There is a reason why brand awareness and brand trust are so important in every industry.
Brands tell consumers what they can expect from a product, and consumers remember the brands they like — and don’t like.
When they think about making a purchase, 81% of consumers think about the brand and evaluate the reasons for closing a deal or abandoning that product. Having trust in a brand influences consumers at all levels of income, age, geographic location and gender.
It’s also becoming clear that brand trust, or brand trust, is becoming more important as a factor in buying. Consumers cite issues such as automation and the brand ‘s product experience to make that trust more important.
What is brand trust?
Brand trust is more than just the confidence that the product will be a good investment. It also encompasses the entire experience that the customer has with the brand, from purchase to use of the product.
When consumers trust a brand, there are three main factors that are important for them to create brand trust.
The first one is to be open and honest . The second is to be inclusive and respectful . The third is caring for customers and being able to identify with them.
These factors are important even if the brand is new. Companies that develop these three factors more strongly will do better than their competitors when it comes to building brand equity.
With consumers, having confidence in a brand both assures them that it is a good purchase and makes it simpler to choose between alternatives in the market.
Today’s public is increasingly concerned about corporate behavior in a more responsible way and this is leading brands to add positive actions to their brand trust strategies.
At the moment, there is the opportunity to gain confidence while engaging in positive actions , but this only happens when the audience considers these actions truly altruistic.
The brand needs to have empathy and sincerity for these actions to be seen as altruistic. And the company must remain consistent with these values to build a valuable reputation.
Consumers are also increasingly concerned about how their data is being used. This is considered part of the brand experience, even if it comes later after purchase.
Why is brand trust important for successful companies?
Trust has always been part of a brand’s history. The amount of trust a brand can gain has long been associated with its success in the marketplace.
One difference today is that people can spread their impressions and experiences with a brand all over the internet.
Potential customers can check online reviews of a product or the brand itself and see how others felt about their purchase.
This has made it more important than ever to create a good customer experience so that the brand trust doesn’t fall apart due to online comments.
Today’s consumers have far more expectations for the brands they choose, and their overall level of trust depends on many different factors beyond simply whether the product works well for them.
While this is the main factor, consumers also want more from the companies they buy from.
When a consumer trusts a brand, they are 53% likely to try your newest products . Among brands where there is no trust, only about 25% are likely to buy that brand’s new products.
When they trust a brand, they are more than twice as likely to be loyal to it. They are also twice as likely to defend the brand to other people.
Consumers are moving away from the marketing tactics that have been the norm for decades and instead rely on social media or each other to decide what to buy and what to trust.
In fact, getting other consumers’ opinions is so important to today’s shoppers that they’ll read 100 reviews on average before they’re confident enough to buy a product online.
Getting these positive reviews through quality and customer experience is of paramount importance in today’s marketplace.
What are the main pillars of brand trust?
In any relationship, trust is the cornerstone of your success. So what are the key elements in establishing trust with your audience? This can also help in your personal relationships, but let’s take it easy.
First Pillar: Perceived Ability
Is your brand capable of doing what it promises? That’s the question your audience will ask. Does what you say and what you do match or are you just acting?
By reassuring your audience through the actions you take, you will build trust and begin to create advocacy.
Social tests or assessments will also help build that confidence, just don’t overpromise and underdeliver.
Second Pillar: perceived benevolence
Do they care about me? Yes, this pillar is difficult to establish.
By being consistent in your messaging and customer communication, you’ll prove to them that you care about what they say.
Make deadlines in your strategy for responding to online comments, engage with your customers, and always respond if they have a problem or negative experience.
Third Pillar: Perceived Integrity
It’s important to have a set of values that your target audience agrees with. By demonstrating that you share values, you will strengthen the brand trust. After all, we all like people who share our beliefs.
Are your products produced ethically? Do you help the community? Do you take care of abandoned puppies? Let your audience know through your advertising.
How can I increase the brand trust?
This is not an easy task. Gaining someone’s trust takes time and persistence. It’s all about consistency. If you want to take your brand to the next level, building brand trust is the way to success.
So how do you build trust in your brand?
Here are seven steps you can take to secure your path toward brand advocacy.
1. Create clear and measurable goals
Whether you’re planning to climb Mount Everest or build trust in your company’s brand, having clear, definable goals is vital to your success.
After all, if you don’t know where the goal is, how are you going to score?
Do you want more visitors to your website? How about increasing the number of followers on social networks? Is gaining a bunch of email addresses what you should be looking for? Do you want to create more brand awareness and advocacy?
Create a plan that includes clear, measurable goals. They should be communicated to other members of your team, as a unified approach is a realistic approach, and a realistic approach will be the foundation for establishing trust.
You’ll need to gauge your target audience’s reaction using tools like Google Alerts for social mentions. Also, keep an eye out for industry-specific review sites such as Complain Here, TripAdvisor, Yelp, or your Google My Business page.
There are companies that provide services to monitor them from a platform like Hootsuite.
You can also ask your audience by submitting feedback requests using tools like Survey Monkey to discover your Net Promoter Score (NPS) or conduct customer satisfaction surveys .
2. Choose a brand trust leader
While it’s not always possible, appointing a trusted boat captain is a great way to communicate that you’re serious about moving.
Having someone dedicated (and responsible) to building trust, setting goals, and measuring effectiveness is a surefire path to success.
3. Be authentic and present
The days of deceiving an audience with your sales pitch and a truckload of benefits are over. Your audience is very media savvy. These people want to know who you are and what you stand for.
This can be done in two ways. First, you need to create a brand story.
Create your brand’s unique story to communicate your values and voice. This shouldn’t have anything to do with profit and maybe not even your products.