7 Ways Startups Can Quickly and Successfully Establish Business Credibility

So, you started a business and want to be a reliable source for prospective customers. There’s just one problem. You’re new to the game, and you know it takes time to establish business credibility.

While there are several pieces of information on the internet about establishing credibility, you aren’t finding what you need. You keep hearing people say things like “make content consistent” and “showcase your achievements,” but that isn’t helping. As a self-starter, you need tools and resources to establish business credibility so you can take actionable steps and achieve tangible results.

But before we dive into detail on the steps you can take to establish credibility for your business, let’s first answer an important question.

Why is credibility important in business?

To understand why business credibility is important, we need to consider how it benefits an organization. Financial assurance, quality employees, and increased customer lifetime value are just a few benefits of business credibility. Others include employee retention, long-term customer acquisition, and new development opportunities.

You see, business credibility starts long before the first customer even makes a purchase. It begins when a company is forming. Leadership credibility can affect loan approvals and investor networking opportunities. Meanwhile, business credibility affects employee acquisition, customer loyalty, and trustworthiness in product offerings.

People associate reputation with credibility. Therefore, you must set your organization up for success and establish credibility from day one.

How to build business credibility: 7 steps for startups

Building a business from the ground up can be difficult. There’s paperwork, regulations, and strategies to hash out. Things can feel overwhelming when you layer credibility to this part of the startup process. Overwhelming, however, doesn’t have to be your new normal. Consider the following ways to establish credibility from day one:

1. Have a professional design your website

Nearly half of consumers (46.1%) admit to judging a website’s credibility solely on its design. When it comes to this statistic, the saying that perception is reality has never been more true. The more professional your website is, the greater an audience trusts your brand to fulfill their needs.

Badly designed websites can be confusing and frustrating to navigate. Set design parameters to help organize and clarify the message your organization is trying to get across. The more consistent your website is, the easier it is for someone to understand and trust your content.

2. Get in the Google reviews game

Odds are, you’ve traveled to a new location and searched for a place to eat. More than likely, you looked up the restaurant on the internet and used Google reviews to help make your decision. This same practice applies to most individuals and businesses across various industries.

Nearly 70% of online shoppers will read between one and six customer reviews before making a purchase, and 59% of consumers use Google to find customer reviews, making it the most popular review channel. People trust online reviews as much as a recommendation from a friend. Therefore, these digital references are a sure way to help establish credibility with your prospective customers.

You might be thinking it will take you a long time to get a reputable number of Google reviews for your business. While this could be the case for some startups, it doesn’t have to be your story. For example, I once worked with a dentist who only had 70 reviews when I started helping his practice as a marketing director; six months later, he had 370 reviews.

So, what did we do? We utilized review tools to automate our Google review process. We also incentivized team members when we hit a certain number of reviews and when a customer mentioned their name in a review. This collaboration made everyone excited to ask for a review and increased our credibility with customers.

3. Join the Forbes Business Council

The Forbes Business Council is an organization designed specifically for small and medium-sized business owners and executives. This group is associated with Forbes, which reaches more than 150 million people, so just being a member can improve your business status and reputation. In addition, members can participate in expert panels and write articles, which enhances their reputation as thought leaders.

It’s important to know that Forbes Business Council is an application-only program. The good news is that because the program is selective, your authority status gets elevated that much more once you’re chosen.

4. Create impactful thought leadership content

In a survey of over 1,200 businesses leaders, only 18% said the thought leadership content they consumed was excellent or good—or 82% of content isn’t hitting the mark. This is why impactful thought leadership content can set your organization apart from others when you’re just starting.

But, what is effective thought leadership content, and how do you create that initially? Here are a few tips to help you create content that establishes credibility and resonates with your audience:

• Consider how your content will solve a need for prospective customers.
• Think about the emotions you want your audience to feel as a result of your information.
• Plan out the actions you want someone to take after consuming your content.
• Layer your own research or data into content pieces you create.
• Gather interview statements or client testimonials to leverage across digital channels.
• Discuss ideas competitors aren’t already talking about on podcasts, social platforms, and other content formats.

5. Participate in C-Suite chats

C-Suite chats are an effective way to establish yourself and your organization in its respective industry. Here, executive leaders can discuss helpful insights, data, tips, and tricks related to their businesses. People view executives and leaders as experts in their field and, as a result, often pay more attention to the conversations.

C-Suite chats have been around for a while and mainly took place at Rotary Clubs and with other professional groups. But thanks to the digital era, here are some trending C-Suite formats you can leverage in your business:

Examples of business credibility

• Company blog—Your company blog is a great place to post interview-style conversations with company executives. You can also share information from partners and other high-level leaders you collaborate with in your industry.
• Clubhouse rooms—Clubhouse is a great way to reach a large audience via audio education. Small business leaders can create rooms related to their business, and others have the opportunity to listen and learn. Executives like Elon Musk and Mark Zuckerberg have shared discussions on the platform, increasing user engagement.
• Instagram Live—Through Instagram, executives can host live Q&A sessions on their business pages with existing customers and prospective clients. Going live establishes credibility between a brand and its audience and makes your startup more relatable.
• YouTube collaborations— YouTube discussions between like-minded business owners help clarify company positions, establish credibility, and educate audiences.

6. Host a business podcast

Business podcasts are another great way to boost credibility. More than half of U.S. consumers (57%) have listened to a podcast, and 41% of Americans listen to podcasts at least once a month. Educational podcasts are the second-most popular podcast genre.

Think of business podcasts as chapters in a book and listeners as fans. Audiences listen to audio snippets to learn. Therefore, they enable you to share knowledge with a target audience, establishing brand credibility by increasing your startup’s digital footprint.

On a podcast, you can interview business partners and customers, share tips, and do many other things to increase your credibility. Popular shows like Planet Money and the Mind Your Business Podcast have used similar methods to generate millions of listeners and establish themselves in the startup landscape. The key is to generate authenticity in the conversations you create.

7. Give a TEDx Talk

TEDx events include live speakers and recorded TED Talks, and are organized independently under a free license granted by TED. More than 3,000 TEDx events are held annually.

Some of the most-watched TEDx Talks have over 11 million views—that’s a high number of individuals leaning on TEDx Talks for personal growth tactics or business strategies. So, why not use that exposure to your benefit and give a TEDx Talk to elevate your brand? Thousands of individuals have given TEDx talks since the program started in 2009, with more entrepreneurs and executives giving them each day.

Other tips for businesses to gain credibility

Establishing your business as a credible source takes time and commitment. First, consider how what you do resonates with others. Next, think about the types of connections you want to make and the employees and customers you want to work with along the way. Here are a few more suggestions to establish your credibility:

• Network or partner with other credible businesses in your area.
• Provide unique customer perspectives in advertising campaigns.
• Showcase your credentials or awards.

How to measure credibility in business

Once you have learned how to build credibility, it’s time to understand how to measure it. One way to measure credibility in the business world is to look at your organization’s referral percentage. The more customers and other businesses trust your reputation, the greater number of referrals you’ll receive.

For a dentist, credibility could be percentage of orthodontic referrals + new customer referrals from existing clients, while for for a software company, it might be the number of value-added resellers you’ve added to your partnership list. Here’s a simple equation to measure business credibility:

Credibility = Customer Referrals + Business Referrals + Number of New Partnerships/
Total Number of Customers/Partners Associated With Your Business

If we took this equation and applied it to the software company example, here’s what we’d get. Last month they had a total of 5 new customer referrals. In addition, 3 businesses referred them to other organizations. They also acquired 2 new value-added resell partners. So if their total number of partners and customers is 200:

Credibility = 5+3+2/200 = 0.05

As you can see, the software company’s credibility rating is 5%. You can compare these numbers month-to-month to determine your company’s average credibility score. Then, use that average to set a baseline goal and a target goal for your business.

The ROI of credibility

Ultimately, credibility is the foundation for any business. From getting a business loan to generating new customers, your reputation is what sets you apart from others. Consider the impact a professionally designed website, Google reviews, and impactful thought leadership content have in establishing your business presence.

Leverage credible brands like Forbes and TEDx to propel your business’s reputation forward. Create podcasts and cohost conversations with other leaders in your space. Then, measure the credibility rating of your organization and compare it month over month.

Once you have a solid data foundation, you might consider looking at the relationship between revenue and credibility. Odds are you’ll find consistencies between high credibility ratings and increased revenue. Tapping into the role credibility plays in your business early on can save you hard-earned dollars, time, and brand headaches, while increasing your startup’s chances of success.