Building more trust is our business. And some clients rightly question whether actively 'building trust' might be seen as a breach of trust itself. It's a valid point, applicable to customers, teams, investors, and the wider community.
This concern surfaces especially when demonstrating the positive impact of trust-building, like a doubled purchase propensity with a modest 10% increase or a team's doubled willingness to go the extra mile.
The explanation is straightforward: the value of your stakeholder’s trust is directly tied to the benefits it brings them. Even a slight increase in trust reduces worry, boosts confidence, and inspires individuals. This positive impact is reflected in the value to your business.
Contrary to exploitation, building more trust is a service to customers, teams, investors, the community, and the constituency – as one client aptly put it, 'building more trust is better customer service.'
However, a crucial caveat exists: trust-building must be genuine and honest to avoid becoming a betrayal of trust.
Interestingly, many clients are unaware of existing positive aspects (Trust Triggers®) that are highly relevant to building trust. For instance, a customer service call in a telecom company highlighted a missed opportunity. Despite stellar assistance, the agent failed to mention a forthcoming 5G upgrade in the customer's area, a detail that could have significantly boosted trust. For this specific customer we could see this fact on the screen. As an organisational brief, it’s easy enough to quantify the impact on trust and brief departments accordingly.
These instances represent missed chances to fill the 'development trust and benefit trust bucket' of TrustLogic®. From the customer's viewpoint, knowing about future upgrades not only instils confidence but also provides a conversation point (WOM/recommend).
Consider the potential impact on touchpoint NPS (Net Promoter Score, based on this conversation, how likely are you to recommend [BRAND]) – a small addition like mentioning a future upgrade could significantly influence loyalty and likelihood to recommend.
Let’s stretch this a little. Trust isn't just a transaction; it impacts emotional well-being. Studies indicate that mental health issues are lower in high-trust environments, potentially correlating with reduced cardiac issues. In essence, building more trust can be seen as a holistic approach, contributing to the well-being of your customers.
In conclusion, the process of building more trust is a practical relationship where the gains for you are mirrored in the enhanced value for your stakeholders.
For more insights, visit www.trustlogic.info and www.mextconsulting.com.
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