Earning the Customers’ Trust: Secret of a Successful Business

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A successful business is based on one simple concept: trust.  However; it is an unavoidable fact that earning this trust is not so easy. Especially, earning this trust as an online merchant is a big deal.

The importance of trust

If you ask any salesperson if there is any weapon more powerful from pricing, most of them would tell you it’s a customer’s trust, no doubt. According to research, 75 percent of customers cancel purchasing a product in online store not because of the price, but because of trust problems. In contrast, when customers trust a store, 80 percent of the customers recommend it as a trusted store and also continue to use this store or brand.That’s why it is vital to build trust and strong customer relationships for companies.

Where to start..?

First of all, companies must understand how important it is to develop a unique customer relationship in order to perform distinctively in the market. Accordingly, focusing on what matters to customers and how it affects your business is crucial. After all, it is time to focus on understanding customers and their needs. Successful customer experience requires gathering and segmenting data about individual customers. Of course, this process can be quite difficult for companies, but it is efficient in terms of showing sensibility for each customer.

Time to show reliability

One of the most important steps in building a foundation of trust is: do not shake confidence of any of your customers. Even if a small detail can be enough to destroy trustworthiness, from customers’ perspective. Reason is clear, basically, when customers want to interact with a company, there is something they want to achieve. And somehow if they feel insecure, it can be the last time that you are seeing them.

Communicate, communicate, communicate

Frequent and honest communication is vital when it is time to build trust between your company and customers. The key point is listening and talking to each other. Strong communication is also the secret of a strong customer relationship, e.d. you can encourage customers to leave feedback about your product or service, and use their feedback in order to reach more customers.

Even though there are thousands of factors which affect customer trust online, understanding the importance of customers’ experience and then focusing on consistency of your business will help you get closer to success.

 

About Price2Spy

 

Price2Spy is an online service that provides comprehensive and suitable solutions for eCommerce professionals including; retailers, brands/manufacturers and distributors in order to stay profitable in the current competitive market conditions. If you want to learn more about what Price2Spy can do for your business, please get a personalized free demo or start your 30-day free trial.

About author:
Cahide Gunes is a Digital Marketing Manager at Price2Spy, an online price monitoring, pricing analytics and repricing tool used by eCommerce professionals from all over the world. She loves reading, writing and speaking about e-commerce, pricing, and competitive strategies. You can find her on LinkedIn.

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About Price2Spy Blog

This blog is a place for eCommerce professionals to discuss ideas, methodologies and strategies to compete more effectively in the ever more tightening world of online retail. We explore things like competitive price monitoring, competitor business intelligence, competitive pricing, and counter-intelligence in general.

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