A thought provoker recently published an article that asked if brands need to be trustworthy to gain customer loyalty. Trust and loyalty enter the minds of owners of timeshare interests either consciously or subconsciously all the time. Partially true information, being told what the prospective buyer wants to hear, omitting full disclosure, under estimating timelines, failing to meet expectations, making changes through interpretation are a few examples where trust and loyalty enter the timeshare ownership paradigm.
Her name is Rachel Botsman. She writes, speaks and educates. Her focus is teaching people and organizations how to rethink their relationship with trust. Here is the source of the article: https://rachelbotsman.substack.com/p/why-loyalty-and-trust-are-not-the?publication_id=1151244&post_id=135094454&isFreemail=true&utm_source=substack&utm_medium=email
The article discusses trust and loyalty in the context of customer relationships with brands. The author shares personal experiences and observations to explore whether trust necessarily leads to loyalty or if they are distinct and can exist separately.
The main points of the article are as follows:
Questioning Trust and Loyalty:
The article begins with a question posed by a leader of a large brand: "Can you have loyalty without trust?" The author's initial response is that trust leads to loyalty, but she expresses curiosity about whether trust and loyalty are moving closer together or further apart in today's world.
Personal Examples of Loyalty:
The author shares examples of brands and individuals and loyalty. For example, she cites being loyal to local suppliers, authors, and some writers on Substack due to emotional connections and repeated interactions. On the other hand, she admits not being loyal to certain brands like supermarkets and airlines, even though she trusts them.
Defining Customer Loyalty:
The article defines customer loyalty as both an action and a feeling. It involves repeatedly buying from or interacting with a brand while also having an emotional connection to it. True loyalty is characterized by rejecting competition, sticking around even when it's not easy, buying products, advocating for the brand, and providing honest feedback.
Trust vs. Loyalty:
The article highlights that trust and loyalty are not necessarily interchangeable. Customers may trust a brand for certain aspects, but that doesn't automatically lead to loyalty. Conversely, customers may be loyal to a brand even without fully trusting it. The article suggests that the highest form of loyalty requires deep trust.
Earning Trust and Loyalty:
The author emphasizes that brands and individuals can earn both trust and loyalty through consistent and caring actions, authentic connections, personalized interactions, and reliability.
The Ultimate Combo:
The article concludes by asserting that both loyalty and trust are valuable and complementary qualities. An anecdote about a loyal and trustworthy individual named Bob illustrates how loyalty and trust can reinforce each other.
Overall, the article offers insights into the complex relationship between trust and loyalty, acknowledging that they are related but distinct concepts. Trust may lead to loyalty, but loyalty can also be earned through other means, and the ultimate goal is to cultivate both trust and loyalty to build strong customer relationships.
One final thought: A customer experience agency found loyal customers are 5x as likely to repurchase, 5x as likely to forgive, 4x as likely to refer, and 7x as likely to try a new offering. Wow, especially on the forgiveness point.
In the context of your relationship with Vidanta over the years, what are your emotions? Do you trust Vidanta? Are you loyal to Vidanta? If you are like most Vidanta timeshare owners, you have a mixed bag of emotions that may change each time you visit a Vidanta property.
Her name is Rachel Botsman. She writes, speaks and educates. Her focus is teaching people and organizations how to rethink their relationship with trust. Here is the source of the article: https://rachelbotsman.substack.com/p/why-loyalty-and-trust-are-not-the?publication_id=1151244&post_id=135094454&isFreemail=true&utm_source=substack&utm_medium=email
The article discusses trust and loyalty in the context of customer relationships with brands. The author shares personal experiences and observations to explore whether trust necessarily leads to loyalty or if they are distinct and can exist separately.
The main points of the article are as follows:
Questioning Trust and Loyalty:
The article begins with a question posed by a leader of a large brand: "Can you have loyalty without trust?" The author's initial response is that trust leads to loyalty, but she expresses curiosity about whether trust and loyalty are moving closer together or further apart in today's world.
Personal Examples of Loyalty:
The author shares examples of brands and individuals and loyalty. For example, she cites being loyal to local suppliers, authors, and some writers on Substack due to emotional connections and repeated interactions. On the other hand, she admits not being loyal to certain brands like supermarkets and airlines, even though she trusts them.
Defining Customer Loyalty:
The article defines customer loyalty as both an action and a feeling. It involves repeatedly buying from or interacting with a brand while also having an emotional connection to it. True loyalty is characterized by rejecting competition, sticking around even when it's not easy, buying products, advocating for the brand, and providing honest feedback.
Trust vs. Loyalty:
The article highlights that trust and loyalty are not necessarily interchangeable. Customers may trust a brand for certain aspects, but that doesn't automatically lead to loyalty. Conversely, customers may be loyal to a brand even without fully trusting it. The article suggests that the highest form of loyalty requires deep trust.
Earning Trust and Loyalty:
The author emphasizes that brands and individuals can earn both trust and loyalty through consistent and caring actions, authentic connections, personalized interactions, and reliability.
The Ultimate Combo:
The article concludes by asserting that both loyalty and trust are valuable and complementary qualities. An anecdote about a loyal and trustworthy individual named Bob illustrates how loyalty and trust can reinforce each other.
Overall, the article offers insights into the complex relationship between trust and loyalty, acknowledging that they are related but distinct concepts. Trust may lead to loyalty, but loyalty can also be earned through other means, and the ultimate goal is to cultivate both trust and loyalty to build strong customer relationships.
One final thought: A customer experience agency found loyal customers are 5x as likely to repurchase, 5x as likely to forgive, 4x as likely to refer, and 7x as likely to try a new offering. Wow, especially on the forgiveness point.
In the context of your relationship with Vidanta over the years, what are your emotions? Do you trust Vidanta? Are you loyal to Vidanta? If you are like most Vidanta timeshare owners, you have a mixed bag of emotions that may change each time you visit a Vidanta property.