In a recent study, Edelman found that while trust in CEOs has hit an all-time low. Businesses are still considered more trustworthy than governments, NGOs, and the news media. Building and maintaining consumer trust is essential for any business. To do this effectively, companies must avoid overspinning their messaging, using half-truths, and failing to read their audience. According to the 2021 Edelman Trust Barometer, business leaders must address today’s most pressing challenges and focus on social engagement.
Consumers are smarter than you think, they will find out if you try to fool them. Businesses must ensure that they back up their announcements with actual steps. Avoid overspin, as it has a significant impact on people and the long-term business protection. It’s also important to avoid half-truths and own up to any mistakes. Consumer trust, brand affinity, and sustained engagement are all built on honesty. Finally, companies must read the room and adjust their marketing efforts accordingly. By regularly checking customer sentiment and engagement, businesses can meet and exceed their ever-evolving preferences.
By implementing these three steps, companies can build a reputation as a reliable information source that people can depend on, thus engendering stronger customer relationships that stand the test of time. The consumer’s trust is a key component of the success and fuel for the long-term operation of a business.