How Can Entrepreneurs Build a Trustworthy Relationship With Their Consumers

Source | Entrepreneur : By Sanchita Dash

As the world woke up to Facebook’s biggest controversy till date over a massive data breach, there has been an uproar on other social media platforms with the common call for action being #deleteFacebook. The consequence of the same is yet to be determined, but one thing’s for sure – Facebook founder Mark Zuckerberg now faces massive trust issues from his users.

For any brand, ensuring the trust of their customers is an integral part of their success journey. More often than not, the customers script the growth story of the brand. Founders need to realise the power of the customer early on to build on the trust.

Entrepreneur India spoke to start-up founders on how to establish trust and also win it back in case of a fallout.

Be Transparent

The most important aspect of building trust is being transparent in your processes, not just in front of your employees but also your customers. Laxman Papineni, co-founder, AppVirality believes that a healthy relationship based on trust and mutual respect develops only when we embrace transparency and opt for a bare-all approach. “Don’t get me wrong, we can’t reveal every aspect of our business due to legalities, but when it comes to consumers and their needs, we have to show integrity and be real with them. Don’t have what the user needs? Tell them upfront,” he said.

Especially when your product requires the customer to share their personal information, you have to ensure its safety. Sunil Kakadia, co-founder, Sportobuddy, said that transparent handling of data is of extreme importance. “Share the measures you are taking to ensure the data is not leaked. You have to make sure that there are multiple levels of authentication for the data and there are different sets of people monitoring it,” said Kakadia. He also suggested developing partnerships with renowned service platforms to store the data on the cloud.

Talking about safeguarding the data, Kakadia also said that entrepreneurs can hire ethical hackers who can point out the loopholes in the system and ensure the IT architecture is certified according to industry standards

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