Trust Badges – Introduction
In the rapidly growing world of e-commerce, trust, and credibility play a critical role in the success of any online business. Trust badges can help to alleviate purchase hesitancy. Consumers are often hesitant or entirely refrain from making purchases on unfamiliar websites due to concerns about the legitimacy of the business and the security of their transactions and personal information. Addressing these concerns is essential for less-mainstream businesses looking to grow in the competitive online marketplace. In this blog post, we will explore the problem of consumer distrust and discuss solutions to help establish trust and credibility and highlight the importance of trust badges in improving sales and customer experience.
The Problem – Lack of Consumer Trust
Consumer distrust is becoming a prevalent problem, leading to significant losses for small and medium-sized businesses. Over the last few years, the e-commerce world has shifted online, and as a result, online fraud rates have surged. This surge can be attributed to the ease of accessibility the internet offers fraudsters, who have turned to online marketplaces and the trusting consumer. Take the 2022 year, which, according to Statista, saw e-commerce losses to online payment fraud equal an estimated 41 billion U.S. dollars globally.
These growing fraud rates breed a more paranoid and less trusting consumer, forcing businesses to respond and go the extra mile to obtain their trust. In a study by the Baymard Institute, “17% of people abandon their online shopping carts because they didn’t trust the site with their credit card information”. If things continue at this trajectory and trust continues to dissipate from the online world, non-main-stream websites and businesses will cease to exist.
Solutions for Establishing Trust and Legitimacy
However, all hope is not lost, as businesses can still implement a few different strategies to build trust with consumers and instill confidence in them, resulting in an increased customer experience and a higher likelihood of conversion. Here are some helpful solutions:
Clear and Transparent Policies:
Displaying clear and easily accessible policies regarding privacy, returns, and customer support is crucial. Consumers feel more comfortable when they know their rights and have a clear understanding of how the business will handle any issues that may arise.
Secure Payment Options:
Offering secure payment options, such as SSL encryption and trusted payment gateways, demonstrates a commitment to protecting customer data. Displaying recognized payment logos, such as PayPal or Visa, can also help alleviate concerns about financial transactions.
Customer Reviews and Testimonials:
Genuine customer reviews and testimonials provide social proof and help potential buyers make informed decisions. Encouraging customers to leave feedback and showcasing positive reviews on the website builds trust and confidence in the business.
Trust badges or seals from reputable third-party organizations can significantly enhance the trust and legitimacy of a business and ultimately result in higher conversion rates. According to an article written in Forbes, a 20% conversion increase was seen in sales for smaller e-commerce sites after using a trust badge/seal.
These badges serve as visual cues that communicate upfront to consumers the trustworthiness and legitimacy of a business and its website. These authentication symbols give customers a sense of security and confidence when engaging in online transactions. That being said, it is also essential that trust badges are acquired from reputable and legitimate third-party organizations that can effectively vet and verify a business entity and the safety of its website.
Truly Legit – Trust Badges
Truly Legit is a globally trusted trust badge provider whose goal is to make online transactions and interactions between businesses and consumers as transparent and safe as possible—ultimately making the internet a safe and prosperous place for businesses and consumers alike.
To achieve this, Truly Legit helps businesses establish trust with consumers, and this trust is all predicated-on business legitimacy and website security. Truly Legit’s cutting-edge verification software is designed to efficiently and effectively verify critical information to determine business legitimacy and website security. This state-of-the-art verification process is leveraged in providing globally trusted trust badge solutions.
These trust badges are the key to building trust between businesses and consumers.
Benefits of Truly Legit Trust Badges:
- Increased Conversion Rates: Trust Badges can eliminate key trust issues stemming from concerns of business legitimacy and website security. When online consumers feel as though they can confidently trust your business and know it is legitimate + the site on which they are providing personal information is secure and protected, especially in today’s high fraud era, they are more likely to make a purchase and continue coming back to shop from you. Trust is the ultimate deciding factor and determinant in a long-lasting relationship with customers, HBR article > of consumers survey – 80% consider trust a deciding factor in their buying decisions.
- Intuitive Analytics: Through the unique customer badge script from which Truly Badges operate comes tracking capabilities, allowing for easy-to-use analytics for all types of businesses. Effortlessly access and understand the essential analytics needed to keep you informed on the performance of your website. See more on the powerful Truly Legit Analytics
- Competitive Advantage: Go the extra step to engage more customers and do it in a way that your competitors are not. Showing your commitment to legitimacy and being transparent as a business will not only increase the customer experience for existing customers but also make consumers visiting your site think twice about shopping from your competitors and feel more comfortable purchasing your products.
- Establish an Impactful First Impression: Consumers decide if they trust your business and whether they continue their visit within the first seconds of landing on your website. Therefore, you need an instant assurance of legitimacy and safety or else those visitors are lost. With Truly Badges, a consumer can instantly know your business is trustworthy and safe to shop from.
Experience the unique benefits of non-pay-to-play Trust Badges like the Truly Badges.
Stop Losing Sales, Start Winning Customers.