Practical and business-oriented reasons agencies need to. Focus on building trust: Client retention. When your clients stay with you, new business becomes. Accretive instead of simply offsetting churn. If you are constantly losing clients. You can continue to stay flat if you are good at bringing in new accounts but will struggle to grow. Former clients will bring you with them When your clients trust you and switch to a new company, they will likely want to partner with you again. Referrals to new prospects In your initial years of growth, your business may stem more from word of mouth than proactive business development. Building trust is likely to lead to more referrals. Expanded services and growth A high level of trust will generally open doors to selling clients additional services or increasing spend on accounts.

Now that we understand what leads

However, self-orientation is another important component in the equation. The first three items we covered – credibility, reliability, and intimacy – build trust. However, being perceived as self-serving DB to Data or motivated by your own interests can destroy trust. In other words, even if you are really smart, and do what you say you will do on time, people who perceive you as motivated by your own self-interests won’t trust you as much. “I don’t trust him – it seems like he is only doing this to get recognition, not because he cares or wants to help me.” Trust equation Why should agencies focus on building trust?  to the perception that you are trustworthy, let’s address.

Do clients feel confident that you can be trusted

DB to Data

How trust is built There’s a trust equation that includes three important components leading to trustworthiness: Credibility: Do you have the knowledge or capability to execute or provide relevant information. “I can trust what he tells me about SEO, he has deep experience in this area.” Reliability: Do you do things BMB Directory when you say you will? “If he says I’ll have this report by Friday, I can trust that he will have it to me that day.” Intimacy:  “I can trust them with this project. They are always professional and maintain confidence in sensitive situations.” Combined, these items represent trust. Any one of them can destroy or diminish trust. For example, if you have a lot of knowledge about a subject but never deliver projects on time, your clients (and colleagues!) may feel you can’t be trusted.

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