In today’s consumer culture, the relationship between companies and customers is simple–despite businesses struggling to wrap their minds around it. Here it is in two parts:
- The business world runs on sales, but
- You need trust to get sales.
In fact, research done by Accenture reveals that 66% of people are drawn to a brand that “does what it says it will do and delivers on its promise”. Conversely, dishonest business decisions aren’t the recipe for success. For instance, American Express cites “white lies” and exaggerations as major barriers to customer loyalty. You can see, then, that trust is important. That’s why we at PeopleLift are serious about it.
Stemming from trust is our second core belief: living our values. Doing so naturally leads to authentic relationships. And as a company founded on the desire to lift up others, we’re committed to this principle–whether we’re helping a small manufacturing company find entry-level workers or supporting a large industrial distributor in finding a floor supervisor. By building trust and living our values, we’ve transformed our client relationships into long-term partnerships. Now let’s talk about how.
According to the MIT Sloan Management Review, data shows a decrease in trust around the world. And in the business sphere, this translates into customers’ distrust of brands. The result? Well, customers are less likely to invest in these brands. But that doesn’t have to be the case; take this opportunity to tell a different story–one rooted in trust. While increasing your customer base is financially beneficial, a better measure of long-term success is the number of strong partnerships you build.
So what are some ways to build trust? Here’s a scenario that Forbes proposes: “When vendors make suggestions to save you money, rather than try and add to a sale, you start to think about other ways you can work with them. Why? Because they are looking out for your best interest.” Another simple way to build trust could be regularly getting your team’s feedback. Indeed suggests the following seven (7) trust-building tactics:
- Make a great product
- Show your company values
- Create strong relationships with customers
- Being transparent
- Helping clients solve problems
- Showcase positive testimonials
- Maintain your company’s reputation
PeopleLift believes in trust–because organizations that put people first in their strategy win far more often than not. One of our clients–a consulting & HR firm–trusted us to help them fill niche roles. At the end of the six-month hiring timeline, they made offers to 34% of candidates (and 100% of those candidates accepted). By building a trusting partnership with this client, our collaboration was effective.
Living our values.
Living your values–like building trust–takes intentionality; keep in mind that you’ll have to reexamine your company’s structure to see how you can operate more closely in alignment with what’s important to you. But the work pays off. How? Well, then your business decisions have motivation; they become informed by your values.
So what are some ways to live your values? Well, multi-national company Deloitte tells us to “walk the walk”. To be accountable for our actions–like providing easy access to data reflecting performance. They also suggest putting people at the center of decision-making. And leading with purpose.
There’s just one problem: what do these suggestions look like? Maybe it’s letting someone leave early so they don’t miss a child’s dance recital. Or making sure you have enough workers to comfortably staff the production line, even if it requires hiring an extra person. Though it may seem intimidating at first, these business practices eventually become second nature.
For PeopleLift, living our values guides our business decisions–and that has yielded positive results. A manufacturing company came to us for help holding a mass-hiring event. With the goal of authentically engaging job seekers (one of our values), we helped our client attract almost 5,300 candidates and generate almost 600 interviews–over 160 of them with the company’s hiring manager. The takeaway? Living our values resulted in success.
So remember, two-thirds of people are drawn to brands that do what they say they will. Meaning brands that build trust and live their values. These are two foundational elements that significantly contribute to strong partnerships. At PeopleLift, we want to continue living our values and being a brand that people can trust. Interested in learning more? Discover the PeopleLift Difference Today – Contact us to schedule a no-obligation Discovery Call and get your FREE Comprehensive Talent Marketplace Assessment!