Newcomer brands in each industry category have different challenges in building trust as a new, unfamiliar brand. When the risk of trying a new brand is low (a razor, a shampoo, or a beverage), sizzle marketing can get the consumer to try the brand. Conversely in financial services, automotive, and other big-ticket categories trust-building is more important.
Eric Satz, Founder and CEO of Alto Solutions, a Nashville-based alternative retirement investment platform discussed the importance of building trust in the market.
Alto Solutions’ Alto CryptoIRA product lets investors use retirement savings to buy, sell, and trade directly through Coinbase, so Alto is in a position category that traditionally requires a lot of marketing to build trust. We covered the topic of consumer trust for startups and brands more generally.
In the full interview we discussed other marketing challenges specific to startups as well as the Alto origin story.