I think about my personal habits and preferences when building a business. I like to know who I'm buying from, do you?
I most likely won't buy something immediately if in my searches I land on a website that I've never heard of. The chances of me buying would likely increase if it came by an online recommendation from someone I trust. But even so, I would approach with caution.
I observe time and time again that people who seem to succeed have the trust factor built in. The trust generally comes from things like making friendships, being helpful and sharing helpful advice. Doing these things naturally builds up your network, your SEO, your mailing list, your followers - all the things that will help you when you come to launch your product.
Admittedly, I'm not a big fan of ads and validating ideas with a landing page plus paid ads. Of course, I know it works, in the right situation. For me this approach lacks the 'trust' factor. If I had trust in the person who was building the thing and I landed on their ad, then there'd be a higher chance I would buy. If I didn't know them, it would be highly unlikely that I would.
I fear that too many people rely on metrics and the results of ads on landing pages to validate their business, when what they should be doing is build up their trust value.
I fear trust is not built enough into how we businesses. People try to see business as black and white. When in fact businesses and people is so full of psychology and personal aspects that simply can't be measured.
I fear people who don't know you won't fully understand the bigger picture of what you are trying to build. They'll move on without any thought. Whereas those who even have a little bit of history with you will perhaps at least give you a 2nd glance.
Of course, trust is hard to measure and it takes time to build and that's probably why not enough people pay enough attention to it.
How do you build trust with a new product @rosiesherry? I really like this approach and a lot of time products may not work just because your page or product can not show enough trust to new users.
To solve this there are 2 things that have worked to me, 1 being referred from a newsletter, people trust the sender of the newsletter and what the recommend, 2 being referred by an "authority" for example being referred by an accelerator.
The point is to build up trust from day 1, before you've started a product, once you've made a decision on building something. Ideally not from when you launch, though I think it is never too late. It might not work for your current product, but it will help you out in the future.
Trust, to me, is about people knowing who you are and feeling like you are honest and know what you are talking about. That comes from interacting with people and making/doing things online - writing, videos, podcasts, tweets, newsletters, communities...whatever it is.
For me, at Ministry of Testing I blogged and networked with testers online before starting an online community/forum. When I started the community I had enough trust for the first people to join. It was those first few people that really mattered to help get things off the ground. I ran that community for 3 years before making serious attempts for it to make me some real money. I'm pretty convinced the business would've gone nowhere if I hadn't built up that community first.
I completely agree and this is at the heart of some of the resources I share here (and why I push back against some other popular recommendations).
If I had one major complaint about how some communities adjacent to IH go about business is that they focus so much effort on extraction of value and so little towards creation of value. Reversing that is one of the quickest ways to build trust.
Yes.
Helping companies do this is the bulk of my consulting work (and I'm writing a book about it, out early 2020).
Whoop :)
One simple trust-building step to consider is offering (and immediately honoring) a 100% money-back guarantee. I was concerned about this when Seth Godin suggested it, but he was right that very few people ever use it.
And honestly, if someone is unhappy, that means I haven't met their needs or expectations, so I haven't really earned that money anyway.
Also, consider asking for brutal feedback on what they loved and what was terrible (nothing in the middle will be helpful).
Disclaimer: I am wrong A LOT!