Why is customer trust important? How can you gain customer confidence and loyalty? Organizations big and small grapple with these questions daily. Is there a secret recipe for customer loyalty? Let's unravel the facets of customer psychology and a business's ability to earn and retain trust.
Sorry to disappoint you; there is no "secret recipe" to build customer loyalty. When I mentioned a secret recipe, I meant there is "no hack" to attract customers and keep them. There is no scheme which allows you to do that. Even though there may not be a complex algorithm to retain customers, but it's still possible to win trust. How does one do it? you may ask?
There are many apparent and straightforward aspects that a business tends to skip while designing its customer experience plan. Forbes highlights that you should plan to be radically transparent with your customers to have a great relationship based on trust and transparency.
In today's marketplace, customer expectations are on the constant rise, along with fierce competition. Customers are spoilt for choices. The limitations of the local market no longer bound them. They can take their business across the world in a matter of one click on their phones. A single, poorly rated tweet can be retweeted into a storm that can potentially put you out of business. So brand loyalty is more important now than it ever was.
The factors customer considers while evaluating your business is beyond price and features. The intuitive nature of them choosing your brand is cemented on the foundations of trust. Somewhere in the customer journey, you have to put concerted efforts to build trust.
The following are the key ways to build trust.
It's paramount to back up your promises if you want to earn trust. Those promises ring hollow if you state the commitment to deliver and don't back up those words. Being authentic entails creating a brand philosophy and sticking to it. Customers can continue to believe that the business will stand behind its fundamental ethos and is an authentic brand.
Glass Box Tactics
Glass Box Tactics pertains to the belief that a consumer relates to the brand at a personal level. Your customer firmly believes that what he/she consumes equals who they are, and therefore, the brand/business must have shared values. The decision to go back to a business for future engagements is based on the premise of total transparency and authenticity, hence the word glass box.
So aspire to know your customer and make sure the customer appreciates your values. With this approach, you will build a long-lasting relationship based on more than delivering specific services.
People look for other people's experiences with your brand. They look for confirmation to create positive connections around your brand. Research says that people tend to look for reviews and are 12 times more likely to buy than read the product description if found convincing. Product reviews and testimonials come under this category, which helps build authenticity and adds credibility. Social proof goes a long way to earn your customer's trust.
If you set up a 24X7 chat, there is an assurance to the customer that someone with whom he/she can talk. This ability is a big plus and incentive for the customer to hang around your website and keep soaking in information. It's not difficult to set up an offshore-based "out of business hours" support team. As the adage goes, humans buy from humans. This element of human interaction is critical.
You can also extend this to the phone number you display on your website. If you are not available, hire a virtual assistant service. People tend to drop the calls the moment they are hit by a voice mail. So put in the extra effort to be available to your potential customer. It speaks volumes on your commitment and goes a long way in strengthening a relationship.
A blog is a place where you have the flexibility to connect with your potential customers at a deeper level. The connection is at a level that goes beyond just rattling out product features and detailing specs of your service or product. A blog is a place that gives you an option to be highlighted as a subject matter expert on all the things your business is about.
A well-crafted, knowledgeable blog informs the customer and keeps them engaged. They are more inclined to talk to someone who has more to offer than just a catalogue of items. A blog is also one of the most significant proofs of the company's existence. A frequently updated and maintained blog equals a lot of effort on the company's part. This level of effort also indicates that the business is thinking long term and plans to stay around longer to serve customer needs.
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