In our last blog, we discussed the merits of being a trustworthy business. As Entre-Propel.com puts it, it’s kind of a rhetorical question to even ask if trust is important in a business. In fact, could there be anything more important? A story about one of our friends having a bad experience with a car rental agency in our last blog is a perfect example of how a lack of trust can significantly hurt your business.
It pays to keep to your word and honour what you tell your customers. On Entre-Propel.com, Matt Thomas outlines the many benefits business owners may enjoy when they exhibit traits of being trustworthy. Firstly, he states that to gain such a positive reputation, your company must appear trustworthy to everyone who comes in contact with it.
“This includes your customers, suppliers, employees…even your competitors,” writes Thomas. By communicating that you are a trustworthy brand, you greatly increase the chance of having customers wanting to do business with you. Naturally, this is one of the key benefits.
Your customer loyalty will increase, says Thomas. When you are a trusted brand, you encourage repeat buys. At MeloTel, we are only too thrilled when we hear back from customers who we have serviced in the past. It brings us just as much joy when we hear from new customers who have been recommended to us from other satisfied clients.
Another benefit to being trustworthy, according to Thomas, is that suppliers will end up helping you through difficult times. He reminds us that being trustworthy does not stop with your customers. If you’ve gained the trust of your suppliers, you are more likely to have them be pretty lenient on you in the event that you have any late payments.
Remember that trustworthiness helps your company shine far beyond the reach of your clients. Thomas notes that your competitors will gain higher respect for you. After all, you don’t want them to be speaking poorly of you. In fact, it helps to show you are trustworthy when you refrain from speaking ill of your competitors as well.
When you can be trusted, you will have a better workplace culture. Writes Thomas: “Having a unique and appealing workplace culture will have little effect if there is no trust in your organization. It will feel phony and hollow and will not catch on for long. The only way a unique and empowering culture will stick is if there is trust present in the work environment.”
Of course, there are many more benefits to gaining the trust of all those who come in contact with your company. Work to ensure that you are seen as trustworthy and you will experience them all!