Consumer Confidence Indicators

It could be said that confidence is an important foundation that must be present to run a business. This is because transactions between two parties or even newer ones take place when each of them has trust in the other.

This trust then is not something that can be obtained at the drop of a hat but must be attempted to be built from the very beginning of the business. Things that could be your question at this time, among others, are the aspects and indicators of consumer trust that exist?

To be able to get the answer, we will help you on this occasion. Find out about consumer trust in the business world. Come on, see below for a more complete explanation!

Definition of Consumer Confidence Indicator

Consumer trust is a form of consumer confidence indicator in the business, product, service, or services that the company provides. This belief includes features, benefits, and the quality of the product or service itself.

In addition, there are also definitions of consumer trust from various sources that will help you to get a deeper understanding. One of them is Sumarwan’s (2011) definition of consumer trust as follows:

Consumer trust is the knowledge that consumers have about an object in terms of various attributes and benefits. The object here can be understood as a product, a person, or a company. Then the attribute is a property or characteristic that may or may not belong to the object. While the benefits are positive outcomes that can be given to consumers.

2 Aspects of Consumer Confidence Indicator

The following aspects of consumer trust according to McKnight (2002), including:

1. Trustworthy Belief

This trustworthy belief is an aspect that examines the extent to which consumers can trust and feel convinced by the company in a situation. In this aspect, three elements build the trustworthy belief itself, consisting of:

  • Goodwill (good intention) is the willingness of companies or sellers to provide services related to consumer interests.
  • Integrity is the consumer’s trust in the honesty that the company or vendor possesses to uphold and fulfill the agreement made
  • Competence is the extent to which the company or vendor can meet the needs of consumers

2. Confidence the Intention

Trusting intent is something that is intended when consumers are willing to rely on the seller or company in a situation. This aspect can be built by two elements, namely:

  • Dependence intention is the willingness of consumers to rely on sellers by accepting risks or negative consequences that may occur.
  • Subjective dependency probability is the subjective willingness of consumers to provide personal information to companies or sellers, to make transactions, and be willing to follow suggestions or requests from sellers.

4 Consumer Confidence Indicator

According to Maharani (2010), indicators of consumer trust in a product, service, or service include:

1. Reliability

More specifically, reliability is intended to measure a company’s consistency in conducting its various businesses for a long time.

2. Honesty

How companies or sellers offer their products or services to consumers honestly and following the actual information contained in the product or service.

3. Concern

Companies or sellers not only sell their products or services to consumers. But also always provide the best service, always accept any complaints from consumers, and always give top priority to consumers, which must be maintained by the company.

4. Credibility

Maintaining the quality or strength of the company to build consumer confidence.

The importance of maintaining consumer trust.

Gaining and building consumer trust cannot be done in a short time, nor will it always be easy in practice. There are many things companies or vendors must do to get it. But beyond that, there is also one attitude that needs to be incorporated into company principles, and that is consistency.

Companies need to consistently view consumers as the most important part of running a business. After all, the more consistent your company is with the personality of the product or service it provides to consumers, the basic products and services of the company, the more loyal your customers will be. Not only that, but your company’s image will grow.

When gaining and building consumer trust in your company, if you go through many stages and efforts that are not so easy, then of course you must get it after you get it successfully. Of course, so that the sale of a product or service owned by a company or seller can always continue and always make profits.

Well, this is the explanation of the importance, aspects, and indicators to build consumer trust. Hopefully, this article can help to build consumer trust in your business.

Moreover, several ways need to be considered to gain consumer trust. Such as starting with creating a website so that consumers can more easily get all the information about your business, the products or services you offer, ads on social media, and much more.

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