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2 In How To/ Startup Life

Building A Currency of Trust

Building A Currency of Trust

Everyone wants their business to thrive and grow into a mega million dollar empire. The American Dream is still real and very much achievable. Several billionaires have gone broke and got their riches back. However, one thing most people don’t talk about is the currency of trust. For your business to grow people must trust you. You can have an amazing product, but if people do not trust you they will not shop at your business. 

The thought of building a currency of trust might sound strange to you, but think about it. Do you shop at stores that you haven’t built a rapport with, even if, its engaging them on social media?

Engage Your Customer

It’s 2014 and it is beyond crazy that people don’t engage their followers, but yet they want more followers. #HustlingBackwards as Sakita says. Social media can be very time consuming, however, if people are leaving the comments, questions, and concerns address them. On ICB Consults Instagram page I try to host a bi weekly Q&A session. It takes nothing to post a graphic then come back and answer questions. Do not delete COMMENTS! Address them. 9 out of 10 times someone has already screen shoot the damage in your comments. Address it. Trust me, I want to respond in a snarky way at some people then I think, no let me use this as a way to show amazing customer service and fix the issue. We all know people could click the link in the bio, but they aren’t. Simply answer their question. By you ignoring them it only sends them elsewhere to find the answer which only leads to possibly more confusion and a bad review of you and your business.

Go Above and Beyond For Customers Every Chance You Get

There are some businesses that really don’t care. They are just trying to get money for right now. Not thinking about long term plans. Just chasing dollar signs. Hence, why it takes weeks for you to receive your order. Or you have to dispute charges. Since, you are reading this we know you are not one of those companies. Use this to your advantage. Think about the service you want. Make shopping online easy; provide updated tracking information and insert thank you and care cards into packages. Or you could even upgrade shipping or throw a surprise just because gift in with their order.

Open Lines of Communication

This is different from the first point. I am an avid supporter of small businesses, however, it annoys me beyond belief when businesses fail to communicate in a timely matter. By effectively communicating with your customers you can uplift your business very fast. For instance, one store I liked shopping at had a happy hour sale. I ordered $40 worth of merchandise. Well, when I got my order it was not what I ordered. She wrote a note on the receipt that she ran out of material and exchanged my order for something else. No warning, just shipped it. When things like this happen email the customer(s) and offer a refund or an exchange for the item(s). Don’t assume! Also, I have seen on Instagram when businesses misplace orders, but they didn’t say anything until customers started revolting in the comments. Communicate what’s going on. People are very understanding, if you give them a chance.

Currency of trust is very important to a small businesses’ livelihood. People will trust you starting out but it only takes 2 seconds to break someones trust. Which can take years to rebuild.

What are your thoughts when it comes to building trust in small business? Have you ever lost trust in a business, please explain why.

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