Transcript 2001.trust session5

Trust Based Marketing on the Internet
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State of the Art
Trust based marketing concept
Trusted advisor
Implementation
Summary
Trust and Internet Marketing
• Belief -- Confidence -- Reliance -- Trust
• Trust Building Process
• Good Marketing -- Consultative Selling -Relationship
Trust
• It is based on results - demonstrate you work in
customer’s interest
• It is difficult to earn and easy to lose
Trust Based Marketing
• Concept
• Trust process / cues
• Best practice on trust
Trust in Web
Internet
Site
Process
Trust in Expert
Trust in Information
Data
Community
GUI
Trust in Fulfillment
Correlates of Site Trust
• 100 cues
• 5 Factors
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Importance
Professional
Navigation
Brand
Privacy/Security
Fulfillment
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Trust Based Advisor
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Design
Session
Market research
Improvement
Implementation
Figure 4. Mechanic Introduction
Figure 5. Advisor Dialogue
Figure 6. Constant Sum Preferences
Figure 7A. Personal Showroom
Figure 7B. Information Options
MARKET RESEARCH: Advisor
Evaluation
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78.4% Agree that “overall site is trustworthy.
68.5% Went to advisor first in Trucktown.
82.4% “Trust” the advisor.
94.4% agree that they believed information in
Trucktown.
5) 88.1% Agree that advisor recommended trucks
that fit their needs.
MARKET RESEARCH:
Advisor Evaluation
6) 59.4% agree that advisor suggested new
alternatives.
7) 87.7% would consider buying one of the
recommended trucks on internet.
8) Would be willing to pay $100 more in price for
search.
ADVISOR ALTERNATIVES
• Power vs. Ease of Use
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Kana
eTown
Active Buyers Guide
Frictionless Commerce Inc.
• cost
• In house vs. outside source
HOW MUCH TRUST?
PUSH/SELL
TRUST
BUILDING
FULLY
TRUST
BASED
MARKETING ELEMENTS
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Sales Approach
Products Offered
Information
Advertising
Price
Service
Time Frame
BENEFITS OF TRUST BASED
INTERNET MARKET
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Get out of price only competition
Replicate best sales person
Reach new segment
Global expansion
Consultative selling / loyalty
Relationship
Cross selling
FIVE STEPS FOR BUILDING TRUST
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Maximize trust cues on your site
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Use advisor technology
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Provide unbiased and complete information
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Include competitive products
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Keep your promise
CONCLUSION
Trust - Big Potential
Element in Growth of eMarketing