Why Building Trust With Customers Matters: 3 Expert Perspectives
To further make the point that I introduced in TalkFloor Interview
#5 about Building Trust with Customers Online, I want to share with you perspectives from 3 experts.
More specifically: Robert Hurley, professor at Fordham University and author of the book "The Decision to Trust: How Leaders Can Create High Trust Companies", B.L. Ochman, author of the What's Next Blog about Internet Marketing Strategy, social media trends, news and community, and contributor to Digital Next, AdAge, Mashable, Business Week and others, and Ted Rubin, a leading social media strategist and fierce believer in the concept of 'Return on Relationship'.
Building trust with customers - as this McGraw-Hill advertisement illustrates - begins before a customer signs on the dotted line to buy something from you.
Building trust doesn't happen overnight. Rather it builds up over time as a result of the actions you, your people and your organization take not only IRL [in real life], but also online and via social networks.
Building trust is a pretty critical aspect of doing business when you consider how much distrust exists in prospects' minds. It's not something to be passive about.
Why then aren't more companies engaging with customers online, building relationships and taking every opportunity to establish trust? Is it that it's not important enough? That it's frivolous or a waste-of-time?
I came across these expert perspectives from Robert Hurley, BL Ochman and Ted Rubin as I thought about this challenge.
Robert Hurley's Wall Steet Journal article titled "Trust Me" explains that "the most-trusted companies have lower employee turnover, higher revenue, profitability and share-holder returns..." He offers five principles for demonstrating trustworthiness, all of which translate into reasons for companies to be active online and via social networks:
1. Show that you share the same interests
2. Demonstrate concern for others
3. Deliver on your promises [for more on that, see Guy Winch's advice on how to build word-of-mouth from complaining customers]
4. Be consistent and honest
5. Communicate frequently, clearly and openly
BL Ochman describes 7 reasons why your company should be blogging.
- Humanize your brand
- Establish Trust
- Generate Leads
- Communicate frequently with your audience
- Be recognized as an authority and source of exclusive news
- Crisis Communications
- Because blogging is fun! [yes, it is :-)]
I like the concept that Ted Rubin describes in "Return on Relationship" as the New Measure of Success. He made the following recommendations during his presentation at the United Insight Contagious Content conference in June 2011 when I first heard him describe ROR:
- listen
- make it about them
- Ask 'how can I serve you?'
- aim for ongoing engagement
- know the people in your audience
This modern day interpretation of the McGraw-Hill advertisement above reinforces for me how critical it is to take every online opportunity to build trust with customers...
[Note: I first brought up the McGraw-Hill ad in Digital Visibility: The Reason Behind Content Marketing. Image courtesy of McGraw-Hill.]
Do you agree? How critical is building trust with customers in your business? How do you do it in person and online? What would you add to the suggestions above? How would you go about restoring trust?
