Today’s marketers face a very challenging job. You must completely comprehend and anticipate consumer behavior. You might be doing a lot more than you used to because many organizations are cutting back on teams and budgets. And with higher pressure on budgets, you’re probably facing more intense pressure to demonstrate ROI on each campaign as quickly as possible. Smaller teams, less budget, higher expectations, and more pressure.
It’s not exactly the simplest time for marketers, but investing in trust is an excellent way to help you solve all of these challenges at once. Chances are you’re probably doing some of this in the form of NPS or CSAT scoring to see where your business is at in terms of customer happiness and trust. Or different forms or social proof like customer reviews, case studies, or industry badges and awards. These are really important pieces to the puzzle, but they don’t capture the full potential of trust.
Trust is a marketer’s best friend — in nearly every way that counts
It’s not just about investing in a platform like Trustpilot that helps you collect reviews. It enables you to simultaneously solve a number of your issues, such as increasing the ROI of marketing activities and paid campaigns, accomplishing more with smaller marketing budgets, and better comprehending your customers in order to enhance your business for them. Reviews from Trustpilot have the potential to have a significant impact on conversion rates and your bottom line if utilized appropriately throughout the customer journey. Your CAC costs go down when used in paid campaigns. On your website, emails, and other free channels you can fully optimize those conversion rates as well. From their Trustpilot pages, businesses with a TrustScore between 3 and 4 convert 8 times more than those with a TrustScore between 4 and 5. A digital ad with a 5-star TrustScore, 3,000+ reviews, and a real review performs 34 times as well as the same ad with no Trustpilot components. Reviews can also have a significant impact on SEO, helping you find more customers for free without lifting a finger or spending a dollar.
And when it comes to better understanding your customers, we automate insights about how your customers feel about your business. We don’t just tell you how your customers feel; we also point out problems and exactly where you could improve customer satisfaction with your product or service. With easy to use custom review tags, you can monitor customer sentiment around any important metrics for your business. Our clients have used Trustpilot insights to improve a variety of things, such as adjusting prices in response to an excessive number of negative customer reviews that mentioned “price” and “value” or in-house medical claims because the outsourcing process was too frustrating for their clients. Our technology automatically flagged and brought to their attention issues in their operations that they had not previously noticed. Understanding how your customers feel about your business isn’t just helpful to businesses trying to improve for their customers. is also enormously helpful to marketers to better communicate with their customers and improve messaging. By knowing what your customers love about your business, you can increase messaging around those features. By knowing what they don’t love as much, you can improve messaging and communication so you’re not selling yourself on those features and leaving customers feeling unsatisfied.
It is uncommon for a single platform to address so many issues simultaneously. In addition, trust is the only investment that can have such a positive impact on each of a marketer’s greatest challenges, which is actually unsurprising given that headlines about fake reviews and consumer distrust are at an all-time high.