Hey friend,
Trust is scarce. Here's how to earn it.
I was listening to a podcast about trust recently, and I had an existential moment of the heebie-jeebies. The more sophisticated digital has become (hello ChatGPT, deep fakes, Cambridge Analytica!) the harder it is to trust what we experience.
It’s a real problem. Trust is the ultimate currency in business, but it's becoming increasingly scarce.
With so many brands competing across channels designed to monetize our attention, and the simple truth that digital marketing channels are algorithmically rigged to take us from awareness to conversion as quickly as possible by almost any means possible . . . it's not surprising that consumers are more and more skeptical of brand claims, and understandably wary and hesitant to trust newer or less established brands.
If you watched The Social Dilemma on Netflix during Covid, you know what I’m talking about. It’s creepy! But, here's something I never predicted to find in my background research for this article: In our polarized world, business is now the only global force considered to be both competent and ethical.
Whaaaaaaaa?
Here's the quote from Edelman: "The 2023 Edelman Trust Barometer reveals that business is now viewed as the only global institution to be both competent and ethical. Business now holds a staggering 53-point lead over government in competence and is 29 points ahead on ethics."
So yay us! We’re more credibility than the government. (pause for your reaction to that) But before you go skipping down the lane . . . it's not all butterflies and rainbows.
Trust has to be earned. To earn trust, brands need to differentiate themselves from the competition in both word and deed.
But the most important thing you need to create and deliver: Consistency. Consistency creates predictability and predictability earns trust.
Brands that don't create and communicate trust signals have a hard time competing in today's market.Consumers aren't stupid. They’re increasingly savvy and skeptical . . . and can spot insincere or dishonest messaging from a mile away.
If they get a whiff of insincerity — or inconsistency — they are going to hit the big ol’ pause button while they do more research, ask around about you, start comparing you to others, etc.
Ugh, that’s deadly for sales.
How to earn brand trust.
So, how can your brand earn that trust and stand out in a sea of competitors? It starts with creating a clear and consistent brand message that aligns with your values and mission. This ensures that your customers know what your brand stands for and can trust that you will deliver on your promises.
After all, that’s what a brand really is. It’s a promise. Then, you need to communicate and deliver on your promise over and over again.
When consumers hear your promise repeatedly, they’ll start to remember it. Familiarity is a precursor to trust. That’s why it’s so important to always be communicating.
When it comes to paying off on your promises, the easiest way to do that is to have systems, processes, and routines that your customers can come to expect.
When you consistently meet or exceed customer expectations, you’ll build a loyal following that trusts in your ability to provide quality products and services.
You’ll also want to communicate your trustworthiness through social proof, such as customer reviews and testimonials, as well as certifications and awards that demonstrate your expertise and credibility.
These trust signals will help customers feel more confident in choosing your brand over others in the same industry. Ultimately, building trust takes time and effort, but the rewards are worth it.
Think of active trust-building as making a bunch of deposits to a trust bank that pays compounding interest. Over time, the account starts to grow on its own. By consistently prioritizing trust, you can create a loyal customer base that believes in your brand and is willing to support it through thick and thin.
And I don’t know about you, but I’ve been feeling a lot of ‘thin’ lately.
Here’s how to earn trust in a nutshell.
1. Develop a differentiated and meaningful brand promise. Transparency is key in earning trust from your customers. Make sure to be openly honest with them about who you are, what you stand for and the products or services that you offer. This will help them feel comfortable with your brand and create an environment of trust.
2. Establish a consistent presence. Make sure your target audience is aware of you and your brand by creating a consistent presence on social media, advertising channels and other digital platforms. This will help to create visibility for your brand and show potential customers that you are reliable, trustworthy and dependable.
3. Provide consistent experiences. Develop systems, processes and routines that customers can come to expect every time.
4. Prove it. Use testimonials, case studies, awards, accreditations, customer ratings and the like to send trust signals.
Do these things and you’ll enjoy an improved reputation, increased sales, and sustainable (resilient) growth.
Also, here’s 3 things I’m contemplating right now:
- I’m watching Beef on Netflix. Only two episodes in, so no spoiler alerts!!!
- I’m listening to The Lazarus Heist podcast as research for our new cybersecurity client, and it’s oh soo goooood. (And creepy. I love creepy. Until I don’t.)
- We’re lining up two workshops for 2nd quarter. If you’re interested in hearing more about either of these, please just hit reply and we’ll see if they’re a good fit for you.
- Our Business Storytelling Workshop - which is a half-day workshop for teams where I’ll guide you and your team through an exercise to uncover what your unique advantages are and how to translate them into a brand story that resonates with customers.
- Our Brand Positioning Workshop - which is also a half-day workshop for teams where I’ll guide you and your team to determine your best-fit users and key audiences, and find your most advantageous position in the competitive landscape.
Thanks for reading to the end! Happy weekend.
Ginger
