Concern about inflation is at an all-time high, and with a recent report from Horizon Media’s Catalyst, the number of consumers pointing to corporate greed as the cause has risen by 8% from 2022.
In 2022, 44% of consumers said corporate greed was responsible for the crisis, now rising to 52% in 2023. With ‘Deinfluencers’ on the rise, could this mean your brand’s consumer trust and interest could be at risk?
After all, the key to consumer retention is achieving customer loyalty, and trust plays a big part.
Don’t panic, there’s still plenty of opportunity to skyrocket trust, and we’re going to tell you how.
Let’s jump in!
1. Be honest and transparent
Here at Arke, we pride ourselves on being a transparent marketing agency. We’re always honest with our customers in everything we do. The perfect match if we do say so ourselves.
It’s important your marketing isn’t misleading and you stay true to brand values. Consumers will recognise when your strategy is not genuine, so stay true to core beliefs and express that in your marketing channels. If you don’t, you risk customers choosing your competitors – and no one wants that.
You don’t want to be advocating sustainability and then avoid using environmentally friendly suppliers! Each part of your business model should reflect the values you’re pushing forward.
Be upfront about pricing and remove those hidden costs.
2. Offer great customer service
Customers will always return somewhere they feel listened to and cared for, and with that comes the building of trust and loyalty – a quality all great businesses have.
Providing an efficient, personable experience for your customers will reinstate your ability to go above and beyond for your audience. When consumers recognise that, repeat purchases are much more likely.
Like Uncle Ben, (not the rice to clarify) we also believe that with great customer service comes great recommendations (close enough right?). Customers are more likely to refer a brand to someone else when they’ve had a positive experience themselves – I know I’d want to be the Spider-man of the business world.
And that leads on to our last point…
3. Share your reviews
The more positive exposure and recognition your service has, the more likely people will tend to come to you for your trade – who doesn’t love a five-star service?
Research from Wyzowl suggests that 9 out of 10 people say they trust what a customer says about a business more than what that business says about itself, and 95% of people say that reviews – whether positive or negative – influence their purchasing decisions.
Share your reviews and take pride in what your customers think about you. Being a part of sites like TrustPilot can be really beneficial in gaining that extra bit of trust that could juuuust push a sale over the line.
Thinking of building a campaign to re-invite your customers to your brand? Our team of advertising experts are here to help. Get in touch with firstname.lastname@example.org to build a campaign with trust at its heart.