Company
Date Published
Author
Sam Richardson
Word count
500
Language
English
Hacker News points
None

Summary

To understand customer trust and build lasting relationships with them, companies must focus on demonstrating through action why customers should trust them, rather than "building" it. Trust is defined as a confident relationship with the unknown, and it's not something that can be easily built but rather demonstrated through the use of first-party data. Companies need to ask themselves if their product or service is deserving of trust in the first place, and instead of just asking how to build trust, they should focus on using data to nurture trusting relationships. Demonstrating the effective use of data, such as personalizing interactions and making suggestions based on past purchases, can help create a virtuous circle where customers tell their friends about positive experiences, furthering social-proof.