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How to Build Customer Trust?

How to Build Customer Trust?

Business Management

The concept of trust is an important factor that needs to be considered not only in the commercial field but in all areas that require establishing relationships. Some research has been conducted on the concept of trust in fields such as sociology, psychology, organizational behavior, economics, marketing, etc., and it has been defined in different ways depending on the discipline examined. From a marketing perspective, it has been defined as the willingness to believe in the other party in an exchange environment who can be relied upon. According to another definition, it is explained as the belief in the reliability and integrity of an exchange partner. According to these definitions, the term exchange refers to the transaction that forms the basis of commerce, and the exchange partner or the other party refers to either the customer or the business. When examining the consumer trust concept, the feeling of trust that a consumer has toward a business or that a business has toward another business with which it has commercial relations is taken into consideration. The factors that enable a consumer to trust the company from which they purchase services are an important topic that needs to be emphasized. Trust is highlighted with concepts such as competence, benevolence, and integrity (honesty).

When competence is considered from a consumer perspective, it means that the business can effectively and successfully fulfill its responsibilities. Integrity (Honesty) is explained by the consumer's belief that the business will always make open and truthful statements. Benevolence is the consumer's thought that the business will act in good faith and behave beneficially. These three factors are indispensable concepts in the formation of consumer's sense of trust toward the business.

Customer Trust Characteristics

Trust is very important for the relationship between consumer and business. The importance of trust at this level means providing reliable relational investments with exchange partners, creating an environment for long-term and lasting relationships with existing partners. Additionally, trust includes the expectation of obtaining positive input despite the possibility of negative input as a result of the transaction made. Trust is the most important and only power in consumer and business relationships. In the service sector, businesses aim to establish a commercial relationship based on continuity with consumers. Along with this, services are consumed as they are produced, and it is not possible for consumers to evaluate the service before purchasing it. Thus, it is seen that the consumer faces uncertainty before purchasing the service. As uncertainty increases, the need for trust also increases. If a consumer wants to purchase a product, they want to trust the business from which they will buy the product. Thus, it means the consumer is taking on a certain risk. When a consumer trusts a business, two types of risk come to the fore. First, it is the possibility of failure at the end of the risk taken, that is, the situation of being dissatisfied with the goods or services purchased. The second is the waste of effort, time, and money expended. Trust is of great importance in reducing risk and creating loyalty in relationships between consumer and business.

When consumer trust toward service businesses is examined, two different structures emerge. These are related to trust in the business and the employee who provides the service. From the moment the consumer starts receiving the service, they start thinking about these two structures: the business and the service. The customer evaluates the business according to the management plans it applies while providing the service, and the employees according to their attitudes at the time of providing the service. Employee behaviors start to show the service or even the business more than themselves. In case of a wrong action by employees, consumer trust in the business will decrease. In the service sector, service providers that increase the level of trust perceived by consumers will increase the probability of continued purchases, and the risk perceived by the customer during the purchase decreases.

Customer Loyalty

Customers enter an evaluation based on the benefit they obtain for the business from which they purchase services. This evaluation is about comparing all kinds of resources spent by the customer when purchasing the goods/service with all kinds of benefits obtained. If the customer obtains a positive value in this comparison, they want to shop again from the business from which they purchased the goods/service. In short, the desire to repurchase is defined as loyalty. Loyalty is very important for the marketing field. In this case, loyalty is explained as follows. Customer loyalty is the tendency, desire, and behavior of customers to regularly, consistently, and continuously purchase certain products from the same business in meeting their needs and display a positive attitude toward the business. Customer intentions to do certain things to maintain a long-term relationship with the service provider are related to loyalty. According to research, customer loyalty consists of 3 dimensions. Behavioral loyalty is related to the customer's service purchasing behavior. Purchasing continuity, purchase probability, and purchase quantity reveal the customer's behavioral loyalty.

Attitudinal loyalty is related to the feelings the customer has toward the business, their cognitive approach, and level of knowledge. Consumers' strong or weak attitudes toward the business and high or low purchases affect loyalty. It is an inevitable fact that not every customer has the same degree of loyalty to the company. On the other hand, it is understood that loyal customers stay with the business for a long time, leave high profits, purchase more products, word of mouth marketing, and their price sensitivity is also low, which causes the business not to be affected by competition. Along with this, it is also observed that loyal customers do not leave the business even in negative situations.

Factors That Ensure Customer Trust

In a sector, consumers consistently preferring the same brand among different companies creates customer reliability. Customer trust shows that the consumer believes in the brand. Factors affecting customer trust include effective and accurate information about the brand, which plays important roles. Determining what consumers need and the work to be done, highlighting brand features and influencing consumers creates customer trust. Brands that can create a loyal customer base are in a strong position in their sectors. Factors affecting customer trust are as follows:

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