Customers Demand Trust as Key for Success

Customers Demand Trust as Key for Success

Customers Demand Trust as Key for Success

Customers Demand Trust as Key for SuccessResearchers have revealed trust is the number one ingredient for successful business relationships.

The Harvard Business Review study, published in  The International Journal of Conflict Management found “Trust is the social glue that holds business relationships together.” Interviews were conducted with 82 managers from 33 different nations in various regions identified by the World Bank, including East Asia, the Middle East and South Asia, North America and Europe, and Latin America.

Business partners who trust each other spend less time and energy protecting themselves from being exploited, and both sides achieve better economic outcomes in negotiations.

It is a truth picked up by Kevin Shu (pictured), founder of Aprint. “If trust is the foundation, then it is no exaggeration to say, ‘winning trust’ is like wining royalty,” he said.

Shu has explained building trust is the cornerstone of the foundation he has built with companies in many countries. He pointed out building trust with a customer can be a long process. “It has to be earned,” he added. “It involves consistent quality products and premium services.” Shu has found that you must have patience. It takes years to build a trusted brand.

One of Shu’s UK-based potential customers, who specializes in selling Ricoh and Xerox copiers and components is extremely fussy about quality. It was his habit to always buy components from the OEMs as he always doubted aftermarket products. So much so that he rejected any approach made by Shu.

Incidentally, an existing customer of Shu’s also based in the UK, asked Shu for a source of OEM components. Without hesitation, Shu introduced the two UK businesses to each other. Happy to obtain a new customer from Shu, it opened the door for the potential customer who sent an email to thank Shu and ask about the supply of certain difficult-to-obtain components. The potential customer had placed an order online with someone else, but still hadn’t received his order for days.

Sensing the urgency, Shu sent him the components even before receiving payment.

Two days later, this potential customer received his previous order and was about to cancel his order with Shu.

“We sent the components to him as a gift anyway,” said Shu. The trust not only won Shu a new customer, but a very loyal one.

Aprint was able to send the new customer a range of quality component samples to meet the demand for high standards. It provided the new customer with alternatives to test and to choose from.

Shu was able to demonstrate Aprint’s product quality. It deepened the trust between the supplier and the buyer. More and more orders were placed with Aprint, which sourced a wider range of products to meet the customer’s needs.

“Our new UK customer told us last month that his goal is to reach an annual turnover of at least US$1 million with our products alone, in the next two years,” said Shu.

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