Welcome to the E-commerce Germany News Podcast powered by the E-commerce Berlin Expo.
In this episode of the EGN Podcast, powered by the E-Commerce Berlin Expo, our host Efe von Thenen dives deep into the vital role of trust in e-commerce with Dr. Bastian Kolmsee, Chief Product Officer at Trusted Shops. Trust is one of the most significant factors influencing online shopping behavior, and this discussion sheds light on how businesses can build credibility to stand out in a competitive market.
Bastian shares his inspiring journey, starting at Trusted Shops in 2009 and growing with the company to now lead its product strategy. Trusted Shops connects businesses and consumers by providing services like trust marks, buyer protection, and customer review tools. These elements not only enhance trust but also boost conversion rates and customer retention.
The conversation explores the evolution of trust, from institutional and distributed trust to the era of personalized trust we live in today. Bastian explains how businesses can adapt to this shift by prioritizing transparency, offering secure payment options, and ensuring a seamless customer experience. Real-life examples, such as SNOCKS. increasing its ROAS by 25% on TikTok and over 100% on YouTube by using trust signals, highlight the measurable impact of building trust.
The episode also tackles challenges such as fake reviews and the growing importance of authenticity in a digital world influenced by AI. Bastian emphasizes the need for businesses to ensure their trust-building strategies are tailored to individual customers, meeting their specific needs and expectations.
🟠 Interested in being a guest on our podcast? Reach out to us at pr@ecommerceberlin.com
Timestamps:
(00:00:00) Introduction
(00:02:25) Bastian’s career journey at Trusted Shops
(00:06:12) How Trusted Shops started and evolved
(00:11:05) Trusted Shops’ international footprint in Europe
(00:14:55) How Trusted Shops helps their customers
(00:16:28) The evolution of trust in e-commerce
(00:19:08) Trusted Shops Trust mark process
(00:21:05) Trusted Shops’ features
(00:22:25) Building the customers trust
(00:24:00) Impact of trust signals on ROAS: SNOCKS case study
(00:26:15) First impressions that build trust in online stores
(00:28:36) Retaining customers through trust
(00:29:25) Video reviews as a trust-building tool
(00:30:30) Addressing fake reviews in e-commerce
(00:35:36) Conversion impact of trust: Flyeralarm case study
(00:40:06) Bastian’s tips for beginners in e-commerce
(00:42:10) Consumer skepticism and trust challenges in 2024
(00:46:02) Closing thoughts and takeaways
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