Trust-Centered Marketing In An Age of Distrust
The last few years have been turbulent, to say the least. Society has had to cope with pandemics, isolation, civil unrest, environmental disasters, a mental health crisis, school shootings, political turmoil, fake news and war, not to mention privacy breaches, corporate scandals, mass layoffs and economic uncertainty.
As a result, consumers are feeling more uneasy, more uncertain, less connected and more afraid.
Brands like Facebook (which sold private data without consent); Uber (accused of employee harassment and sexual assault); Volkswagen (cheated on emissions tests); and FTX (defrauded investors) have betrayed our trust and have only made matters worse.
As a marketer, I see the signs of distrust appearing in the marketplace as indicated by the rise of:
Non-Linear buyer journeys where buyers avoid contact with sellers until the very last moment
Dark social channels where consumers go to obtain information and not be tracked
The #deinfluencer movement pushing back on false identities and false claims, now with 300 million videos featuring the tag
Decentralization including blockchain, web3 and NFTs in response to a distrust of financial institutions
Concerns around artificial intelligence and whether technologies and information can be trusted
In response, corporate revenue teams have placed a greater emphasis on interpersonal tactics, including:
Personal branding
Community-based marketing
Experiences (Including Events)
Recent studies have also pointed to the impact of consumer distrust and the need for businesses to focus on building relationships centered on trust. According to Adobe Research (2021), "71% of UK customers were likely to stop purchasing from a brand that breaks their trust." That’s quite a high price for companies to pay for losing trust with buyers. Another study, a survey of 1,700 senior marketing leaders by LinkedIn B2B Marketer Sentiments (2022), indicated that “The number one opportunity for B2B marketers today is investing in building relationships and trust with customers.” So, it’s clear that building trusted relationships with consumers is not some secondary strategic priority for brands right now, it is the priority.
Like it or not, we marketers and sellers must understand and then adapt to the current environment if we’re to help our companies succeed. And as concerning as the situation may sound, I believe it also represents an opportunity for brands. Want to increase sales and grow the bottom line? Initiate new connections and strengthen business ties by pursuing trust-centered relationships with prospects and customers.
I recently attended a Zoom interview with Ann Handley, best-selling author and Chief Content Officer for MarketingProfs. During that interview, she reminded us that marketing essentially has three functions:
Build Awareness - I’ve heard of you.
Build Affinity - I like you.
Build Trust - I trust you.
For this article, we're focusing on the third. And with so much emphasis these days on unifying sales and marketing efforts, it turns out that trust building is something both functions can achieve together!
So, how exactly do we build trust?
First and foremost, the starting point of every new relationship is important. A referral signals trust and imbues a positive reputation for the individual and company being referred. According to Hubspot, referrals also represent the lowest cost, highest value, and fastest-moving sales opportunities! So, how can marketing generate these all-important referrals?
Let’s recall that communications expert Marshall McLuhan once said, ‘The medium is the message.’ In marketing, generating a conversation based on an email blast or digital ad is quite different from initiating one based on an introduction from a trusted source.
In my nearly twenty years of experience marketing to Fortune 500 executives, I’d suggest a handful of trusted-oriented channels as a starting point for generating referrals. Those include:
Personal Branding
Thought Leadership
Communities
Live Events
Partners
Influencers and Consultants
Analysts
Press
Product Reviews
Next, it is important to understand that people don't actually connect with companies or products; they connect with the people behind the companies and products - their feelings, opinions, values and human stories. In fact, this is one of the primary justifications for personal branding. To reinforce the point, social media expert and author of 'Conversations that Connect,' Brooke Sellas reminds us that "Brands fail to connect in part because they communicate in cliches and facts versus feelings and opinions."
How trust shows up
Once a referral is made and a conversation is initiated, sellers get the opportunity to build trust person-to-person. And according to TED speaker and Harvard Business School professor Frances Frei, trusting relationships are built based on time spent together where three elements are present and exchanged:
Empathy - Deep listening that leads to understanding.
Authenticity - The courage to share honestly and be yourself.
Logic - The offering up of valuable insights.
In practice, this may look something like:
Asking for feedback and listening well.
Conveying their problem, the stakes and the dream.
Telling them a relevant (customer) story
Asking permission to email a valuable insight (framework, tool, research)
Requesting permission to schedule a valuable conversation (with an expert)
Finally, it’s important to remember that we all rely on trusted relationships even more during times of uncertainty. So I’ll end here by challenging each of us to facilitate conversations that lead to trust. It’s possible that there’s never been a more important time to employ a trust-centered approach in marketing and sales. Give it a try. Trust me, you'll be glad you did.
Need help?
AH Marketing is a full-service marketing greenhouse for companies that need a bit of sprucing. We support growing B2B businesses with marketing strategy, planning and execution that results in increased demand. Please contact us for help.
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