Building Trust as Marketing Tool

Building Trust as Marketing Tool

Building Trust as Marketing Tool

Trust, according to Meriam-Webster.com is 'assured reliance on the character, ability, strength, or truth of someone or something.' The website also suggests that it is 'one in which confidence is placed.' Both definitions suggest that trust is all about reliance; indeed a relationship without trust is no relationship at all.

For any organization, trust is essential. It is something that can only be built through time. But the irony of it is it can also be destroyed in a blink of an eye. It is therefore necessary, no, imperative, for organizations to nurture this trust placed on them by customers since this is the foundation of effective relationships. As a matter of fact, a trusting environment correlates positively with high degrees of organizational success. Obvious advantages include accelerated growth, good reputation, effortless communication, and heightened loyalty.

How then do you establish trust among your client base? Why do people go back to a particular brand even with the full knowledge that they are a bit more expensive than their competitors? Why do people go for a particular variety when there are copies available? The answer to this question is because they trust the brand. Read on and understand how businesses can foster a solid trusting environment with customers.

First, a business must realize that it is impossible to please everyone. What this suggests is that companies should focus on a particular segment that it wants to serve. By zeroing in on a particular segment, the service becomes a brand. The brand becomes a reputation and with that, trust is not far behind.

Try this parallelism. Print brochures are often given away like there is an infinite source of paper. They are handed out to all passers-by in a mall or any public places. Now look and observe how 'mallers' react. Reactions vary from ignoring them completely, to politely refusing them, to taking them only to throw them away later. This is certainly not effective. The problem here is because the brochure printing material or print brochures become worthless commodities. But if it is targeted to a particular segment those who actually need the product or services chances are there will be interest in it.

Second, a corollary benefit of focusing on a specific niche is that the expertise is perceived. Needless to say, with differentiation comes expertise. For instance, Nike has an accessory for all types of sports. There is a shoe for any sport conceivable. I think the only sport that they do not produce a shoe for is swimming. As word spreads of this expertise, clients will come and it would become easier to establish and maintain relationships because their needs are so accurately met. This is one foundation of a trusting relationship.

These illustrate how strategically important it is for small businesses to focus on how trust can be built or nurtured. As a result, businesses will be more profitable and clients will be more satisfied. These are the ingredients for longevity and growth.

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