Building trust is a very crucial aspect of a brand’s life because it is perhaps the only factor, aside from having a good product that can get the consumers running back to the brand.
Again, trust is a very important factor when it comes to driving market acceptance for new business innovations. How much the consumer gets to trust a product or service offering would be the core determinant of whether it is adopted or not, as well as the loyalty the brand enjoys in the long run.
In today’s digital space, we can point to a good number of top brands that have been able to gain and retain the trust of their consumers. In fact, some of these brands are even more trusted than the governments in the climes where they operate. As the trust in government keeps reducing, we see these top brands and businesses growing and maintaining a high level of confidence from consumers, with the resultant effect that some of them are more trusted than the governments.
Here are three leadership lessons from top brands, which other brands can make do with.
Promote Honesty by Building Credibility
As a brand, you need to promote honesty and build your brand on a great deal of credibility. This makes your consumers comfortable and pushes them to believe they can trust you even more. There are a thousand and one ways a brand can promote honesty.
Top rental brand, Airbnb, built credibility by promoting honesty through her new review system, which makes it easy for users to share experiences they had while using Airbnb. These honest reviews benefit the community and help them make informed decisions.
To ensure that this review system achieves its goal of building consumer trust, Airbnb made it more comfortable for its community to share honest feedback from every experience. Participants (hosts and guests) have a 14-day period to review one another, and these reviews are only revealed when both parties have completed their assessment. This reliable peer-rating system legalizes the service.
Guests are also made to share private feedback for their host, which is delivered once their review goes public. The sure lesson in this is that transparency is a sure way to establishing authority.
Set Expectations Commensurate With Deliverables
A brand that would excel is one that delivers on what they promise or does even better. In fact, it is preferable to over-deliver at the end of the day. This not only leaves your consumers wowed, but also builds trust and increases the confidence placed on the brand.
Marching your promise to what you can deliver helps your brand position itself as a reliable product.
Make sure your promises are simple, direct and consistent with your offerings. At times when circumstances beyond your control lead to under-delivery on your promises, be mature enough to accept responsibility for the shortfall, be quick to apologize on the public field using your social media platforms and then move to fix the situation as fast as you can.
There is no surer way to hold the confidence of your consumers, as they would come to realize that you are one they can talk to, and one who will listen when there is an issue with your service or product.
Create Bonds Based On Mutual Trust and Respect
It takes real effort to earn trust; but once it is earned, it is difficult to lose. Brands should look out for ways to establish a mutually beneficial relationship with consumers. From offering a listening ear to consumer complaints, to rewarding loyal consumers, give-aways, and smooth purchase experiences, the list is endless on how a brand can earn respect from consumers.
No one expects perfection from any brand, but transparency and mutual respect are key factors that will help build a solid bond with the consumers.
This is one crucial factor that finds application in leadership, brand building and all facets of life.