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It’s practically everywhere you look now: You’re inundated with ads and clickbait. And so are your future clients.
That’s why if you sell your expertise—as a consultant, advisor, founder, or knowledge-based entrepreneur—you’re not just competing on skills or pricing.
You’re competing on trust.
Welcome to the Trust Economy.
What Is the Trust Economy?
The Trust Economy is the emerging business reality where credibility, reliability, and emotional connection carry more weight than credentials, features, or even pricing.
Trust is now the gatekeeper to consumers’ decision-making. It determines who gets attention, who gets hired, and who becomes a long-term partner.
The shift toward a trust economy has been coming for a while, accelerated by digital transformation, misinformation, and a declining trust in institutions.
In a 2023 PwC survey, 90% of business leaders believed their customers highly trusted them—but only about 30% of customers agreed. (Wow.) That gap is the trust economy in action. It’s where perception and experience determine value more than advertising or positioning.
How the Trust Economy Works
In traditional economies, transactions are based on money, whereas in the trust economy, transactions are based on people's confidence and belief in you.
For instance:
- Consumers seek out and rely on information found through reviews, referrals, and social proof before making a purchase.
- They desire integrity and consistency in service-based relationships.
- They hire based on reputation, not just portfolios or documented success.
This is particularly true for experts selling intangible products, such as advice, consulting, software, design, and strategy. After all, buyers can’t "test" the product fully in advance, so they need to trust you.
This is the power of trust in this economy:
According to the Edelman Trust Barometer, 81% of people say trust in a brand is a deal breaker or deciding factor when purchasing. And research by Stephen M.R. Covey shows that companies with high trust levels outperform low-trust peers by up to 286% in total return to shareholders.
- Trust reduces friction in the buying process.
- It lowers perceived risk.
- It commands premium pricing.
- It increases loyalty and retention.
How To Turn Trust Into a Strategic Business Asset
To succeed in the trust economy, your mindset must evolve. Consider that trust isn’t just about likability or being ethical. It’s about how you consistently show up in every part of your business.
That means asking yourself these questions:
- Trust as a brand promise: Your brand isn’t your logo; it’s the emotional aftertaste you leave. Do people feel safe with you? Do they believe you?
- Trust as UX: Is your process clear, your communication consistent, and your delivery reliable? Confusion erodes trust.
- Trust as culture: Internally, do your team members trust each other? Do they trust leadership? Internal trust leaks out.
- Trust as influence: Do people turn to you for insight or validation? Authority is earned through consistent credibility.
Professional experts can turn trust into a true business asset by taking an intentional and operational approach. In other words, thinking of trust as a foundation and not as a box to check off.
5 Ways To Build Trust in a Distracted World
So, how can experts actually earn trust today? Through a repeatable, human-first strategy:
- Demonstrate competence and care. People trust those who know what they’re doing—and care about them while doing it. Warmth + competence is the winning formula.
- Show, don’t tell. Publish valuable content. Share client wins (with permission and in accordance with compliance requirements, if applicable). Let your work prove your worth.
- Build social proof. Testimonials, referrals, and shared networks are trust accelerators. If others trust you, new clients will too.
- Be transparent and consistent. Whether it’s your pricing, expectations, or timelines—clarity builds trust with your audience. Bad surprises erode it.
- Follow through. Do what you say, when you say it. Every delivered promise is a deposit in your trust account.
Trust Matters More Than Ever
You don’t need to be the loudest voice or the most decorated expert. You need to be the most trusted. That’s what leads to influence, loyalty, and growth.
So ask yourself: In every touchpoint—content, conversation, client experience—are you making trust easier or harder?
Because in the trust economy, your credibility isn’t just your reputation.
It’s your currency.