How Important is Trust as a Buying Factor?
It’s critical – especially if your product/service commands a price premium. Companies aren’t likely to pay for anything if they don’t trust the seller.
We are all familiar with the adage “trust isn’t given, it’s earned.” So, how can your company quickly prove your trustworthiness? You can measure and communicate your experience. It means measuring how well you do at the elements that most influence buyers (e.g. on-time delivery, accurate order fill rate, positive results, etc.)
You can earn new business with a focus on trust, but people don’t trust you because you’ve stayed in business for a few years. They may have heard of you, and may consider doing business with you because they are aware of your brand.
Regardless of industry, many companies tout their history and awards. When the same message is being told, where is the differentiation? Are they building trust or boring their prospects?
Trust is something you need to prove, and that requires a focus on performance. That’s why so many companies that invest a lot of money in advertising are missing a meaningful ROI.