If you have been studying marketing strategy, you probably have heard about the Rule of Seven. It’s a concept where a customer will decide to purchase your product after "hearing" your promotional message seven times. However, such a method will not suffice, especially in the age of tight competitors.
People prefer to buy from individuals they know well, like, and people they trust, rather than a faceless corporation. The know-like-trust factor is the name given to this purchasing process. Customers are more likely to buy after they have established a certain trust.
Know-Like-Trust Factor in Marketing Strategy
The concept of the know, like, and trust (KLT) principle may seem somewhat basic. However, there is a lot more about this idea compared to what you might have taken into consideration.
The KLT factor depicts your potential customer’s journey as they learn more about you and your business. Knowing who you are is a thing they must do. It means they must be aware of your existence, the services or products you offer, and what makes you qualified to provide the said services.
Afterward, your prospective customers will need to decide if they find what they have discovered fascinating. It means that you appear to be an individual with whom they can engage and that you are competent and have adequate capabilities at addressing their demands.
Once they like you, they will evaluate if you appear to be a trustworthy individual or corporate they can rely on. The KLT principle is the foundation of your marketing strategy. Thus, you can only hope to secure your potential customers as genuine customers once you've handled this principle.
Know
It is the point where customers will first know about you, your business, your brand's history, and what you offer. So, how do people learn about your professional brand?
Social media is one of the best marketing channels where your potential clients can learn a lot about your brand. It's one of the most cost-effective and versatile strategies for small businesses to reach their target markets and increase sales.
According to a report by Marketing sherpa, nearly 95% of internet people between 18-34 are likely to follow a particular brand on their social media accounts. They follow certain brands and interact with them mainly because they value the information or content provided through a social media campaign.
Social media has been the most reliable marketing strategy. There is a higher chance for your prospective clients to be more engaged with your professional brand through this method, as long as you provide a clear view about what you offer, what perks they may expect from your services, how you arrange your pricing, and other essential details.
Like
After knowing your professional brand, your potential clients may interact more with your business or could be not. Knowing your brand does not automatically mean they will find your business likable.
The way you showcase your expertise and how you promote your brand are two wholly different things. There should be adequate material to aid potential clients throughout their marketing journey to like the product or services you offer.
You can enhance your brand's likeability by providing accessible channels for those who want to know more about your business. It may include an elevator pitch you deliver to people coming into your company or a link to your webpage.
It's great timing to show who you are, the principle you believe in, and the reasons people should work with you. It is the second essential principle you need to consider prior to developing your marketing strategy so that people can grow to like your business.
Trust
How can you earn the trust of individuals you encounter outside of work? By being a genuine, generous, and amiable person.
The same criteria apply in sales. Only people who can connect with your brand on a personal level can trust you. They will put trust in your business if you provide values that align with theirs and show them that you clearly understand their demands.
Tutorials, testimonials on social media or website, newsletters, or endorsements are a few of the many channels you can use to build trust with your potential customers. As the base of marketing strategy, converting from the "like" to "trust" factor may need a considerable amount of time, and it's not uncommon for a certain exposure to be required.
Summary
It’s vital to remember that solid friendships involve you and your friend getting to know each other. It also applies in marketing, where your customers should have the same experience as well. Tell your prospective clients about yourself, your business, your principles.
Also, show them you understand their issues and interests and help them with your products or services. Consider this KLT principle when planning a marketing strategy. It's because once you handle this principle, not only will they purchase from you for the umpteenth time, but they will also be more likely to suggest you to others.
References:
- https://www.advisorperspectives.com/articles/2020/08/11/the-know-like-trust-factor-in-your-marketing
- https://www.adimarketingacademy.co.uk/the-klt-factor/
- https://stitchcraftmarketing.com/personalized-marketing-know-like-trust-funnel/
- https://www.lyfemarketing.com/blog/marketing-through-social-media/
- https://www.linkedin.com/pulse/know-like-trust-principle-david-albrecht
