Welcome to the Trust Economy

The credibility of your brand is what makes people trust your company. So, it is necessary to know how to build that credibility, to attract and retain your customers and generate a lasting relationship. Creating advocates for your brand.

If content is not relevant and interesting enough, it will have little or no impact to convince people. But, thinking a little further, it is no exaggeration to say that we are living in the “trust economy”. The goal of attracting attention is to create a relationship, in which strangers become followers and, finally, customers. Knowing that it is so important to establish a relationship of trust with your audience, the question is: how to increase the credibility of your company and achieve better results?

The importance of trust for the success of a brand

Customers are the soul of your company, the rationale for the success of your project. As in any type of relationship, trust is the determining ingredient in the link between the organization and its target audience. There are many companies that have been in the market for years (or even decades), with a bad reputation. It is true that some market niches are still "locked" by companies that did not meet the standards of the modern consumer, but that does not mean that they are an example to follow, nor that they will continue unharmed forever. There are at least 2 factors that prove the direct relationship between winning the trust of customers and the success of a business:

The key to lasting relationships

Brands are increasingly understanding the value of customer loyalty instead of selling on time. What is the key to keeping the customer for a long time? Exactly: trust! The better the customers' perception of a company, the lower the chances of finding another option in the market to meet their needs. But the opposite is also true. If there is no trust, the customer will not think twice before exchanging their products or services for a competitor who seems more reliable and competent.

In fact, a study by Label Insight shows that 73% of consumers consider transparency more important than price. Nearly 40% say they would switch from their preferred brand to one that offered more transparency.

Purpose is more important than convenience

Convenience is an important factor for consumers, even more with the rapid evolution of digital transformation. But there is something even more relevant than that: the purpose of a brand. This means that people are not only looking at your products and services or at your ability to deliver results. They are also thinking about the way you face their needs and the real purpose behind your brand. If they identify your company as a simple money generator, they might buy from you, but only for a while. Once a company with a nobler purpose appears, say goodbye to that source of income.

It’s time for brands to include trust as a core value in their strategies. Create trustful relationships in which strangers become followers and, finally, customers. Brands who truly understand the value of trust, purpose and transparency will win in today's world.

Trust me. Welcome to the trust economy.