As we are aware of the inscrutable fact that the present era is an amorphous zone of internet and digitalization. Digitalization has made people more aware. As digitalization is enhancing every sector, companies are transforming their businesses into online mode. But any business, be it online or offline, can only generate more revenue and develop a brand name in the market if they can build consumer trust and this means learning tactics like how to respond to a negative review.
Consumer trust plays a vital role in the success of a company because the frequency of purchase of service and products depends on the trust of people. If you have good consumer trust, you can demand a higher price from customers and can enhance the lifetime value of customers.
Building consumer trust is not an easy task and can't be done in a vacuum. Businesses need to remain consistent with the excellent quality of their products and services, understand the personas of their customers, and fulfill the commitments.
Why it is important to improve customer trust in the digital marketing environment
The key reason why businesses should invest in implementing various tactics to build trust are:-
- Improve customer retention
Customer retention is an important parameter liable for the success of a company. Day by day, new and innovative products are coming in the market and creating a challenge for businesses to retain their customers. Therefore you should always have an eye on the latest innovations and keep your products and services up to date with the market standard to retain customers.
- Increase cross-selling and up-selling
High customer trusts enable you to do cross-selling and up-selling products and services and generate more revenue.
- Improve customer satisfaction
Consumer trust assists in increasing customer satisfaction rates and helps to retain customers.
How to build consumer trust in the digital marketing environment
Every business is always in search of techniques and technologies that can assist them in enhancing customer trust. Building trust in this digital marketing environment has become tougher.
Now best quality products and services are just one click away from your doorstep. Digital marketing has enhanced competition in the market. As per BrightLocal survey, it’s found that 92% of customers read online reviews before buying any product. Every one-star increase in rating leads to a 5-9% increase in revenue.
Therefore, to excel in this competitive world, businesses should use sound digital marketing tactics to create and execute an E-commerce marketing plan.
The best strategies to build consumer trust in digital marketing environment includes:-
Have a more reliable product
People are always focused on buying on emotions, not on logic. Therefore, your product should be of such good quality that when it reaches the customer's doorstep, it should impress them and justify their purchase. The best way to enhance the product development process is to use lean startup methodology and minimum viable product (MVP) technique. By this methodology, you can reach out to customers sooner and check the viability of your product. It will help you to improve the product quality and make it as per the requirements of customers.
If you want to gain consumer trust in no time, then offer the best quality customer support services. You can organize several online and offline campaigns to get reviews about your products and services from your customers. You can use various VoIP based and telepresence software-based customer service to offer a quick solution to customer queries. It will assist you in gaining consumer satisfaction and will prevent you from losing credibility.
Rating and reviews
Always ask your trusted customers to do ratings and reviews of products and services offered by your company. According to a survey conducted by Dimensional Research, 90% of the customers make decisions to buy a product by getting influenced by reviews. Businesses with more than 1,000 reviews have received 672 percent more leads and 18 percent higher ratings.
Negative reviews also assist in gaining customers' trust. It is observed that businesses with 10 to 30% negative reviews have made customers trust the available reviews. These businesses have more than ten times more leads than businesses having all five-star ratings and reviews.
Create SEO friendly content
If you are using Digital marketing to make your product reach billions of people, then you should use the right content strategy.
Understand your audiences and their interest, do proper keywords research, and produce content that engages audiences. Do good research on competitors' websites to get an idea of the content and reach the target audience. This will help you in building good consumer trust.
Use social media to get in touch with fans
Social Media has always taken a significant value-oriented proportion for building consumer trusts. With 3.5 billion social media users, it has always assisted companies in making the customer's awareness of their brand value and building strong relationships with them.
The Companies must look into social media trends in the market and also make proper use of platforms like Facebook because it holds 68% of the total social media users. It is found that 73% of marketers believe that Social Media marketing is highly effective and assists in building customer trust, and 71% of the customers have a positive impact on social media.
Make company information easily accessible
Transparency between the customer and company leads to building consumer trust wisely. In the present era of Digital marketing, always keep all important information easily accessible to customers to build trust and encourage consumers to use your services.
Case study and testimonials
Publishing case studies and testimonials on the internet helps to gain customer trust quickly. It is observed that:-
- 70% of buyers trust the reviews and testimonials from strangers, and 88% believe in reviews and testimonials shared by their friends and relatives.
- 72% of the customers believe in positive reviews and gain trust in the brand to buy products and services.
Customer trust plays a vital role in building brand value and retaining your customers. Therefore, every business should focus on the above suggested various methods to enhance customer trust and productivity of the company. Companies should also focus on keeping their business digitally active and sound because a good online presence has a great impact on building consumer trust in the digital marketing environment.
Rakshit is a content marketer at PeddleWeb, an internet advertising company in India. He holds spectacular skills in digital marketing, branding, lead generation, customer retention and few more.