According to a survey on customer intelligence by PwC, only 30% of consumers trust the businesses they buy from. Interestingly, the same survey finds that executives have a lot more faith in the trust they inspire; almost 87% think that consumers have a “high level of trust” in them!
Trust is the backbone of customer retention, and given this discrepancy, it is vital that businesses focus on building customer trust. And when they can do it while serving the cause of the planet and its people, the gains are exponential. Here are some examples of companies with unique consumer-centric programs that champion sustainable and ethical practices.
- The North Face: exploring for the greater good
Many companies offer points-based reward and redemption programs, but the one offered by The North Face’s XPLR pass stands out from the crowd.
The North Face is a well-known manufacturer of outdoor clothing and gear. XPLR pass members can field test the athletic gear they purchase, and return it if they are dissatisfied. The North Face regularly hosts outdoor events for members as well, such as treks and camps. Once the gear is used and worn, members can return the items to be recycled and receive 10$ worth of credit!
Such a reward program not only encourages customers to buy and actively use the brand’s gear, but also advocates for their well-being with its provisions for fitness and exercise, while showing that the company is environmentally responsible. Field testing is a great way to provide members with quality assurance, and keep them coming back for more.
- Monzo: customer care, personalized
As an app-based bank, Monzo is tailored for easy access on mobiles, and they further encourage accessibility with their “Share With Us” feature. If a customer faces any issues (even personal!) related either to their finances or Monzo itself, they can contact Monzo representatives, who will personally walk them through a viable solution.
Monzo provides examples of the various issues they can help with. In a real-life anecdote, a customer with PTSD messaged the Monzo support team, stating her discomfort with phone calls, and requested that any frustration or harshness on her end be excused. The team responded by setting up a protocol for interaction, which included avoiding calls where possible and speaking in a casual tone with the customer.
Such an ability to personalize support for customers and prioritize their mental health and comfort speaks volumes about the brand’s commitment towards the people it serves.
- Universal Standard: redefining fashion recycling
With their “Reset, Recycle, Refresh” program, the womenswear brand Universal Standard not only sells clothes of all sizes, but receives and recycles them, too! Customers can buy a bag from them, fill it with old clothes, and send back the clothes for recycling.
To ensure that customers make the most of this program, Universal Standard even offers vouchers as an incentive. Contributors receive a voucher worth 25$ per article of clothing up to 100$, i.e. 4 pieces of clothing.
With a reward that offsets the cost of the bag, consumers are encouraged to better their carbon footprint while improving their perception of the company as a go-to, eco-friendly brand.
Improved accessibility to quality products and services, more control in the hands of customers, and ways to reduce the impact of the business on the earth – programs like these don’t just help companies boost their reputation. They also help businesses score higher on customer trust parameters, ensuring they have a better chance of keeping customers loyal over the long-term.