Consumer trust is vital in today’s competitive eCommerce landscape. Regardless of how big or small a business is, we all want customers to trust us enough to purchase from our stores. In fact, a survey of 24,000 internet users, 49% said lack of trust was the reason they didn’t shop online. While a Salesforce Report found 95% of customers are more likely to be loyal to brands they trust.
After all, it is trust that helps you build online credibility, attract new customers, strengthen relationships and ultimately increase your bottom line.
But where and how do you even start building customer trust? Payflex outlines 5 key strategies to help you understand, build, and maintain consumer trust:
First Impressions Are Lasting
First impressions are central to building consumer trust. This means you need to ensure your site is not only aesthetically pleasing, but easy to navigate. In addition, you need to ensure you offer payment variety at checkout. By providing multiple payment options, you can ensure a smooth checkout.
The Inspiring Trust In The Digital Economy Report echoes this. It found site design an usability, the presence of familiar payment brands and buy buttons and reviews and recommendations send important “go/no” buying signals to first-time digital shoppers.
Don’t Overpromise
Don’t provide customers with false expectations. Nothing destroys trust faster than overpromising and underdelivering. Therefore, make sure you provide realistic and achievable promises from the start.
Security & Consumer Trust Go Hand-In-Hand
Cybercrime is on the rise. What’s more, the pandemic has created an opportunity for even more online scams. Therefore, protecting your customers’ data security and privacy is central to building trust. In a survey by KPMG of 18,000 online consumers in 50 countries, 41% of respondents said having control of how their personal data was used was more likely to make them trust a company. This was especially the case in North America, Europe and South Africa. Make your customers feel safe by highlighting your trust badges, SSL security symbol and privacy policy.
Let Shoppers Hear From Others
Consumers want reassurance before committing to a purchase. Which is where online reviews come in. In fact, 93% of customers read online reviews before buying a product. Therefore, make a point of highlighting customer reviews and feedback. This will strengthen the quality of your products as well as your website’s reputation.
Communication Is Critical
Make sure you are transparent with your customers when it comes to shipping, delivery, return and refund policies. This can be achieved by making them accessible and highly visible to enable consumers find them quickly and easily.
Consumer Trust A Key Currency
Simply put, trust offers eCommerce retailers a competitive advantage. But, it is important to remember that trust must be earned. In addition, it doesn’t happen overnight. It will take time and effort because building customer trust is an on-going journey that all retailers have to constantly work on. But those eCommerce retailers who sit up, take notice, and prioritise consumer trust and transparency will most certainly set themselves apart in the eCommerce space over the next few years.
