There are, of course, many reasons why customers might buy something. But there is, actually, one top reason.
Before we get to the top spot, let’s cover major runners up (as to why customers buy products, etc.):
- Save time (food processor)
- Make or save money (discounted clothes)
- Transform or improve (makeup or weight loss program)
- Feel good (clothes)
But even if what you’re buying has all of those things, there’s still the #1 top reason customers buy.
And if you, the entrepreneur / retailer don’t have it, it’s very hard to make sales.
I mean, it’s certainly possible — but it’s a million times easier if you have this one very important ingredient…
So, even if the product you, as the customer, are considering helps you…
- save time and money
- feel better
…but lacks the trust factor, then you will rarely click that buy now button.
In fact, studies show that the number one reason the modern consumer buys something is because of trust.
Credibility, reliability, intimacy, and self-orientation
As stressed in the book, The Trusted Advisor (by, David Maister)…
… make up objective variables of The Trust Equation — used to measure trustworthiness.
(By the way, self-orientation is basically when there’s too much self-promotion.)
If an Influencer is pushing some new face cream on her Stories and you’re thinking…
“Okay, she’s reliable because she’s consistent, her history is totally credible, I feel like she’s always sharing with me who she really is, and it’s NOT all about her all the time!”
…then, you will (most likely) buy because all of the elements of trust (per. Mr. Maister) are in place.
Establishing Trust on Social Media
As you may know, I’m always talking about consistency for growth. It’s key because it’s how you show your audience that you’re reliable (as noted above).
I’ve heard it said that the greatest ability we have is our reliability.
Bottom line: Trust equals credibility, reliability, and intimacy. And all of that is divided by your self-orientation (what’s in it for you?).
Looking at it another way: You can lose followers and you can lose money — but you can figure out a way to them back. However, one of the most difficult/costly/expensive things to lose is trust. Because — almost every time — you won’t get it back.
Not to mention, it’s almost impossible to sell without it.
For much more related to this topic, like:
- The importance of understanding your niche
- Ways you lose people’s trust
- What is inauthenticity
Well then, you must make sure you listen to this episode of Build Your Tribe:
And don’t forget to subscribe to BYT for weekly episodes geared to your business and social media growth!