Earn Trust To Gain Recommendations

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 

Written by 

I'm an experience (XM) management catalyst; helping organizations improve results by engaging the hearts and minds of their employees, customers, and partners. I enjoy researching and speaking about leading-edge XM topics. I lead the Qualtrics XM Institute, which is the world's best job. We're igniting a global community of XM Professionals who are inspired and empowered to radically improve the human experience. To achieve this goal, my team focuses on thought leadership, training, and community building. My work is driven by a set of fundamental beliefs: 1) Everything starts and ends with human beings, so you need to understand how people think, feel, and behave; 2) XM is a discipline that needs to be woven throughout an organization's entire operating fabric; and 3) Building the XM discipline requires a combination of culture, competency, and technology.

One thought on “Earn Trust To Gain Recommendations”

  1. 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

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