Trust Is One Thing You Can Do To Build Loyality
McKinsey Company published an article that summed up consumer changes perfectly. In their article they said “we have covered a decade in days”. There are three forces at work causing the changes in the market that we are seeing—economic downturn, preference shifts, and digital acceleration.
As we slowly emerge from this crisis, it’s clear that there has been a profound impact on how people live and shop for products and services. The customer’s journey from being aware of a need, to making a decision of what to purchase and from who has been altered and in in some regards will never go back to the way it was.
Loyalty: It Isn’t What It Used To Be
According to McKinsey, 75% of consumers have tried new shopping behaviors and the majority, 73%, of these consumers plan on keeping the new brands, that they found, in their shopping routines.
One of the best ways that any company can build brand loyalty is through trust. Brand trust is a customers belief that your brand will deliver what it says it will deliver on a consistent basis. Trust is what binds company/customer relationships.
Ex-CMO for Unilever, Keith Weed said “a brand without trust is just a product”. When your customers trust your brand they feel more confident in their purchase decisions.
3 Steps To Build Trust
Be sure that your marketing messages are consistent in the brand value that they are talking about. Does your company go to market as a quality leader? If so, it’s inconsistent to have a marketing message talking about deep discounts on your products or services.
To the contrary, if your company promotes competitive pricing but in actuality you’re much higher in price to your competition, this will not build trust.
Pre-internet days, being personable was a lot easier. A good customer was known by everyone. You would not only know their name but you’d also get to know their preferences in products/services and what they found to be valuable.
With the growth of customers moving online being personable is more difficult, not impossible, but more difficult. It has to be a conscious decision for your brand to be more personable.
Digital personalization can be accomplished by developing a strategy that will collect the appropriate data and then applying that data to all channels of your digital marketing.
You can no longer ignore the social media channels. All too often people are afraid of negative reviews so they just don’t engage with social media. This is the worst thing that you can do.
People will be talking about you through social channels whether you are engaged or not and the problem in not responding to conversations about your company is that literally hundreds of people are seeing how you respond or don’t respond.
This will impact trust, even with people that haven’t done business with you, yet.