As a marketing or sales professional, your ongoing responsibility to build and maintain trust with both current and prospective customers is never truly finished. In today’s noisy and competitive landscape, figuring out where to start can be daunting. Insights from our 2024 Media Consumption Study highlight key considerations for establishing trust with buyers.
Vendor Loyalty is Weak Among Consumers
To understand the significance of building and maintaining trust with potential and existing customers, we see that vendor loyalty is notably lacking. Our study shows that 46% of respondents have switched vendors for a product or service, indicating that retaining current customers requires just as much attention as attracting new ones.
Customer trust is an invaluable asset that strengthens relationships and reduces the need to seek new leads when a customer departs for a competitor.
On a positive note, 59% of survey participants have added new suppliers to their portfolios, reflecting stable budgets and investment rates. This trend presents a great opportunity for you to reinforce your brand and engage with new prospects who could benefit from your offerings. However, be aware: failing to maintain strong, impactful relationships may lead customers to choose other providers.
Nurturing and Supporting Customers Post-Purchase
Once a buyer becomes a client, there is a significant opportunity to further build trust from the moment of purchase. After closing the deal, share best practices and tips for using the product or service. Keep customers engaged by providing relevant market insights, trends, and product updates regularly. Post-purchase nurturing is especially crucial, as half of tech buyers report purchasing additional products from their current vendors.
From a product perspective, don’t hesitate to share your competitive pricing while highlighting what makes your solutions unique in your marketing strategy and promotional efforts. Stay responsive to market changes and customer needs by continuously enhancing your offerings with new features and capabilities that encourage ongoing spending.
Additionally, it’s important to acknowledge that many buyers have significant concerns about trusting AI solutions.
Let’s address the significant concern surrounding artificial intelligence (AI). Misinformation, manipulation, and impersonation related to AI are top issues for many consumers, as highlighted in recent studies.
Our own research reflects this sentiment among buyers. A striking 91% of B2B buyers prioritize information from trusted experts over content generated by tools like ChatGPT or other generative AI. Buyers place high value on research and analyst reports, case studies, technical advice, white papers, webinars, and vendor reviews when these materials are authored by recognized experts. Therefore, organizations should focus on leveraging expert and analyst content to enhance credibility and cut through the market noise. If your teams plan to utilize AI for content generation, it’s best to concentrate on producing infographics, news articles, and blog posts.
Build Buyer Trust with Engaging Content
Today’s buyers are spending more time engaging with trusted independent media, analyst sites, and expert advice than with any other type of content. By incorporating these elements into your content strategy, you can better convert potential prospects and maintain engagement with existing customers. Additionally, promote this content across various channels—such as lead generation campaigns, nurturing efforts, and social media platforms like LinkedIn—to maximize visibility.
Establishing trust with both prospects and customers should be central to every message and communication you share. By employing this approach, along with the strategies outlined above, you will be better positioned to earn and sustain that invaluable customer trust—the key asset that allows you to retain loyal customers and successfully close deals with new prospects.
