Brand trust is the confidence that customers have about the brand’s ability to achieve the promised services and conditions. As a brand meets the expectations it has created in the minds of customers over time, brand trust increases.
What factors affect brand trust?
Brand trust is formed under the influence of the following factors:
- Quality of provided products and services
- Positive comments from third parties who have used the brand’s products or services
- Cost ratio and quality of products and services
- Speed and quality of customer service
- How the brand treats its employees
- How to run the brand politically or philanthropically
- Customer information security
Creating loyalty: brand trust can be considered a basic prerequisite for brand loyalty.
Brand ambassadors: In addition to increasing the repurchase rate of the brand, customers become brand ambassadors through word-of-mouth marketing and describing the brand to others, which is effective in strengthening the credibility and reputation of the brand.
Brand awareness: Talking about the brand and its reputation helps to increase brand awareness.
Reaching new customers: brand trust leads to the generation of new customers, and customer interaction with the brand, and as a result, the purchase rate increases.
Long-term cost savings: With a large number of permanent customers, marketing efficiency increases. Also, because of brand trust, customers are willing to pay more for the products and services of the trusted brand.