Brand trust and a brand people believe in will attract new customers and keep existing ones. Cultivating a trusted brand can give your company a competitive advantage. Without it, customers are less likely to buy, even if you have a superior offer.
What is brand trust?
Brand trust measures how confident customers are in your business. Can they believe in the information you provide? Can they depend on your features and benefits? Will your customer service be top notch? Questions around brand trust are a key part of the purchase decision-making process. How well you deliver on your promises and meet customers’ needs, and how you live up to the image projected by your branding are key drivers of brand trust.
Why is brand trust so important?
Brand trust is key to differentiation. If two companies offer two products that cost the same and are nearly identical, the one with a reputation for making high quality products and treating their customers well will beat on the one that hit-or-miss products and makes their customers wait on hold for hours every time they need tech support. Customers pay for more than products; they also pay for peace of mind. And they pay more for brands they trust.
How can a company cultivate brand trust?
1: Conduct custom market research
What do your customers like or dislike about your product or service? Why do your competitors’ customers choose them over you? What are other professionals in your industry saying about your company? Knowing the answers to all these questions can make a huge difference in your ability to cultivate brand trust. Surveys, long-form interviews, and communities of experts with niche knowledge of your industry are ways to find the answers you need. We search for highly qualified sources who can shed light on untapped opportunities. We can help find the right sample, schedule interviews, or arrange long-term consultations.
With to-the-minute insights on customer sentiment and the best practices for building brand trust, you can make better decisions.
2: Sell exceptional products or services
If you sell a product that works every time, your customers are likely to keep buying and may also recommend you to others. If your product fails to perform as advertised, you risk making your customers disillusioned with your products and disinclined to buy them again. You need to know what functions customers want, how to best serve them, and what unmet needs you can plan to meet in the future. Here is how a leading cloud software company used custom B2B research to gather the insights they needed to build the best product possible.
3: Have strong customer relationships
Your relationships with your customers can be one of the most important factors in building brand trust and influencing whether or not a customer will become a repeat buyer. To build strong customer relations, you need to know what your customers want and how they expect to receive it. Pinterest increased brand trust by conducting detailed B2B research with their advertisers that enhanced their UX. Make customers feel they matter and they may become advocates for your brand.
How can NewtonX help support brand trust?
NewtonX is the B2B market research agency of choice for companies looking to gather deep insights into brand trust drivers. Interested in hearing more? Get in touch today.