Why Trust is Such an Important Factor in the Growth of Your Brand

Growing a business can be difficult and there are many factors that go into its success. Trust is one of the most important aspects that need to be considered as a foundation for that growth. Knowing how to earn it is one thing, knowing how to value it is another. 

If you wish for your brand to flourish, then it’s time you fully understand just how important it is to gain trust for your brand. 

Value to The People

Building trust through opening avenues for communication and dialogue means that your customers will be confident in your services. This trust gives them the understanding that they can communicate with you if they have problems with their products or services and that they are feeling heard. This can be done through reviews and community discussion. Bigger brands might have access to their own website blogs and forums. Smaller companies, however, can easily use platforms like Facebook or Reddit to create that sense of community with helpful tips to get people to join your Facebook Group. Retail now more than ever has become complicated. Many interactions are done online, yet people are looking for personal interaction and find value there. Trust provides that sense of worth to the customer, making your interactions, not just transactions but relationships for the long term.

Value to Your Products

Having a transparent company and business provides trust to not just your clients and audience, but the products itself. This is because the methods you gain that trust also provide value to your products and services through transparency and reliability. Your customers will put more worth in your products if you are clear and open with them about where your products come from, and how they are made. People are also more willing to place value in things that are made with care. Quality of quantity. This can be seen through reviews of products, as better quality and consistency help you and your brand become someone customers can rely on.

Mistakes Can Happen

No one is perfect, and companies are no different. Brands can make mistakes and missteps. If your company has a long history of being trustworthy and owning up to mistakes by taking responsibility, it will put confidence in your clients that you are going to do what you can to correct problems and fix such mistakes. Having this type of relationship gives you and your company the benefit of doubt when it comes to problems arising. Companies that lack trust or have lost it among their audience are less likely to be given second or third opportunities. 

Value for Your Team

One of the most important ways to grow is from the inside. Growth from inside your company is just as important as the growth with your audience. Your staff and employees are the ones that are going to help your brand progress. If you are a company that is built on trust, that will translate to the workforce. Having the trust and understanding that the company is all about quality will promote your team to push out quality work. If they understand that your brand cares for them, they will be a lot more passionate about the work they do. The growth of your brand will depend on the trust you provide your team members and not just the customer.

Trust is a factor that can make or break your company. It also determines how much potential it has for growth. It is integral in the immediate and long term value of your products, and within your company.  Hence, it is of utmost importance that you develop and sustain that trust to foster the growth of your brand.

How Important is Your Business Reputation?

How Important is Your Business Reputation?

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What is business reputation and how important is it? Here are 3 things you need to know about business reputation.
How Important Is Business Reputation

3 Important Takeaways To Grow Your Business Reputation

Business is often all about who you know, how you manage relationships and what people think of your brand. In lots of ways, business is like a playground popularity contest: you are always vying for attention but wary that your reputation could be lost to a competitor at any moment. 

97% of business owners believe that online business reputation is important but the real question is what influences your reputation in the first place and how can you manage it?

The Genuine Article

Your business reputation is often reduced down to the products and services you provide. If you are ripping people off with excessive costs or poor products, your reputation will undoubtedly suffer; on the flip side, if you are producing fantastic products that your customers can’t remember life without, your reputation will soar. 

What is really interesting, though, is how fake products imitating your good brand can impact your reputation. Customers who bought fake electronics frequently reported that they would avoid the brand in the future, even though the brand had nothing to do with the fraud. This just goes to show that while you must be thinking about how your business comes across from your angle, you must also be on the look out for fraudsters and make it more difficult for them to copy what you’re doing. 

A Clear Direction

One of the first things you should do as a beginner entrepreneur is to think about the direction you are going in. This means looking at your business and deciding what sort of impact you want to have and how you will achieve it. For example, a luxury soap company might want to bring fancy soaps to the people in an ethical manner and go about it by manufacturing onsite and avoiding products tested on animals. 

Once you have a clear direction, you must communicate that to your customers because this is what your reputation will be judged against. If you are consistent, stick to the rules you have set for yourself and you maintain your business integrity, your reputation will improve as more people trust you. 

Managing Your Reputation

Every company will have a problem with it’s reputation at some point. Perhaps you have been let down by malfunction during production or maybe you said the wrong thing to the wrong person. The fact is that managing your reputation is something you have to get used to and do every day - not just on bad days. 

A good way to manage your reputation is to talk to the people who matter most: your customers. Taking and responding to feedback positively is always a good idea but you should also put any suggestions that make sense into real action. Even if you had a problem, how you solved it can be a real boost to your reputation and show that you are willing to evolve and get better. 

Your business reputation isn’t static and will be affected by any number of things. The best approach you can have is to listen and respond positively. That’s the real magic of reputation management. 

Reginald Chan

Reginald Chan

A meticulous entrepreneur by nature, Reginald is a sought-after success coach, digital marketing consultant and TEDx speaker from Asia. Currently, he teaches others how to make money online for free.

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Young at heart and a deep passion for entrepreneurial success, Reginald is devoted to share everything he had learned about online marketing with the public. Follow him for more awesome postings.

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