Australian Business Trust Level Hits All Time Low

Why Trust is Important for Businesses

Tony Abbott declared on the night of his election victory in 2013 that: “I now look forward to forming a government that is competent, that is trustworthy and which purposefully and steadfastly and methodically sets about delivering on our commitments to you, the Australian people.”

He vowed there would be “no cuts to education, no cuts to health, no change to pensions, and no cuts to the ABC or SBS”.

Within the first year, all of these promises had been broken. The public polls showed month after month that the Abbott government could not gain the trust of the Australian public.

The story is not too dissimilar for Labor government, experiencing internal divisions and accusation of constant “lies”.

Apparent is the consequence of “losing trust “in the Australian community to mean “See you later!” and based on latest research, it could well mean the same for any Australian business.

Further, the 2015 Edelman Trust Barometer revealed an 11-point decrease in trust in business, with trust levels falling below 48%. For the first time since the Global Financial Crisis of 2009, trust in Australian business has dipped below our trust in government.

What does this mean for Australian Businesses!

Building a business’ reputation is no longer for the Starbucks of this world. Whether you’re a local tradie or financial advisor, in this current environment any business needs to work hard to build its trust factor.

Further, in this growing digital space, it is no longer enough to be “found online”. Being “trusted online” will be every businesses’ essential must-have.

Here are three ways your business can improve in online trust rating.

1.    Make a Great First Impression Online

Google is your new résumé which gives your prospects the ability to “check you out” with one click, 24/7. If you are not online or have very little to offer over the internet, you may be losing clients to local competitors that have a stronger online presence.

In the fast changing digital landscape, a website is no longer enough. Managing a great online profile should have you appearing on the first few pages of the internet with credible testimonials and endorsements on different websites. Search for your name/business online and compare that to what shows up when you search for competitors.

2.     Get Social

Like it or not, you have to be active on social media platforms like LinkedIn, Facebook, or Twitter to tell people you exist. The right medium can showcase your expertise and build an appeal to prospects. Social media can be one of the best ways to develop a customer following.

3. Join exclusive local online reputation platforms

Not all online directors add value to your brand and reputation. Consider joining exclusive online platforms or local membership groups that only profile a limited number of reputable local businesses in your area. This strengthens your brand and reputation by association.

Todays’ Small Business Must be a Trusted Online

With over 50% of Aussies online, and the continued growth in internet and social media use to research businesses, trends show that over next few years businesses with a strong online reputation will be the ones to survive and succeed.

Want to be Part of a Trusted Online Business Network?

Tradebusters Connect, is a directory with a difference and aims to be Australia’s “most trusted” local business network. It offers a unique membership program for tradies and professional service providers, helping develop their online brand as a trusted business choice.