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Fresh research gives insight into the tactics and strategies marketers can use to ensure the trust of their clients, which is a tangible step towards securing their business.
A recent report from creative agency Yell Creative examined the state of financial marketing in a post-royal commission environment.
Although the report did not examine real estate specifically, it delved deep into the issue of trust among consumers and clients, which is a perpetual consideration for real estate agents.
In spite of the good work and client-centric focus of many Australian real estate agencies, real estate agents are persistently towards the bottom of trust barometers, including in the most recent rankings from national research house Roy Morgan.
Some key learnings
In spite of the range of products, which are often cost-effective, on offer from larger banks and institutions, the survey found customers are increasingly opting to give their business to smaller operations, including neobanks, which are digital-first and often digital-only platforms. This highlights the material bottom line value of trust.
“There seem to be two factors in play. Firstly, customers of these banks have likely chosen them because an aspect of the bank’s positioning aligns with the customer’s own perception of themselves,” the research found. “This personal connection delivers positive sentiment.
“Secondly, non-customers also perceive them to be more customer-centric, while still delivering on the basics.
“With a small number of our respondents actually banking with the smaller banks... it suggests that perception is the biggest factor in smaller banks being more trusted than the big four.”
Unlike generations and market research gone past, this survey suggests that consumers are also increasingly trusting of digital services, provided they are customer-centric.
“Both customers and marketers are bullish about the ability of digital to solve for the majority of customer needs,” the research said.
“In fact, consumers agree with this sentiment more strongly than marketers. This is a rare occasion in the survey where marketers have underestimated how satisfied customers are with the solutions they are delivering.”
The report stresses on several occasions, however, that despite the capabilities of digital technology, the businesses which use it without wholly considering the personal experience of their end user may find it falling flat.
“While 80 per cent of marketers surveyed agreed with the statement that ‘digital increases our ability to provide a personal experience’, just 38 per cent of customers felt that ‘the experience I get online is personalised to me,” the report said.
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