Getting the trust of your customers is one way to ensure the longevity of your business. This is true whether your company is a B2B or B2C enterprise. The 2018 B2B Trusted Brands Report (PDF) from Sagefrog points out why trust is so important in B2B, and why you will probably recognize all if not most of the brands on its list.
Most Trusted B2B Brands
In the report Sagefrog says, developing a rapport with clients characterizing their brands as trustworthy plays a major role in the market. This it says is because when a customer trusts your particular brand, more often than not it translates to brand loyalty.
For small businesses in the B2B segment gaining this trust requires a concerted effort which Sagefrog says are based on three major factors. And in the report, the top-ranked brands exhibited these traits. They are Brand Awareness, Customer Interaction & Satisfaction and being in a Trusted Industry.
The company said, “For B2B brands to be recognized as the most trusted, excelling and driving innovation in each of these three categories is critical. Exceeding customer expectations in just one category while performing with mediocrity in the other two is detrimental for brands in today’s buyer-centric business landscape.”
Sagefrog collected over 1,000 votes in a customer-choice survey during the first quarter of 2018. It then ranked B2B brands based on trust factor to come up with the list for 2018.
Here are the most trusted B2B brands with scores of 80+ which is exceptional and 60-79 excellent.
A quick look reveals these 17 brands belong to some of the most recognizable companies in the world for their B2B and B2C operations.
The next list is made of brands with a good trust factor receiving a score of 50+. The brands on this list are also very familiar to both segments.
The Three Factors
Sagefrog says Brand Awareness is the most important factor related to how it affects a company’s trust level. It makes a great deal of sense because without the recognition it is that much harder for your customers to know you and eventually trust you.
The report recommends for brands to use multi-channel marketing to make as many impressions as possible on all available channels for generating maximum brand awareness.
Customer Interaction & Satisfaction is next, and tech companies are especially adept at making this happen. Sagefrog attributes their success to the interactive nature of the products they offer and the amount of time their customers spend using them.
The most trusted top brands are used throughout the day by businesses for their day to day operations. This creates a connection with users which gives brands the opportunity to deliver satisfaction.
The third factor is being in a Trusted Industry. According to Sagefrog, some industries are more trustworthy than others.
What this means for the brands in the industries with low trust levels is they have to differentiate themselves by standing out. This includes applying the first two recommendations and continuously exceeding the expectations of their customers.
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Their success came mostly from the trust that customers give them. Without that, they would not have been able to operate their business.