By Nancy Drexler
Acquired Marketing
As payments become increasingly commoditized, business success hinges on relationships. And relationships are based on trust. Fostering trust is how we make partners and customers feel comfortable about choosing us – and how we get them to keep coming back. Today, social media offers a new way to develop and build trust.
Social media breaks down an invisible wall that has existed for too long between business owners and the people they serve. Through blogs and social networks, businesses are now able to talk to consumers more intimately, to share information without selling and to seek their customers' advice on matters related to their businesses.
By bringing customers deeper into your business and giving them a sense of investment in your company, you earn their trust and loyalty. You show them you value their opinion and how important they are to your business. As a result, they become part of your company forever.
Recent studies have also shown a correlation between online reviews and consumer trust. More importantly, they can be a turning point for decision-making. If a prospect is hearing and seeing positive information, it doesn't just make the individual more inclined to like you, it makes the prospect more inclined to choose you.
It is simple to solicit positive reviews. Build it into your sales cycle, and encourage partners and customers to get vocal about your business. Worried about bad reviews? Don't be. By responding quickly, calmly and openly to customers who have less-than-stellar things to say about you, you show them that you hear and value opinions.
Customers today expect to be able to find certain information about your brand on the web. If they don't, it makes them wonder why the data is not there. And not in a good way. A social media presence legitimizes you in today's tech-savvy world. The more visible you are to customers and the more places they can find you, the more they trust your brand. 
Nancy Drexler is the President of Acquired Marketing, a boutique marketing firm for businesses in the payments industry. To learn more about what Acquired Marketing can do for you, visit www.acquiredmarketing.com, call 917.743.5258 or email ndrexler@acquiredmarketing.com.
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