{"id":17139,"date":"2020-06-24T20:01:01","date_gmt":"2020-06-24T20:01:01","guid":{"rendered":"http:\/\/experience1.wpengine.com\/?p=17139"},"modified":"2023-06-12T17:06:25","modified_gmt":"2023-06-12T17:06:25","slug":"do-you-trust-me","status":"publish","type":"post","link":"https:\/\/try.experience.com\/resources\/do-you-trust-me\/","title":{"rendered":"Do You Trust Me?"},"content":{"rendered":"<p>Why is trust so important to a business?\u00a0 You instinctively know the answer but here are two statistics to emphasize the importance of building trust.<br \/>\n<b>\u201c68% of adults in the U.S. say that trust in a brand has \u201ca great deal\u201d or \u201ca lot\u201d of influence on their decision when making a big purchase.\u201d<sub>1<\/sub><\/b><br \/>\n<b>\u201c76% globally will always recommend a certain trusted brand if someone asks.\u201d<sub>2<\/sub>\u00a0<\/b><br \/>\nTrust is a powerful element of your business and revenues. A customer\u2019s trust in you and your business influences whether they will do business with you and if they will refer you.\u00a0 Are you giving this your priority?<br \/>\nFour Factors Influencing Trust:<br \/>\nBusinesses have been moving to more online communications long\u00a0 before the pandemic, but now we are even more reliant on online interactions.\u00a0 Face to face meetings are currently non-existent and may be for some time.\u00a0 Video conferencing works well but it is hard to read body language.\u00a0 So how do you build that trust with customers online?<br \/>\nPersona Global, a business consulting firm broke down business trust into four factors<sub>3<\/sub>:<\/p>\n<ul>\n<li>Reliability<\/li>\n<li>Openness<\/li>\n<li>Acceptance<\/li>\n<li>Congruence<\/li>\n<\/ul>\n<p>Let\u2019s look at each factor and how you can use them to build your online trust.<\/p>\n<h5>Reliability \u2013 Do what you say you will do, don\u2019t overpromise, and meet your deadlines<\/h5>\n<p>We all have a friend or family member who is very reliable.\u00a0 They will always be on time for appointments.\u00a0 When they promise to do something before Friday, it is done by Thursday.\u00a0 You trust them.\u00a0 How did they gain your trust?\u00a0 You looked at their past actions, listened to those who told you they were reliable, and measured them every time you needed them.<br \/>\nIn business, reliability is built the same way.\u00a0 Reliability as shown in consistent customer reviews that say, \u201cShe met all our deadlines\u201d or \u201cMatt promised a loan rate and he got it\u201d.\u00a0 It is also shown in your marketing messages.\u00a0 If you state, \u201cWe will get you the best rate!\u201d, your customer reviews should prove that point.<\/p>\n<h5>Openness \u2013 Tell the whole story, good and bad, be open to customer feedback, and vow to change if something went wrong.<\/h5>\n<p>Do you have an aunt that is way too open?\u00a0 She will tell you everything about her life from why she hates tomatoes to how she massages her husband.\u00a0 TMI lady.\u00a0 However, because she is so very open, you probably trust her to tell you the truth.\u00a0 If you ask her how your dress looks on you, you will get a direct, honest unfiltered opinion, good and bad.<br \/>\nWe have a tendency in business to \u201cFacebook\u201d everything online by only showing the good reviews.\u00a0 Be honest now, when you read a friend\u2019s Facebook posts that are only rainbows and unicorns, you don\u2019t really trust that their life is always so great.<br \/>\nBe open in your business dealings.\u00a0 When a customer complains online about your service, reply and apologize for the experience online and say what you will do to change.\u00a0 Be honest that we all have bad days and make mistakes.<br \/>\n<b>\u201c41% of consumers say that brands replying to reviews makes them believe the company really cares about their customers.\u201d<sub>4<\/sub><\/b><\/p>\n<h5>Acceptance \u2013 Treat people with respect, don\u2019t make them feel stupid, and don\u2019t use industry jargon they don\u2019t understand.<\/h5>\n<p>When someone treats you with respect, you know it and respond in kind.\u00a0 Ever been in a conversation where someone is talking in some jargon you don\u2019t understand, and they never explain it.\u00a0 You might think they are trying to fool you or make you feel stupid.\u00a0 This is not a good way to treat someone and lowers your trust of them.\u00a0 But, what if they explained what the jargon meant allowing you to participate in the conversation.\u00a0 Would you respect and trust them then?<br \/>\nPutting a bunch of industry jargon on your website or marketing materials may make you sound smart but it may also alienate your customers who are not as deeply embedded in your industry.\u00a0 Educate them on what an APR is, what liability coverage means, or what a 15\/5 rate is.\u00a0 Create acceptance and trust by explaining in layman\u2019s terms your jargon and make sure your customers understand.<\/p>\n<h5>Congruence \u2013 Be straightforward and honest, say and do what you mean, create a win-win situation with your business and customers<\/h5>\n<p>Would you trust someone who always wants to win and thinks that for him to win, everyone has to lose?\u00a0 Win at all costs.\u00a0 You would not trust them with doing anything for you unless it benefited them.\u00a0 Would you want to maintain a relationship with them?\u00a0 The answer would be no.<br \/>\nLet\u2019s take a customer interaction.\u00a0 Suppose you needed to close a home loan in 2 months and the loan officer says, \u201cNo problem\u201d, but she knows that they are backed up and cannot finish in two months.\u00a0 She is not straightforward with you because she wants your business.\u00a0 She wants to win and believes that you won\u2019t leave to another broker in 2 months, which may be true.\u00a0 After she closes that loan, do you think she is going to get a good review from you, get a chance for refinance, or get referrals?\u00a0 Probably not.<br \/>\nWhat if she was honest upfront and tells you that, \u201cI know you want to close in 2 months, but we are backed up and will need at least 3 months.\u00a0 I want to be honest with you and you know we are the best.\u201d\u00a0 Do you think she would get your loan business?\u00a0 Most likely and also get your referrals and recommendations. \u00a0 She has built trust with you by being honest.<br \/>\nBeing congruent builds trust.\u00a0 Research shows that this straightforward and honest approach wins in the short and long term and leads to more business.<br \/>\nYou probably are already building trust in your business using some of these factors but may not have considered how they work together to build overall trust in you and help your business grow.<br \/>\nThe last thing to discuss is how you market your trusted business online and tell these stories. \u00a0 The main tool is to ask for online reviews and post them everywhere someone is looking for your type of business, Google, Facebook, Linkedin, Yelp, LendingTree, Zillow, etc.\u00a0 Make sure you are posting all reviews, good and bad, and responding to each review with heart and honesty.<br \/>\nSo, when a new customer asks you, how do I know you will do a good job or can I trust you with my business, just say \u201cGoogle me\u201d.<br \/>\n<sub>1<\/sub>\u201cSurveyMonkey Reveals New Research to Help Businesses Understand Consumer Perceptions on Trust\u201d, SurveyMonkey, 2018.<br \/>\n<sub>2<\/sub>\u201cBrand Trust Is Becoming More Important: Here Are Some Key Stats And Themes.\u201d MarketingCharts, 2019.<br \/>\n<sub>3<\/sub>\u201c4 Elements of Trust in Business.\u201d Persona Global, 2018.<br \/>\n<sub>4<\/sub>\u201cThe Conversation Index, Vol 6,\u201d BazaarVoice.<\/p>\n<div class=\"sharedaddy sd-sharing-enabled\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Why is trust so important to a business?\u00a0 You instinctively know the answer but here are two statistics to emphasize the importance of building trust. \u201c68% of adults in the<\/p>\n<div><a href=\"https:\/\/try.experience.com\/resources\/do-you-trust-me\/\" class=\"exp-read-more exp-read-more-underlined\">Read 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