When consumers trust a brand, they're 53% more likely to buy new products from that brand and 69% more likely to be loyal to that brand over the long term. If you don't build brand trust, you'll lose sales and customers.
How do you build brand trust? It's all about using the data you collect.
Consumers increasingly buy only from brands they trust
Brand trust cannot be bought, it can only be earned
To build brand trust, use the data you collect to better understand customer wants and needs
Build brand trust with authentic activities such as encouraging reviews and other social proof, creating a more personalized customer experience, and building stronger relationships with customers
Why it's important to build brand trust
According to the Edelman's Trust Barometer Special Report, brand trust is one of the most important factors in making a buying decision. Edelman's research reveals that:
Brand trust is the second-most important factor when making a purchase (price is first)
70% say brand trust is more important now than in the past
78% say they're likely to share their positive opinions of a brand they trust
In short, consumers who trust your brand will purchase your product even if it isn't the cheapest option, and they'll tell others about your product. That's why brand trust is essential in today's market.
How to use data to build brand trust
Building brand trust isn't easy. You can't just take an advertisement and tell people to trust you; you have to earn their trust through the actions you take.
Fortunately, you can use the data you collect on a regular basis to help build that brand trust. Your customer data will tell you what you need to do and how to do so in the authentic fashion that today's consumers value.
1. Engage in customers' preferred channels
The first way that data can help build brand trust is to identify how and where customers interact with your brand. Consumers today interact with brands via several different devices, including their smartphones, and in a variety of channels. They want to do their own research, their way, and won't be swayed by a one-way message delivered via traditional advertising. Instead of passively consuming ads, commercials, and other antiquated marketing communications, consumers:
Read online reviews and customer testimonials
Search Google, Yelp and other review sites for product information
Ask their friends and family for recommendations
Listen to influencers and others on social media
To determine exactly what channels different types of customers are using, rely on your data. Once you know where your customers prefer to interact with you online, you can come up with a strategy for building your relationships in those channels.
2. Build social proof
Social proof encompasses all the comments, reviews, and ratings about your brand left online by consumers and other sources and it's essential for building brand trust. According to a Trustpilot survey, 89% of consumers check online reviews before making a purchase. To garner customer trust, your brand needs to both build and manage its social proof.
Image Source: https://blog.loomly.com/brand-trust/
Consumers view social proof as more authentic than traditional advertising and marketing activities. You need to encourage your customers to rate your products and leave reviews online – hopefully, positive ones. You can do this by using CRM software to communicate with customers post-sale. Ask customers how satisfied they are and offer links and other easy ways to leave their feedback on various review sites.
3. Encourage user-generated content
Review sites shouldn't be your only focus for building social proof. You should encourage customers to talk about your product wherever they live online. You want customers to:
Discuss your brand on Facebook, Twitter, LinkedIn and other social media platforms
Take photos of your product in action and post to Instagram, Pinterest and other photo sites
Create videos featuring your products for YouTube, TikTok, Wistia and more
Word-of-mouth marketing is the most authentic exposure you can get for your brand. When customers talk organically about your product, it builds brand awareness and persuades others to see what the buzz is about.
4. Create a superior customer experience
Another effective way to utilize the data you collect is to use it to create a better and more personalized customer experience. PWC reports that 73% of consumers say customer experience is a key factor in their purchasing decisions.
Analyze your customer data to determine how consumers are using your website, where they're entering and exiting, how they're interacting, and how effective your efforts are. Other data tells you what customers are looking for and why, as well as detail their online shopping behavior. Use this data to improve the experience you offer and to personalize that experience for individual customers.
5. Build relationships
All of the data you collect can help you build stronger, more personal relationships with your key customers. When you understand customer needs and build an experience that satisfies those needs via value proposition and following through with your mission and purpose, you're helping to connect with your customers. Customers who leave reviews and talk about you on social media become personally involved with your brand. Use the data available to identify and amplify those interactions that build stronger relationships and yield more passionate brand loyalty.
6. Be authentic
According to Stackla's Consumer Content Report, 86% of consumers say that authenticity is key when deciding which brands to support. Brand authenticity means that what you say and do as a brand is real, it's not just something you're saying to generate sales. You can't say one thing and do another.
Leverage the data you collect to reinforce your authentic message across all viable channels and activities. An authentic brand is one that consumers can trust.
The following video details five ways you can build your brand authenticity:
Let Optimizely help you use data to build brand trust
Optimizely employs big data analytics to collect customer data from a variety of sources then analyzes that data to better understand your customers. This helps you deliver a more personalized and authentic user experience across all channels and media.
Contact Optimizely today to learn how you can use data to build trust in your brand!