Many reasons influence a customer’s decision to purchase from a given brand or store, but trust is king in when it comes to building loyalty. It marks the start of long-lasting business success by fostering repeat buyers, referrals, and encouraging feedback. But it takes courage and patience to build trust; it doesn’t come overnight.
And for some sectors like health care, auto repair or child care service providers, building trust is something that should happen as soon as possible—they can’t afford the luxury of time because the survival of their small firms depends on winning a new customer’s trust. Such high-risk industries that have a tainted reputation and lost public trust and a new company owner must work very hard to prove their credibility.
Why build trust?
Customer recommendations by word of mouth can help bring in a stream of new buyers and expand your business.
It is happening at North West Bloor Motor Works, an auto repair shop. The company began in the 90s and has so far built a name. Now, it employs up to nine mechanics and fixes approximately 90 cars per week.
Isn’t it amazing how influential brand trust is, given that 20 years later the company still serves its old customers? “Our success still comes down to going an extra mile and giving a personal touch for every customer,” says Charles Bloor, the founder.
Goodwill is an intangible asset you acquire when purchasing an existing business. Much of what makes up its value are repeat customers, which is not very easy to get for a car mechanic merchant account holder.
That explains why you should handle every customer with care. Treat your customer just as you’d want to be treated and you can never go wrong. And while it is difficult to please or satisfy every buyer, you should do everything within your power to prove your trustworthiness.
Make you customers stay
Retain your brand’s logo and all aspects of your automotive repair business that makes it stand out. If your auto repair shop has a culture of checking engine oil before making a change, then that should stay.
Customers get attached to brands for different reasons. It is your job as the business owner to find out the level of trust your customers expect from you and what could make them lose faith in you. That way, you can walk your path carefully; avoid what could ruin your name and focus on what can better your bottom line.
Building trust as early as possible is one way to get ahead of you business counterparts. You not only win customers but also get to retain them.
Author Bio: As an account executive, Michael Hollis has funded millions by using alternative funding solutions. His experience and extensive knowledge of the industry has made him a car mechanic merchant account expert at First American Merchant.