What’s up! Welcome back to another week in people-first GTM land. The best place to be.
Early in my career, I was part of a SaaS startup that was all about growth at any cost (I won’t say who, but those who know me definitely know). During a pitch to a potentially game-changing client, a colleague of mine oversold a feature still in development. We won the contract, but when the client discovered the truth three months later, we lost the deal and our reputation, too.
That moment was a wake-up call for me. It became crystal clear that short-term gains at the cost of transparency aren't gains at all—they're ticking time bombs. And you know what? The numbers back this up. A recent study by Sprout Social found that 86% of Americans say transparency from businesses is more important than ever before.
So, why am I sharing this with you? Because I believe that as marketers, we have the power to shape not just our companies' futures but the entire business landscape. By prioritizing trust and transparency, we can create sustainable growth that benefits everyone—our companies, customers, and ourselves.
Worst marketing practices
Want to join a community of marketers who are championing this approach? Check out TACK Insider at www.tackinsider.com. We're building a movement, and we'd love to have you on board.
Now, let's talk about trust—the real currency in B2B relationships.
Trust: The Foundation of People-First GTM
Trust isn't just a nice-to-have in the B2B world—it's the lifeblood of sustainable growth. At TACK, trust is the cornerstone of our people-first Go-To-Market (GTM) approach. And we're not alone in recognizing its importance. Research from Deloitte shows that 57% of consumers are more loyal to brands that commit to addressing social inequities in their actions. This statistic isn't just a number—it's a clear indicator that trust is the currency of modern business relationships.
But here's the thing: building trust isn't just about avoiding shady practices. It's about actively embracing transparency and ethical marketing. Let me share a personal example of how this plays out in real life.
Last year, we were developing a new feature for our platform. We were excited about it and started mentioning it to prospects. But as the development progressed, we realized it wouldn't be ready as soon as we'd hoped. We had a choice: keep quiet and hope for the best or be upfront with our customers and prospects.
We chose transparency. We sent out an email explaining the delay and our reasons for it. You know what happened? Instead of anger, we received understanding and even appreciation. Several customers offered to beta-test the feature when it was ready. That's the power of trust.
Curious about how we navigate these situations at TACK? Join our Slack community to connect with like-minded professionals and learn more about people-first strategies. Click here to join.
Why Trust Matters in B2B
-
Customer Retention: Trusted brands see lower churn rates. Period. When customers trust you, they're less likely to jump ship at the first sign of a better deal.
-
Repeat Business: Trust breeds loyalty, leading to more stable, predictable revenue streams. Loyal customers are more likely to expand their relationship with you over time.
-
Reduced Price Sensitivity: Customers are willing to pay more for trustworthy brands. Trust creates perceived value that goes beyond mere features and benefits.
-
Word-of-Mouth Marketing: Trust turns customers into advocates, driving organic growth. In the B2B world, a recommendation from a trusted peer is worth its weight in gold.
-
Forgiveness: When mistakes happen (and they will), trust acts as a buffer, giving you room to make things right. Trusted brands get the benefit of the doubt.
Understanding these benefits can fundamentally change how we approach our strategies as marketers. Instead of focusing solely on short-term metrics, we can build campaigns that foster long-term relationships and loyalty.
Want to dive deeper into content that explores these people-first strategies? Subscribe to the TACK Network at www.tacknetwork.com for a wealth of free resources to kickstart your journey.
Now, let's get practical. How can we actually build this trust?
6 Pillars of Ethical Marketing
-
Honesty: Always tell the truth about your products, services, and capabilities.
-
Transparency: Be open about your business practices, pricing, and policies.
-
Fairness: Treat all customers and competitors with respect and fairness.
-
Respect for Privacy: Handle customer data carefully
and respect their privacy preferences.
-
Social Responsibility: Consider the broader impact of your marketing efforts on society.
-
Value Creation: Focus on creating genuine value for your customers, not just making a sale.
6 Pillars of Ethical Marketing
These pillars aren't just theoretical—they're the foundation of every successful campaign I've run. Let me share some practical tips that have worked wonders for us at TACK.
8 Practical Tips for Building Trust Through Transparency
-
Be transparent with pricing: No hidden fees, no surprises. A study by Salesforce found that 86% of consumers say transparency is more important than ever. At TACK, we ensure our pricing is clear and upfront, including any potential additional costs.
-
Set Realistic Roadmap Expectations: Don't oversell features that aren't ready. Involve customers in the development process—it's a key aspect of our Member-led Growth strategy. We regularly share our product roadmap with our community and gather feedback to ensure we build what they need.
-
Clearly Define Your Feature Set: Be honest about what your product can and can't do. Gartner research shows that B2B buyers spend only 17% of their time meeting with potential suppliers. Make that time count with honest, clear communication.
-
Avoid Inflated Success Metrics: Share authentic case studies. Real results resonate more than exaggerated claims. We encourage our customers to share their genuine experiences, including challenges they've faced and how we've helped overcome them.
-
Implement Transparent Data Practices: With data privacy concerns rising, it's crucial to be clear about data handling. It's not just about compliance; it's about respect. We clearly communicate our data practices and give customers control over their information.
-
Avoid Over-Promising: Under-promising and over-delivering consistently leads to higher customer satisfaction and loyalty. We set realistic expectations and strive to exceed them in every interaction.
-
Offer Transparent Customer Support: Open, honest support turns potential negatives into relationship-strengthening positives. It's a cornerstone of our Customer-led Growth strategy. We own our mistakes, provide clear timelines for resolution, and follow up to ensure satisfaction.
-
Maintain Open Communication Channels: Regular, open communication is key to our Community-led Growth approach. It's about listening and acting on feedback. We host regular community events, maintain active feedback channels, and share updates on how we're incorporating community input.
Implementing these strategies isn't always easy. I remember when we first started being completely transparent about our pricing, including potential add-ons and future increases. We were worried it might scare off prospects. But you know what? Our close rates actually improved. Customers appreciated knowing exactly what they were getting into, with no surprises down the line.
Ready to implement these principles? Join TACK Insider at www.tackinsider.com for daily insights and weekly masterclasses on implementing these strategies.
The Long-Term Impact: Why People-First GTM is the Future
Deloitte's research shows that purpose-driven companies grow three times faster on average than their competitors while achieving higher workforce and customer satisfaction. And trustworthiness is a huge part of that purpose.
At TACK, we've seen firsthand how this approach creates a flywheel of sustainable growth. Our Community-led, Member-led, and Partner-led Growth strategies are all built on this foundation of trust and transparency. Here's how it plays out:
-
Community-led Growth: By fostering a transparent, trust-based community, we create a space where members freely share insights, challenges, and solutions. This helps our customers succeed and provides us with invaluable feedback for product development and service improvement.
-
Member-led Growth: Trust enables us to involve our members deeply in product development. They're more willing to provide honest feedback, beta-test new features, and even advocate for our product to their networks.
-
Partner-led Growth: When partners trust us, they're more likely to recommend our solutions to their clients. This trust-based network effect amplifies our reach and credibility in the market.
Remember, in B2B, the sale is just the beginning of the relationship. By prioritizing trust and ethical practices, you're not just acquiring customers—you're building an ecosystem of advocates, partners, and collaborators. This powerful network effect creates a moat around your business that's hard for competitors to breach.
Putting It Into Practice
So, how can you start implementing these trust-building strategies in your own work? Here are three steps to get you started:
-
Audit Your Current Practices: Take a hard look at your marketing, sales, and customer service processes. Are there areas where you could be more transparent or ethical?
-
Involve Your Team: Building trust should be a company-wide initiative. Hold workshops or training sessions to ensure everyone understands the importance of trust and how to embody it in their work.
-
Start Small, But Start Now: You don't have to overhaul everything overnight. Begin with one area, like making your pricing more transparent or improving your customer feedback process. Small wins can create momentum for bigger changes.
I remember when we first started this journey at TACK. It felt daunting. But we started small, with a commitment to being more transparent in our customer communications. Our positive feedback gave us the confidence to extend this approach to other areas of our business. And the results have been transformative.
As marketers, we have the power to drive this change. By embracing trust and transparency, we're not just improving our marketing strategies—we're elevating our entire profession. We're showing that marketing can be a force for good, driving sustainable growth that benefits everyone.
So, are you ready to join the movement? To become a marketer who's known for integrity, transparency, and genuine value creation? It's not always the easiest path, but I can tell you from experience it's the most rewarding.
Here's to your success,
Nick
P.S. Got questions or want to share your own experiences with building trust in B2B? Hit reply or drop a message in our Slack community. I'd love to hear from you!
