Ultimately, all of your business growth comes from the trust you build with customers. This process begins at the first Google search, so many businesses are invested in digital marketing, When considering a digital marketing vendor, you need to understand what a they can actually accomplish for you and what steps you need to do yourself, as well as how to develop a process to build trust with your customers and win more business.
For a customer to have trust in your business, you have to bring them across a certain threshold. This is going to be different for every business. If a customer perceives a product or service as high risk, it is going to take more trust to cross that threshold than if they perceive it as low risk. Some factors that are associated with a higher risk are things like cost and the degree of complexity. For example, it takes a lot less trust for a customer to buy a sandwich than a new car or a piece of financial software.
To get rid of some of that risk, you can do certain things to build the trust with your customer. You might consider:
- Offering a money-back guarantee
- Eliminating long-term contracts
- Sharing referrals and reviews
Trust is all about building relational equity. Relational equity is the idea that every time you do something that exceeds expectations, you build trust, and every time you fail to meet expectations, you lose trust. The goal is to over time build up enough relational equity that even if you make a mistake here or there it does not wipe out all of the customer’s trust.
Even with this relational equity, there are still things that will almost definitely break trust. Some examples of this are:
- Being Prideful and Arrogant
- Neglecting a Customer
- Poor Communication
- Making Errors
- Overpromising and Under-delivering
The Trust Building Touch Points
The Growth Track process, also known as your sales funnel, is a basic framework for building trust with customers. No matter what product or service your business provides, this can serve as a guideline for moving someone from your service obtainable market, to a lead, to a prospect, to a customer.
The Challenge of Digital Marketing Providers
Many small businesses are drawn to a digital marketing vendor that is able to execute a campaign at a much higher level than they are able to. These businesses have professionals in fields of design, copywriting, SEO, and branding, but there are still limitations to what they can do for you.
One thing to remember is that much of the trust building process with a prospective customer happens outside of the scope of digital marketing, so there is only a certain portion of this process that a marketing provider is handling. Digital marketing providers are also expensive, so a small business will often only be able to pay for an initial launch and a small amount of help after that, when it is almost always better to start with the basics and carefully craft your content from there. Many small businesses do not have the funding to work in the close collaboration necessary to make this happen.
Small business owners need to understand that while digital marketing is important, it’s only a small part of the sales funnel, and that no amount of lead generation will make up for a poor process of building trust with customers. If you have a spectacular trust building process, you’re not going to need as many leads because you will be far more effective at closing them.