The importance of building client trust
Now that we covered some good examples and practices, let's delve into how and why you brand should help you build trust with your clients. There's a reason why generic sodas can't be priced the same way Coca Cola is and why similar looking clothes cost more or less depending on their brand, that reason is trust.
Trust is one of the primary emotions you want to invoke in your customers while they’re interacting with your brand.
Here are some of the reasons why building trust with your clients is always a good idea.
Raising awareness and improving your reputation
The number one advantage to building trust-based relationships with your customers is the built-in good PR that comes with it. Trustful clients are far more likely to make referrals and post positive comments about you online.
Becoming the market authority
The good word is likely to spread, not just among your customers, but among your peers and competitors as well. Acquiring the status of a lead or authority has many perks including more favorable distribution terms due to increased demands and an easier access to decision makers of your target customers.
Increasing customer loyalty and retention
When your customers trust you, they are much less likely to switch to competitors, even if they provide other advantages, like lower prices. Having a reputable name attached to your products means that there is more of an incentive to keep buying them.
Increasing your profit margins
The customer loyalty and leader status both lead to an increase in your profit margins. Opting for you, as the market authority, instead of competitors makes a lot of sense from the perspective of your buyers, because there are less perceived risks.
Motivating your staff and selling your vision internally
Lastly, working on nurturing relationships based on trust works really well in the larger context of a positive company culture. When you treat your customers in a respectful and open way, and then extend the same courtesy to your employees, you create a friendly ecosystem of trust-based relationships that become a key part of how your company operates both internally and externally.
