Trust is a premise for almost all positive human interactions in various contexts. Nevertheless, trust entails risk. There is always a risk of being let down by people once considered as trustworthy and the price of this can vary from loss of self-respect or friendship to financial damage. Therefore, trust can also be dangerous when it is betrayed. Chances of betrayal and risks can be minimized when trust can be justified since unconditional trust is unwise.
Thus, the concept of trust does not only concern the attitude of the trustor, but also a property of the trustee. The property of the latter is trustworthiness which consequently is a requirement for plausible trust.
Given the fact that trust is not only the corner-stone of our society, but also one of the most precious qualities in any kind of relationship, it is paradoxical that this asset has been overlooked for years in the business context. Executives have been referring to trust in broad terms, but the reality is that the integration of this value into business models and brands varies tremendously. There is no longer a need for the superficial approach to the quality of trust, but rather for its treatment as a core value.
Little research addresses the topic of mistrust towards brands from the perspective of an overwhelming ‘on-line’ world and the emergence of services.
When it comes to online consumer behavior, research has proven that the online environment by definition does not foster trust. Recent surveys in the US demonstrate that internet users are still reporting high levels of concern about the privacy of personal information and interaction with online brands in financial terms. It is a fact that online brands’ commitments are weaker than they should be due to the intangible aspects of the Internet nature.
Moreover, according to Nielsen’s Global consumer report, it is remarkable that, globally, one-third of online consumers say they primarily do their Internet shopping at retailers that have only an online presence (such as Amazon.com), followed by 20 percent of respondents who prefer sites that also have traditional “brick and mortar” stores and those that allow you to select products from multiple online stores.
Being able to understand and explain consumers’ online behaviors has been a key element in defining the brand qualities that will build trust online. There is a direct correlation between a consumer’s trust and their experience with the brand, as well as with their expectations.
The importance of brand experience from the consumer perspective is that it directly affects not only the satisfaction, but also the brand meaning. The resulting satisfaction with a brand is shaped, in a large way, by the consumer’s expectations. Consumer satisfaction with a product or service interaction is a function of the experiential outcome in the context of the customer’s expectations across multiple brand touch-points (Chris Rockwell, 2009). Thus, the outcome of each interaction/experience defines the brand in the consumers’ minds and influences the decisions concerning possible further interactions with the brand.
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In the first instance, e-brands, like all the other types of brands, come alive and are evaluated in terms of efficiency through the processes and the actual delivery of the brand promise during the customer experience. Consequently, the user/consumer should be the centre of this system of values and propositions. Additionally, taking into consideration the nature of the Internet context and its viral effects, it isn’t a matter of an individual approach any more, but rather concerns a new communal approach.
But apart from the efficiency through delivering the brand promise, what are the e-brand values that consumers would put their trust in?
- Security: While worries of personal privacy online have declined in recent years, security concerning credit card details remains high. Making it easy to locate, read and enforce policies concerning privacy and security, or even give easy access to past references related to security procedures, can always inspire a feeling of security to users. Moreover, getting certifications from specialized third party online security services such as TRUSTe, VeriSign, etc. conveys trust and safety.
- Responsibility: Clarifying the responsibilities of both parties can encourage further action. Full disclosure of any practical information, such as prices, taxes, fees and delivery, builds confidence. Encouraging communication in case of dissatisfying service, delayed delivery or faulty product, and taking immediate action when this occurs, fosters trust and builds a good professional image, along with a positive brand perception.
- User centralization: Branding online trust is a process during which the most important and fundamental element is the user. We are not talking anymore about consumers and customers, but about users and buyers. There are no physical touch points during the first approach with the e-brand and this underlines even more the role of the online user experience. User satisfaction has been placed at the very heart of most of the big online brands that have been examined.
- Connectivity: Using social media as a sales letter is a sure bet for disengaging with a community, as well as opening up the possibility of negative viral effects regarding your brand. This is the reason why it’s essential for e-brands to ensure that they monitor their social media accounts and immediately file responses. Understanding the e-brand’s necessity to reflect its values to a communal environment is vital.
- Engagement: The engagement element covers the vital process of communication. Allowing consumers to express themselves in direct conversation with the company might lead to surprising results. Listening to that audience and interested communities, along with encouraging collaboration, are the most effective ways of approaching online customers. Being able to contact support personnel can, obviously, increase consumers’ trust in an on-line brand.
Upon conclusion, the need to introduce the quality of trust as a core value into e-brands is fundamental, but needs time. It takes time to establish trustworthy relationships between brands and consumers because the brand needs to demonstrate competence in its performance. After all, trust is built through trustworthy customer experiences. Nevertheless, it should be taken into consideration that this value is quite fragile and requires consistency across all digital touchpoints and experiences over time.
Image source: Digital Trends