BUSINESS GROWTH AT THE SPEED OF TRUST

Businesses battle dozens of challenges every single day so it's possible that they overlook the importance of the small but critical aspect of “Trust”. Trust as defined by the Merriam-Webster dictionary is “Assured reliance on the character, ability, strength or truth of someone of something."  Or more simply put “Trust is confidence in the honesty or integrity of a person or thing”.

When a business reaches out to another for a solution it is a person from one company that talks to a person from the other company. That call or communication leads to more calls and meetings but only if Trust is being reinforced at each stage of the relationship. Hence whether the relationship is for business or personal reasons… Trust is the guideline for continued progress.

 

5 pillars that all businesses should follow to ensure that Trust is continually being established:

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HONESTY

Would you trust someone who lies to you? Someone who constantly comes up with excuses? Someone who always told you what you wanted to hear? You would trust someone more if they made a mistake and owned up to it by telling you about it .

Consumers can sense dishonesty a mile away. You may be able to fool them once but never the second time. Plus they will go out of their way to call you out if you have been dishonest with them.

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TRANSPARENCY

Would you trust someone who holds back information from you? Or intentionally shares selective information with you? Someone whose thoughts, actions and motivations seem murky?

Consumers may not know everything that you know and rely on you to be transparent with them at all times. Transparency allows for them to forgive when you make a mistake.

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ACCOUNTABILITY

Would you trust someone who doesn’t keep their promises? Someone who doesn’t follow through on their commitments? Someone who didn’t bother to explain their actions or decisions? Someone who was unwilling to accept responsibility for their actions?

Consumers like to tally your words with your actions. Transparency allows for them to forgive but Accountability allows for them to believe that mistakes will not be repeated.

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ETHICAL ACTION

Would you trust someone who acts contrary to what society deems are good values? Someone who acted wholly and solely for their personal benefit at the expense of others?

Consumers like to associate with business that share their values. They don’t see themselves as retards and therefore don’t want to be associated with businesses which behave unethically.

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PROOF OF ALLIANCE

Would you trust someone who did not have your back? Someone who didn’t take your interests into consideration before acting? Someone that acts only in self interest?

Consumers like to feel that you have their best interest first not their wallet or what you can get from them.

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Trust is only built over time and over multiple interactions. Even after spending time and making efforts towards building Trust, there is no guarantee that consumers will trust you. The other side of the coin is that over a period of time and the efforts you invest in building Trust with you prospect consumers, you will figure out if that person is worth the time and efforts you are investing.

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Related Reading: How to leverage human emotions to attract attention and sell better​,  Customer Centricity, How Influencers marketing actually accelerates growth and sales