Here is why trust based marketing is crucial for brands

There are many kinds of marketing. You may have heard of digital marketing, gorilla marketing, ATL /BTL marketing, inbound marketing, outbound marketing, push/pull marketing and so on.

Have you ever heard of Trust Based Marketing? It simply means the customer trusts its brand and brand grows without the need of extra communication. The customer feels safe & happy with the brand and can talk about this brand proudly. Trust based marketing works with this base in mind, and strives to grow its market based on the customer’s faith.

It is increasingly important for businesses to build a bond with a focus on ‘Trust’ with their stakeholders such as customers, employee, partners, service providers and others. At the same time, brands should maintain the trust customers have showered upon it and never compromise.
The other salient elements of Trust based marketing are:

  1. Value – a brand must ensure that it is really adding value to customers’ life or the customer outgo is lesser than the value which customer is receiving.
  2. Permission based & Non-intrusive – Brand should not be disturbing or intrusive to customers. It can reach its audience based on personal attributes but should be entering into their personal life.
  3. Transparency – There should be open & frank communication. Customer should not be made to face unpleasant surprises.
  4. Cost – Customer generally feel cheated if they find they paid a higher cost for a product. A brand should ensure to make customers understand the quality they are getting for the higher cost they paid.
  5. Communication – Brand should ensure easy customer care support that provides quick and comprehensive solutions.
  6. Environment friendly – Brands should go extra miles to make customers understand what they are doing for the cause of environment.
  7. Accountable – Employees should be courteous with customers and in case if any customer undergoes bad experience, they should accept their mistakes and set them right.
  8. Easily Accessible – Brands should be easily accessible through the modes of communication that customers prefer.
  9. Long term vision – Brands must have long term vision & should not get into P&L or growth hacking mode for investors.

Once the trust is built, the second task would be to build a network for smooth communication. The networks should also allow its members to include others so that a trusted network expands. In this manner, the trusted network would grow the business and gain benefits in a long term.

We at http://www.refer247.in help brands to build a TRUST & also a network that would bring a set of new customers through the existing ones!

Some reference articles:
http://en.wikipedia.org/wiki/Trust-based_marketing
http://www.valuablecontent.co.uk/trust-based-marketing-4-ways-to-up-the-ante/
http://www.entrepreneur.com/article/224134

Don’t Expect Any Business Referrals Unless You Follow These 5 Rules

In today’s world, your most powerful salespeople are no longer the one’s you pay the big money to close the deals. You’re most powerful salespeople are your advocates – your customers that are generating business referrals and positively raving about your business to their friends and associates.

These customers are helping you grow your business by drawing potential leads away from the dark mass of your competitors and towards your bright light of hope.

Jeff Bezos, famous entrepreneur and investor once said, ‘If you do build a great experience, customers teach each other about that. Word of mouth is very powerful.’

Researchers have backed up Jeff’s thoughts with research finding word of mouth (WOM) has a greater impact on consumer behavior than traditional marketing methods. In other words, customers are more likely to listen to their mates recommendations, than a stranger on the web, TV or radio trying to sell them something.

More at http://blog.clientheartbeat.com/business-referrals/