Trust in your business is measurable. Trust matters, and it can affect the quality and productivity of your business. You can affect the trust factors in your business in either positive or negative ways.

When consumers don’t trust a business, they’re more likely to cut back on purchases, drive up service costs by reporting numerous problems, switch to the competition, share negative word of mouth, and demoralize employees.

When consumers do trust a business, they’re more likely to spend more, repurchase from the business, buy additional products and refer the business to others. A 2007 Nielsen Survey reveals that 78 percent of people’s trust in a business forms from word of mouth advertising. And an Edelman Trust Barometer Index found that 76 percent of people surveyed recommended a company they trust to a friend or colleague while 72 percent criticized a company they don’t trust to a friend to colleague.

What impacts consumers’ trust in a business? The Gallup Trust in Business Index found that the company’s reputation for being both dependable and reliable, the company’s reputation for providing good value for money, and the company’s reputation for honesty and fairness were the most common influencers. The same Gallup research found that 86 percent of consumers said it would be very or somewhat helpful to have an outside, third-party assess business performance.

So what steps can you take to build customers’ trust in your business?

• Advertise Honestly
  Adhere to established standards of advertising and selling.
• Tell the Truth
  Honestly represent products and services, including clear and adequate disclosures of all material terms.
• Be Transparent
  Openly identify the nature, location, and ownership of the business, and clearly disclose all policies, guarantees and procedures that bear on a customer’s decision to buy.
• Honor Promises
  Abide by all written agreements and verbal representations.
• Be Responsive
  Address marketplace disputes quickly, professionally, and in good faith.
• Safeguard Privacy
  Protect any data collected against mishandling and fraud, collect personal information only as needed, and respect the preferences of consumers regarding the use of their information. 
• Embody Integrity
  Approach all business dealings, marketplace transactions and commitments with integrity.

Once you’ve adopted and implemented these Standards for Trust, let your customers know!  Consumers know the BBB logo denotes trust, so don't forget to use the logo in your marketing materials, including your website.