Connections are important in every industry, regardless of the product, service or customer type. But according to Anna Crowe, our fearless leader and nationally recognized speaker, author and podcast host, without authenticity, your attempts to establish connections may fall flat and fail to reach your target base. She notes that focusing your efforts on building genuine connections can increase trust, loyalty and brand value, leading to higher sales and profitability. However you choose to create those authentic customer connections, be it by establishing a company blog, building out your social media presence, sourcing customer feedback or sharing your core values, it’s well worth the time and should be considered an investment in your company’s future.
Here are three reasons from Anna on why creating authentic connections can boost your business.
It Builds Trust. More than anything, authentic connections with customers matter because they help build trust. As a brand, you want your customers to know you can reliably meet their needs. Their understanding that your company delivers on promises is essential for building a customer base and a successful company. Building trust through consistency and problem-solving adds value, while strengthening your business.
It Creates Brand Loyalty. Brand loyalty accounts for a majority of sales, as 65% of business typically comes from a company’s existing customers. Without an authentic voice, customers are less likely to connect with the brand and stay loyal. Staying true to your core values humanizes the brand and fosters connections. This is essential when considering that 56% of customers stay loyal to brands that understand them. By deliberately highlighting your core values and incorporate them throughout your brand, the connection your customers feel grows stronger. In addition to company values, creating meaningful solutions to problems builds upon trust and increases the likelihood that customers will stay with the brand.
It Increases Value. Building authentic connections with your customers adds value exponentially, especially when it comes to new business. Notably, it increases a customer’s lifetime value and net promoter score, both of which build a strong customer base. Customer lifetime value considers the total worth of a customer to a business over the course of their relationship. As it increases, it drives up sales and decreases the costs associated with acquiring new business. A customer’s net promoter score determines how likely they are to recommend your business to others. Third-party recommendations are perceived as more authentic, making them incredibly effective at driving new business. Overall, being transparent and authentic within your company greatly benefits your relationship with customers. Strengthening that connection positively impacts multiple aspects of your business, making it both a growth strategy and a way to connect with your customers on a deeper level.
Looking for ways to create authentic customer connections? Check out Anna’s book, Get Real: The Power of Genuine Leadership, a Transparent Culture, and an Authentic You, to learn more about her process and the ways authenticity can improve your business.