How CRM can boost consumer confidence
For brands today, building trust is a big deal. Consumers can share their experiences with others in just a few clicks, so it’s essential for brands to establish a positive reputation to maintain trust with their audiences.
But that trust doesn’t just happen; it’s earned. Building trust with consumers requires brands to deliver world-beating customer service and live up to their promises. It takes honesty and transparency in business practices, pricing, and policies.
So how do you measure consumer confidence? For that, we have the Consumer Confidence Index (CCI). The CCI is a measure of consumer attitudes and behaviours toward the economy and their financial situation. And it’s a powerful tool for every marketer. But why?
When consumer confidence is high, consumers tend to spend more, which boosts the economy. But when economic conditions hit a downturn, the opposite happens, and consumers spend less. By using the CCI, marketers can predict these trends and adjust their marketing strategies and media spend accordingly. This is especially important when consumer confidence is low, as maintaining trust with customers is essential during challenging economic times.
CRM enables a business/brand to gain more knowledge and data insights, which enables us to drive better engagement but knowing what to say, and to whom & when it’s most important.
One of the biggest ways to gain trust for a brand is authenticity, and CRM gives us the insight to build and maintain that.
Here are some top tips for building confidence with your customers:
- Plan ahead. Use the CCI to examine consumer behaviours and trends to help plan your marketing strategy and media spend.
- Listen to feedback and use it to make positive changes to the customer experience. Customers appreciate being heard and seeing their feedback acted upon.
- Use good quality design that’s aligned with your brand messaging and values. Poor quality communications can cause customers to have second thoughts on a purchase.
- Ensure consistency across all communications and timely delivery of them. This helps to build trust and reliability with your customers.
- Personalisation is key. Use data enrichment as a tool to make your customers feel special and valued at every stage of their journey with you, including email.
By using data insights such as the CCI, you can form a better approach to building confidence with your customers and get better results from your marketing campaigns. And at the heart of those relationships is a strong CRM strategy.
80% of consumers have a favourite brand because that brand provides a consistent customer experience**Source: Cheetah Relationship Marketing eBook
No matter what sector, industry, or type of organisation your business belongs to, customer experience is important and can have an impact on your brand. And in a world of omni-channel campaigns and complicated rules around third-party data, your CRM strategy needs to be watertight if you’re to get that experience right.
At Flourish, we specialise is creating unforgettable customer journeys that lead to deeper, more meaningful relationships with your audience. Want to know how we do it?
Get in touch with our friendly, expert team for a chat about how we can help you optimise your CRM programmes and build trust with your audiences.