[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.the-future-of-commerce.com\/2021\/04\/09\/how-to-win-customer-trust\/#BlogPosting","mainEntityOfPage":"https:\/\/www.the-future-of-commerce.com\/2021\/04\/09\/how-to-win-customer-trust\/","headline":"How to win customer trust: 5 strategies to earn loyalty","name":"How to win customer trust: 5 strategies to earn loyalty","description":"Customer trust is at the center of everything. Follow these five principles to understand, build, and maintain customer trust.","datePublished":"2021-04-09","dateModified":"2021-11-08","author":{"@type":"Person","@id":"https:\/\/www.the-future-of-commerce.com\/contributor\/marcia-yusavage\/#Person","name":"Marcia Yusavage","url":"https:\/\/www.the-future-of-commerce.com\/contributor\/marcia-yusavage\/","identifier":298,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/f9929f6ff16e34cd6d43daf18411658f8565960b4c0fd78662963005f1aa9afb?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/f9929f6ff16e34cd6d43daf18411658f8565960b4c0fd78662963005f1aa9afb?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"The Future of Commerce","logo":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2023\/01\/logo-foc-schema-app-1.png","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2023\/01\/logo-foc-schema-app-1.png","width":172,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2021\/04\/CustomerTrust_1200x375.jpg","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2021\/04\/CustomerTrust_1200x375.jpg","height":375,"width":1200},"url":"https:\/\/www.the-future-of-commerce.com\/2021\/04\/09\/how-to-win-customer-trust\/","about":[{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/cdp-customer-data-platform-solution\/","name":"CDP: Customer Data Platform","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Customer_data_platform"]},"Consent data management",{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/marketing\/customer-engagement-marketing\/","name":"Customer Engagement","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Customer_engagement","http:\/\/www.wikidata.org\/entity\/Q5196451"]},{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/customer-experience\/customer-experience-general\/","name":"Customer Experience","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Customer_experience","http:\/\/www.wikidata.org\/entity\/Q984142"]}],"wordCount":1046,"keywords":["Consumer Trust","Customer Loyalty","Customer Trust","Data Privacy","Trust"],"articleBody":"Why is customer trust important? It\u2019s been said that trust is the currency of business – earned in drops, lost in buckets. In an always-on world, competition is fierce and consumer expectations are evolving rapidly. In order to future-proof, brands must consider both how to win customer trust, and how to keep it.But the topic of trust isn\u2019t getting any simpler; few have mastered even the basics. Meanwhile, the subject of trust grows more complex and more critical every day, and threats to customer trust continue to mount. As consumer activity transpires online, so too does the storytelling of their experience. As a result, brands become equal parts product and customer experience. The answer to why is customer trust important is that the loss of trust can eclipse even the greatest product.We all want customers to trust us with their business. The goal is for our businesses to thrive and grow. But where and how do you start building customer trust?5 principles to understand, build, and maintain customer trustThere are key elements to crafting a strategy that fosters trust and loyalty.Here are the 5 principles to winning customer trust:Acknowledging when it breaks and doing better.The first thing to understand about building customer trust is what happens when it breaks.\u00a0Some customers will be dissatisfied and never return. They may tell you in a survey, or they may not. But some customer reactions to broken trust can venture beyond dissatisfaction into the realm of disvalue.Disvalue is a bigger threat than dissatisfaction. Disvalue can trigger protests, revenge behaviors, rule-bending, social media firestorms, lawsuits, and digital vigilantism. Conduct in business as you would in your personal life\u2014be accountable, open to evolution, and invested in the well-being of those with whom you interact.      When she talks, I hear the revolution: It’s no longer enough to hold the line                Consumers are driving the next great social change via their wallets, and no amount of advertising, PR, or marketing budget can overcome the power of consumers committed to purpose.      Build trust by matching perceptions and intentions. Your intention may be to create amazing experiences for your customers. But if customers disagree that you\u2019re delivering \u201camazing,\u201d then you\u2019re not in sync.For example, let\u2019s say you intend to make it easier for your customers to do business with you. Behind the scenes, extra steps are being added to the customer\u2019s account registration, verification, or check-out process. If that happens, your intention to create an amazing, easy shopping experience probably won\u2019t match your customers\u2019 perceptions of the experience. Extra steps add hassle to the experience, not ease, which erodes trust.Consider your actions and their impact on both your process and customers, by evaluating both sides to avoid unforced errors and foster more meaningful relationships.      Improving the customer experience: A CX checklist                Improving the customer experience is mission critical for brands. Here's a checklist to help you make your CX resolutions \u2013 and keep them.      Keep your eye on the ball (also known as the CX data). You need a mix of operational data and customer feedback data to really understand the story of your customers’ experiences with your company. If you\u2019re addressing CX in your business as a regular practice, then you\u2019re already reviewing that data set with your team at a regular rhythm and cadence.This data set may include  customer data collected with consent from your customer data platform (CDP).However, during times of organizational transformation,\u00a0it can be easy to take a break from triaging customer data with a team.\u00a0And that’s exactly when you can miss the early warning signs of waning customer trust.Make it a priority to review customer experience data. You could try a recurring calendar entry and establish ways of recognizing the individuals and processes that made the difference in CX.      What is Customer Data Platform? Can it improve CX?                A customer data platform is software designed to make sense of your customer data so you can engage with them on a more personal, effective (and valuable) level. But what does that mean for marketers? Executives? Customers? How do CDPs change their experiences?      Measure customer trust.Yes, you can measure customer trust!Keep in mind that trust is not the same as customer satisfaction or customer effort\u2014two standard things companies often ask about in customer feedback surveys.But if you\u2019re asking questions about satisfaction and ease, for example, then why not ask about trust, too?\u00a0It doesn\u2019t have to be complicated to start. There are many ways to ask the question.\u00a0The point is to care enough to ask. Then, monitor and triage the scores. The act of following up on responses is a valuable touchpoint and can lead to more insight.Context is everything with customer trust.Many people automatically divert to the idea that customer trust is about what is happening in your digital channels. Or that trust is about what\u2019s happening behind the scenes to protect a customer\u2019s data.Trust can be built or broken from details like the language used on an application form that customers fill out before receiving services.If the form is excessively long, contains jargon, or the flow doesn’t make sense, then the opposite\u2013distrust\u2013is happening.The same is true if you hide or omit contact information on your website. How can customers trust your business if it seems you\u2019re hiding something?Why is customer trust important?The power of customer trust is that it underpins every decision consumers make. Lose one customer’s trust and you run the risk of an online review or watercooler chat leading to the loss of trust of customers you never even had the chance to have.Earning and maintaining trust is a long game, with infinite potential for rewards. When you commit to folding customer trust into your definition of customer service and CX, you unlock the potential of enduring loyalty.At the heart of a customer\u2019s experience is trust.And winning that trust begins with understanding, building, and actively protecting it as a priority.  59% more contactable customers. 100% data security compliance. 10%-20% above average email open rate. Find out how it’s done HERE."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"2021","item":"https:\/\/www.the-future-of-commerce.com\/2021\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"04","item":"https:\/\/www.the-future-of-commerce.com\/2021\/\/04\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"09","item":"https:\/\/www.the-future-of-commerce.com\/2021\/\/04\/\/09\/#breadcrumbitem"},{"@type":"ListItem","position":4,"name":"How to win customer trust: 5 strategies to earn loyalty","item":"https:\/\/www.the-future-of-commerce.com\/2021\/04\/09\/how-to-win-customer-trust\/#breadcrumbitem"}]}]