Of the many building blocks that help to establish a successful business, trust plays a crucial role, forming the foundation for any successful brand.
This is especially relevant when it comes to the property sector, with trust being perhaps the most important thing that needs to be displayed to potential investors. The reason for this being that investors will be spending a large sum of money on property, perhaps the largest investment they will make in their lifetime. When the price increases for a product or service, so too does the need for trust.
How to improve trust
The first thing a property investment company should do to improve trust with prospective customers is to provide additional security in the form of external professional bodies.
The Property Ombudsman (TPOS) and ARLA Property Mark, where applicable, are great examples of how customers can receive additional support and protection in the event of a dispute between both parties. Acting as an impartial service, customers have security in knowing they have an additional layer of support when making an investment, reducing risk.
Seeking positive reviews is another great way to convey trust, especially in the early stages of attracting investors. Having affirmation from other customers that the investment is safe, secure and profitable is a fantastic way to build trust.
When an investment has been successful, a simple follow up email to request a positive review on Google or Trustpilot with a link is an easy way to gather reviews – you can even offer investors a form of incentive to do so. Positive reviews also have the additional benefit of enhancing your SEO, making your company more likely to appear on search engines.
Like positive reviews, incorporating PR as part of your marketing strategy is another great way to build trust with an investor. Most savvy investors will do some research into your investment company before parting with their money, so if you are positioned as an industry expert, getting features in prominent publications, once again there is greater reason to trust your company over competitors.
Having built initial trust to encourage the investor to enquire for more information, it is imperative that you now have high quality, honest communication from start to finish.
The sales or customer service departments should welcome any questions an investor may have, be transparent throughout the process, explain any risks and terms to the investment, and not put any undue pressure to complete a sale.
Hopefully, the experience received from the investor was a positive one. From here, retaining investors is the key to sustainable growth as an investment company.
It is far easier, and cheaper, to retain existing investors that have had a good experience with you than it is to attract new ones. Due to the nature of investing, if the customer has had a positive experience with you, they are likely to stick with you for any future investments and may even recommend others!