Earn Trust To Gain Recommendations
October 27, 2011 1 Comment
We recently published the 2011 Temkin Trust Ratings. But why should companies care if their customers trust them? I think we all have a strong intuitive sense of the answer, but I decided to “run the numbers” and analytically look at how trust relates to one element of loyalty: the likelihood to recommend.
My analysis is based on a study of 6,000 US consumers and their relationships with 143 companies across 12 industries. Here’s what I found…
The data is pretty clear: consumers that trust companies are likely to recommend those companies, but they won’t recommend companies that they don’t trust.
The bottom line: If you want consumers to recommend you, then you need to first earn their trust
About Bruce Temkin
Thanks for this post Bruce. I think your study clearly demonstrates the importance of trust in building a pipeline of customer based referrals. Do you think the breakdown is as high for B2B markets? Specifically, I would be interested in seeing whether or not trust had as large of an impact in markets where the user and buyer persona were different people.
Thanks,
Brandon