Talking Brand Trust and Loyalty
Brand trust and brand loyalty seem like the same thing. A nice way of saying that your clients really, really like you, right? Well, yes, but there’s a bit more to it, especially from the consumer side.
What does Brand Trust entail?
Consumer trust has a significant effect on large purchase decisions, especially. It’s also the main draw for new customers and the reason previous customers come back. In other words, it’s what makes people feel like your brand will satisfy their needs! Marketing Charts reports that 33% of consumers say trusting a brand is even more critical now as the majority of consumers don’t have the financial ability to make any unsatisfactory purchases. The recent increase in online shopping has us sharing more personal information with brands than ever, and it is this increased frequency of sharing of personal data that has caused over 35% of consumers globally to place even further importance on brand trust. Brand trust is as intangible as it is valuable, however, which can pose a barrier for some brands trying to increase feelings of loyalty in consumers.
Trust is determined by the customer and based on several factors that may be out of the brand’s control. Factors such as:
– the customer’s perception of the product
– their individual experience with it
– expectations of the product
– the brand’s ability to bring their promises to fruition
– other customers’ reviews and experiences
Salsify reports that, on average, customers feel confident in their purchasing choices after reading about 100 reviews. So it’s not just one customer’s needs that need to be met flawlessly by a given brand, the vast majority of customers need to feel that way too. Positive customer experience will serve to bring in new customers and, of course, ensure the ones who have already purchased to feel confident enough to buy again. Your audience is searching for proof among their peers that they are making the best decision in trusting your brand to meet their needs.
Now here’s where brand trust gets even trickier. Brand trust is a direct line to brand loyalty. And as you might assume, you can’t have one without the other.
Benefits of Brand Loyalty
The great thing about building unshakeable brand trust is that once it’s there, customers will continue to purchase from and interact with your brand. 75% of consumers report that they would continue to buy a trusted brand’s product even when given the choice of a new, trending product instead. Loyal customers can be your greatest advocates and a captive audience for your marketing materials. Just like brand trust, brand loyalty needs to be tended to and maintained continuously for customers to feel the drive and benefits of remaining loyal. Socialnomics has a few tips to help cultivate brand loyalty:
- Consistently engage with your customers
- Focus on the value you’re offering customers
- Maintain brand consistency
- Provide customer service at all touchpoints
- Take all feedback and pivot as necessary
Brand trust and brand loyalty are what comes from a brand that is transparent, honest, and connects with its customers to the best of its ability. Now especially, customers are looking for brands that care about more than their bottom line. Consumers want brands that do what they say while showing compassion for their communities, customers, and commitments. Your campaign might look better than the competitor’s, but consumers will ultimately go for the brand that makes them feel safest and most confident in their products. That sounds like a brand you want to be, right!?