Aug 29, 2020
5 New Rules Guaranteed to Build Trust
A lot of Behavioral Economics can feel intimidating. However, it doesn’t have to be. The Five Rules Podcast Series is our attempt at giving you an easy entry point into the complex and messy world of Behavioral Science.
When you choose to do business with a company, which do you prefer, Company A, that you trust, or Company B, that you don’t? If you chose A, then you chose wisely—and you decided to like your customers would.
People like to do business with people, brands, or organizations they trust. This episode of The Intuitive Customer shares our five new rules guaranteed to build trust. With trust, you can have the kind of relationship that yields the customer behavior you want to get the customer-driven growth you need.
What Are The Five Rules?
The five rules guaranteed to build trust are not complicated. Instead, the rules are simple, or at least simple to say. Doing them is a bit more complicated—but still not that hard. Here are the five rules:
The 5 New Rules Guaranteed to Build Trust
1. Remember that trust is earned, not given.
2. Be authentic.
3. Be transparent.
4. Do what you say are going to do.
5. Be consistent.
What Should You Do With Them?
Remember that trust is earned and not given. If you think about it, none of us start off trusting people (in general), which is especially true with businesses. However, if you approach customers with a deliberate strategy with specific actions designed to build your credibility, you can earn people’s trust and deepen your relationship with them.
Be authentic. You can build trust when you are genuine with people. However, people still won’t necessarily believe you are sincere. So, one way to show your authenticity is to offer a contract. Contracts can provide peace of mind that you mean what you say, and if you don’t deliver, the customer has recourse. Contracts also help customers relax and let you do what you do without feeling the need to watch you or micromanage the project, which gives everyone a little more room to work.
Be transparent. Along with authenticity, letting the customers know everything is another way to prove you are genuine. This policy includes lousy news. There is no point in hiding bad news; the customer will find out anyway, and it will be that much worse that they didn’t find out from you. The same goes for mistakes; admitting them and trying to correct them goes a long way to prove that you are a trustworthy company or individual that customers can rely on. Furthermore, suppose you have a good standing with your customers, what Stephen Covey’s book The Seven Habits of Highly Effective People calls an emotional bank account, customers will usually forgive your mistake without losing trust.
Do what you say you are going to do. Actions speak louder than words. So saying you are going to do something isn’t enough; you have to do it. If you always do what you say you are going to do, people will learn to trust your words.
Provide consistency. The continual delivery of customers’ expectations leads to trust. Moreover, it makes a brand promise that can follow you all over the world. For example, people know when they go to a Hilton anywhere in the world, they will get roughly the same level of experience. Another example is being consistent about many of the little things in a Customer Experience. For example, when we choose a specialist for medical care, we don’t always know if they are “good” at their job. However, we do know that the office appears organized, that they always listen when we talk and look us in the eye when they speak to us. While these little things do not tell us explicitly that they are good at what they do, they do indicate a level of trustworthiness that helps us move forward without as much stress about it. Don’t forget all the little things when you are interacting with customers, because what seems like an irrelevant detail might have more impact on your relationship with customers than you might think.
To discuss this further contact us at www.BeyondPhilosophy.com
About Beyond Philosophy:
Beyond Philosophy help organizations unlock growth by discovering customers' hidden, unmet needs that drive value ($). We then capitalize on this by improving your customer experience to meet these needs thereby retaining and acquiring new customers across the market.