“Trust is the heart and soul of business success on all levels. Nothing is as fast as the speed of trust. Nothing is as fulfilling as a relationship of trust. Nothing is as inspiring as an offering of trust. Nothing is as profitable as the economics of trust. Nothing has more influence than a reputation of trust” (Stephen Covey).
Trust is nice to have, but is it a critical business strategy? Absolutely. Sustainable and successful general contractors are built from trust. Trust is a lucrative business asset because it drives consumers to brands who will give them a greater chance of satisfaction. In other words, trust generates stronger customer relationships and loyalty, which then increases sales and growth.
Trust is big for BBB and its Accredited Businesses. According to our survey, 81% of 636 Accredited Businesses in the Construction and Remodeling industries (including general contractors), said BBB helped their business by building trust. Over 85% attribute BBB as having a positive influence on their growth in 2013. What kind of growth did they see?
-50% said their revenue held steady or increased up to 10%
-37% saw growth over 10%
-13% saw negative growth
For Richard and Marsha Shuck, from Four Seasons Developments, their BBB accreditation directs customers to their business and helps them close more deals. “If the customer doesn’t have trust in you and your business, they might as well just flip a coin to see what contractor to use. Being an accredited business helps us build that trust and takes out some of the guess work for our clients.”
Matt Gilpin, from Gage Construction, says “trust is the greatest component to a client-contractor relationship. Trust over cost, in my opinion, has a greater influence on whether or not a customer chooses my services.”
Anyone can claim to be trustworthy. But being BBB accredited means you aren’t just anyone. You distinguish yourself by proudly carrying and displaying the BBB seal, telling and showing consumers you are trustworthy. “A great product alone is not enough to drive sales. You also need trust. Every purchase is built on a foundation of faith--faith in your product and in your company to deliver on the results you promise. Trust drives advocacy and repeat business. Ultimately the success of all businesses is determined by the levels of trust they are able to build."
How exactly does trust help businesses grow?
1. You’ll be more competitive.
Since trust is very rare in the marketplace, you’ll be able to stand out from the crowd. It also means your competitors will have to work much harder to attract and retain customers.
2. Your customers will stick around through difficult times.
In a crisis, your customers will likely be loyal and more patient with you, while you work to get back on your feet.
3. Your workplace culture will be top notch.
If there’s not trust in your organization, it won’t matter how awesome or well-known your business is. “A team without trust isn’t really a team. It doesn’t matter how capable or talented your people are, they may never reach their full potential if trust isn’t present.”
4. You’ll have better rapport with customers.
Trust keeps the lines of communication open. Your customers will be more comfortable expressing themselves to you and you’ll be able to foster stronger relationships with them. When conflict arises, you’ll be able to communicate with your customers more effectively and resolve their problems more quickly.
What BBB services helped Accredited Businesses build trust the most?
BBB offers many services aimed at helping businesses build trust with consumers. Which was the most popular among survey respondents? Over 66% list the Accredited Business Directory as the most helpful in building trust. In addition to the Business Directory, here are two other BBB services that can also help you build trust and generate more leads.
BBB Accredited Business Seal
Display the BBB seal on every customer contact and purchase point. Over 90% of the public recognize the BBB seal, so don’t conceal the seal. Put it everywhere! Attach it to newspapers, flyers, sales contracts, emails, stationary, business cards, invoices, magazines, posters, billboards, company vehicles, and your place of business.
Dynamic Seal Program
Displaying the Dynamic “Click for Review” BBB Accredited Business Seal on your website and social sites allows visitors check out your firm on the Business Reviews page on BBB’s site. It also increases traffic to your site as well as improves your search engine ranking. DeCillis Construction also says “almost all of our leads come through, and are the result of, people going to the BBB site first.”
Accredited Business Directory
Make sure your business listing is up to date and accurate. These listings are search engine friendly, meaning they will also increase the ranking of your local search engine listings, which will drive more traffic to your site. Debbie DeCillis, from DeCillis Construction, says with the Accredited Business Directory they “are getting amazing exposure even though our business is small. We receive plenty of calls from customers sent to us through the Accredited Business Directory.”
How does your business rate when it comes to trust?
Are you doing everything you can to earn, retain, and protect the trust you have with your clients? Building trust should be a daily pursuit for any construction company that desires long-term success, especially as it is so fragile and can be destroyed very quickly. “Without trust there can be no sustainable business. Because a relationship without trust is not really a relationship at all” (Evan Carmichael).