Numerous factors combine to impact your company’s overall level of success and profitability. One of the more critical factors that may seemingly be difficult to control is your company’s reputation. You understandably want to build a reputation of being trustworthy and honest, and you do not need to leave this to chance. While you cannot directly control what customers and clients think about your company, you can promote the desired reputation through your specific actions.
Offer a Warranty or Guarantee
Companies that offer quality products or services may seem more trustworthy to customers. This is particularly true if they take the additional step of providing customers with a warranty or guarantee. Keep in mind that it is not enough to simply have a warranty or guarantee. You also need to honor your promises related to quality, longevity and more so that your customers know that they can depend on your company to follow through. Therefore, focus on delivering quality products or services and standing behind that quality with a warranty. Additionally, only guarantee within your means. A broken promise is often worse than a promise not made. In the same way that analysts can create a company financial stress index to aid with investment decisions, you should analyze your own financial stress levels to determine what you can reasonably afford to guarantee your clients.
Focus on Customer Service
At first glance, customer service may seemingly have little to do with trustworthiness, but a closer look reveals that it plays a major role in this area. In the event customers have a problem with a product, a service or billing, they understandably expect the company to address their concerns promptly and with the desired result. Your efforts to establish a well-trained and conscientious customer service department directly impacts these factors and affects your company’s image as being trustworthy. Each interaction customers have with your company should be positive and productive.
Manage Your Finances Responsibly
Your company’s financial management may not directly affect customers on a regular basis, but it can impact your reputation indirectly. For example, a credit risk analysis by a company like creditriskmonitor.com may reveal that your company does not honor the terms of debts that it takes on. If you cannot be trusted to pay back lenders that you borrowed money from, your customers and clients may assume that you may back out of other agreements that you make. In addition, when your business has poor financial management, the quality of products or your ability to stand behind warranties may be diminished.
You can see that you may have much more control over your company’s reputation than you may have initially thought. Now that you understand how your company’s daily actions and overall operations affect your reputation, you can take steps to improve your business in each of these areas.