Why Trust Matters Now More Than Ever In Innovation
2020 showed us that adaptability is a must to survive the changing market. Now that you’ve adapted, it’s time to go beyond just riding the tides to ensure a profitable company. Innovation is something that companies should also utilize regularly in their everyday operations.
However, more than original ideas, innovation should also factor in one important value: Trust.
Before you jump into brainstorming new offers, strategies and internal operation practices in an attempt to level up the company, take note of these three reasons why trust should first be a part of the innovation process of all companies.
Building lasting relationships
A statement from a Forbes article mentioned, trust is “a fundamental basis for companies aiming to create strong, reliable connections with its clients.” While you have your company goals, it is not always about your vision. Your customers’ trust is the main thing that will drive profit into your company.
One way to cultivate trust with your clients and customers is through user experience. When you provide a flawless experience from start to finish through your website or any of your online platforms, you’ll be able to better communicate your product or service’s strengths. This helps reduce friction and frustration, leading to more seamless onboarding flow.
Funneling to other offers
As you continue to innovate, you will also need a client base who are willing to test it out with you. That’s why trust is important as you grow. The consumers who trusted the quality of your service and offer are more likely to trust the next thing you deliver.
This also factors into gaining new leads. Remember the marketing advice that to build a strong community, one effective way to do it is to build an email list. Data such as email addresses are the new currency. It’s one of the best ways to build a relationship with leads who are already thinking about your kind of offer.
More than earning the trust of your consumers, trust is also important within the company. This is especially true for startups and new businesses. Taking risks as a company means that employees may also get dragged into the repercussions of the management’s decisions.
However, cultivating trust within the company as you go through the innovation process causes the team as a whole to be more willing to support management’s decisions. It will also mean that they are more eager to share their own thoughts to identify problems and contribute fresh ideas.
In Lincoln Ando’s Forbes article, he notes that trust is one of 2021’s innovation trends. With these three points in mind, always factor in trust whenever you go through the innovation process. Innovation trends announced every year may be a good way to guide the company on which direction to take, but it’s how you build relationships that will actually drive things forward.