According to an October 2016 study conducted by Forrester Consulting on behalf of SAP, 67% of companies think their buyers are making purchases at or below the minimum confidence threshold. On a scale of 1 to 10, with 1 being no confidence and 10 being complete confidence, 80% of companies surveyed by Forrester estimate that their buyers prefer to have a level of trust of 7 or higher before making a purchase. Speaking to a customer service representative before buying a product can provide a prospective buyer with the information he or she needs to conduct a transaction confidently.
- The massive deals and discounts offered during the annual post-Thanksgiving event were largely responsible for the day’s extraordinary sales.
- One way to define confidence is “the feeling of being certain that something will happen or that something is true.”
- Today’s buyers are smart, and they’re wary of spending their hard-earned cash on products or offerings that won’t meet their standards.
“By providing prospective customers with essential information about your products or services – via customer ratings and reviews, customer support tools, Q&As, and other relevant content available through a customer community – your business can help buyers make smarter purchases, increase customer satisfaction, boost revenue, reduce buyer dropout and drive long-term customer loyalty.”