3 Ways to Build Trust In Your Business And Why It Matters
The digital landscape has offered some significant advantages for businesses and consumers alike. However, there are challenges, too. Online retailers and their customers are vulnerable to breaches of security and trust.
As such, a consistent commitment to building trust has to be part of your business operations. Consumers are increasingly wary of immediately engaging with unfamiliar companies. If you have a clearly trustworthy profile, you’re less likely to lose out on valuable conversions. Not to mention that your efforts to bolster confidence can spread widely in this highly connected age, leading other new consumers and partners to forge relationships with you.
But how can you best go about building trust in your business? Let’s take a closer look at 3 effective approaches.
1. Practice Solid Data Management
Among the primary concerns for consumers on the subject of trust is the protection of their data. Each time they interact with your business online, they’re providing you with information about their finances, their personal details, and their preferences. These are valuable resources and when they’re not handled respectfully, it can lead to serious breaches.
Therefore, it’s important to build trust by introducing strong data storage, sharing, and sanitation procedures. This should include providing staff with regular training on how to handle and safeguard consumer information. Enforcing company-wide clean desk policies can also reduce the potential for sensitive data to be left unattended and insecure. Make certain your employees understand how this not only boosts security but also helps them maintain solid organizational practices.
However, your company should be conservative about what data it collects and stores in the first place. Don’t keep operationally unnecessary information in the long term. Importantly, communicate with your consumers about how and why you’re minimizing data collection. This helps to highlight your commitment to their data safety.
2. Communicate Effectively with Customers
Trust doesn’t develop in silence. When your customers feel your company’s approach to interactions is less than clear, they’re unlikely to engage. This is understandable, as in 2021 the Federal Trade Commission (FTC) received 2.8 million reports of fraud, many of which were connected to online shopping scams. As such, it’s important to maintain good communication principles with your consumers.
This should be a part of your employee training from the outset. Help them to recognize how important it is to take the time to actively listen to consumers. Your staff’s responses must show they’ve taken customers’ thoughts and concerns into account. When consumers recognize that they are being respected, this helps to inform all other interactions they have with the business.
Your protocols also have to be present across your communication channels. Teach your staff what makes a clear and empathetic customer service email. Your company’s sales calls must be geared toward providing clarity and helping build genuine rapport. There are often rebuttals and hesitancy in these situations, but it’s important to show you understand the customer’s position. Guide your staff in how to be reassuring and to use customers’ names so they feel like people rather than statistics. These elements both help to develop trust and can also lead to more conversions.
3. Build a Culture of Integrity
Your ability to build trust with your consumers isn’t just dependent on your interactions with the outside world. You have to be able to show your trustworthiness goes right to the core of your company. It’s therefore vital to ensure that your business cultivates a clear and reliable culture of integrity.
This begins by making certain there is a consistent code of ethics in place that applies to all members of the company. There also has to be a commitment to transparency when staff actions fall short of the mark. Your company needs to talk to consumers about any errors or breaches of trust and be clear on how you intend to make improvements. This helps to show customers that your business is open, honest, and has an authentic respect for all those who interact with you.
Alongside these more formal aspects, it’s also important that day-to-day exchanges with customers demonstrate this integrity. This includes treating them with fairness when there are disputes. Apply common sense to dealing with refunds or items lost during delivery, rather than sticking rigidly to company policies. This willingness to be flexible with consumers and recognize subjective circumstances can be instrumental in creating the kind of trusting relationships that result in long-term loyalty.
If consumers don’t feel they can trust your business, they’re unlikely to be willing to engage meaningfully with it. This can affect your sales, reputation, and relationships. As such, it’s worth implementing a range of practices designed to build consumer confidence in your brand. This includes developing clear communications protocols, maintaining data security, and creating a culture of integrity. However, your efforts certainly shouldn’t be limited to these. Commit to regularly introducing new methods to elevate your reputation for trustworthiness.