trustworthy brand

According to a study published by Edelman, about 81% of people said they need to be able to trust a brand in order to make a purchase. We know from this statistic alone how important it is for marketers to establish a sense of trust with their customers. One of the most critical factors in creating a sense of trust is authenticity. Authenticity is the idea that people are real and genuine. 

When you trust a brand, you are more likely to buy their products and recommend the brand to others. Trust increases brand reputation because people will be more likely to purchase from that brand in the future. 

3. How to build trust with your customers

To build trust, be transparent about your company's mission, values and policies. Under promise and overdeliver! Actions speak louder than words so never say one thing but do another or act in a way that contradicts what you've said or done in the past. Customers love authenticity when it comes to marketing because they know they can trust you when it comes to quality. 

When people build a trusting relationship with your company, the purchasing decisions will be based on the customer's emotional connection to the brand. This is an important factor in differentiating your brand so you can gain new customers. 

4. Tips for building customer loyalty

Many consumers will remain loyal to a brand when they feel you’re providing consistency. As a company grows it becomes more difficult to maintain consistency particularly in B2B marketing. Selecting the right marketing software to suit your industry is the key. 

When your customer base feels supported by your company, they’ll have a deeper sense of trust in your brand. If they can easily communicate with your company when they have a concern, you have a chance to resolve the issue before they start venting to their friends and online. That’s why live chat can be so powerful in creating an amazing customer experience. 

In challenging times, it's when customer loyalty is tested and you discover how strong your brand relationships really were.  In tough times, customer loyalty will be critical for success. 

All businesses make mistakes from time to time. If you've built enough trust over the years, you can weather the storm in challenging times. Own up to the mistakes and take responsibility for them. It's easier than trying to blame or cover up the issues, which only creates distance from your customer and damages customer loyalty. Show respect by handling complaints in a timely manner, with sensitivity, empathy and awareness of the customer's perspective. 

5. Trust in the social media age

There is nowhere to hide as a business in the social media age. It’s estimated that 3.78 billion people are currently using social media and this number is constantly increasing.

It's important to show respect for customer feedback and address customer complaints through social media, rather than ignore them or try to silence customers with a lawsuit or complaint of their own.

If you've built enough trust with a loyal customer base, they may jump to your defence by sharing their own experiences. You should always respond to negative comments online in a gracious manner, even when the comments shared about your brand are unjust. 

Be patient and empathetic when dealing with customer complaints online, or you risk damaging customer loyalty to your brand. 

6. Why you should invest in online reviews

Word of mouth is one of the most effective marketing tools that exists. 93% of consumers use online reviews to inform their buying decision making it the new word of mouth. When people see that other consumers have had positive experiences with your product or service, they're more inclined to buy from you. 

What others are saying about your company is far more compelling than what you say about yourself. For this reason, online reviews have become an essential part of marketing. 

If you are a relatively unknown company, online reviews can help your business grow by providing customers the proof they need to feel confident making a purchase. While you can't force online reviews, you can certainly invest in systems to encourage positive reviews from happy customers. 

You can also use online reviews to understand where you could potentially improve as a business. If there are trends that emerge, you might pinpoint issues that are hurting your brand reputation. 

7. Trust that grows your business

Whether you’re a small business or a company on the stock market trying to improve market capitalization, trust is a powerful concept that affects all marketing. A brand can have trustworthiness, but if it has no brand awareness then it will not be successful in the marketplace.  Trust and awareness need to work together to create powerful marketing. 

There are many ways for companies to increase brand equity by building trust. It really is the foundation to any strong brand. By providing a quality product or service, you'll be in great shape to create trust in the marketplace but it takes more than that to truly be successful. 

Trust is something that builds over time.  It is a feeling of certainty or reliability in someone, something, or a situation. Trust is also an important factor when it comes to customer loyalty and retention of customers. When companies have loyal customers, it increases brand reputation and in turn brand equity.

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