Investing in trust: why trust matters more than ever in 2024

The job for today’s marketers is extremely challenging. You need to perfectly understand and predict consumer behavior. With many organizations cutting down on teams and budgets, chances are you’re wearing a lot more hats than you may have in the past. And with higher pressure on budgets, you’re probably facing more intense pressure to demonstrate ROI on each campaign as quickly as possible. Smaller teams, less budget, higher expectations, and more pressure.

It’s not exactly the simplest time for marketers, but investing in trust is an excellent way to help you solve all of these challenges at once. Chances are you’re probably doing some of this in the form of NPS or CSAT scoring to see where your business is at in terms of customer happiness and trust. Or different forms or social proof like customer reviews, case studies, or industry badges and awards. These are really important pieces to the puzzle, but they don’t capture the full potential of trust.

Trust is a marketer’s best friend — in nearly every way that counts

Investing in a platform like Trustpilot isn’t just investing in a platform that helps you collect reviews. It helps you solve a lot of your problems — improving ROI on marketing activities and paid campaigns, doing more with smaller marketing budgets, better understanding your customers so you can improve your business for them — all at once.

When used properly throughout your customer journey, Trustpilot reviews can have an enormous impact on conversion rates and your bottom line. Used in paid campaigns, your CAC costs go down. On your website, emails, and other free channels you can fully optimize those conversion rates as well. Enterprises with a TrustScore between 4 and 5 see 8 times as many conversions from their Trustpilot pages compared to those with a TrustScore between 3 and 4. A digital ad with a 5-star TrustScore, 3,000+ reviews, and a real review performs 34 times as well as the same ad with no Trustpilot components. Reviews can also have a significant impact on SEO, helping you find more customers for free without lifting a finger or spending a dollar.

And when it comes to better understanding your customers, we automate insights about how your customers feel about your business. We don’t just tell you how your customers feel, we highlight problem areas and tell you exactly where you could make changes to your product or service to improve customer satisfaction.

With easy to use custom review tags, you can monitor customer sentiment around any important metrics for your business. Our customers have used Trustpilot insights to improve everything from adjusting prices based on too many negative customer reviews mentioning “price” and “value” to bringing medical claims in-house because the outsourcing process was too frustrating for their customers. These were issues in their operations that they were previously unaware of, that were automatically flagged and surfaced by our technology.

Understanding how your customers feel about your business isn’t just helpful to businesses trying to improve for their customers. is also enormously helpful to marketers to better communicate with their customers and improve messaging. By knowing what your customers love about your business, you can increase messaging around those features. By knowing what they don’t love as much, you can improve messaging and communication so you’re not selling yourself on those features and leaving customers feeling unsatisfied.

It’s rare that one platform can help with so many different problems at once. And with headlines about fake reviews and consumer distrust at an all time high, it’s actually unsurprising that trust is the only investment you can make with such a positive impact on each of a marketer’s biggest challenges.

Learn more about how to increase your ROI with Trustpilot.