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Defining a Trustable Company

May 24, 2012 by Stephen O'Neil, Marketing Associate, Disney Institute

According to the 2012 Building Customer Trust Study by Peppers and Rogers Group, 68 of nearly 100 respondents viewed their companies as being trustable either “to a large extent” or “completely.” But what makes your company “trustable” according to your customer? The top three factors, according to the customer were:

1. Delivers what it promises
2. Focuses on doing the right thing for customers
3. Apologizes and corrects mistakes

The survey notes that, “Too many businesses continue to earn profits by taking advantage of a lack of consumer knowledge...” but don’t look for that trend to continue. In an increasingly interconnected marketplace, consumers are more informed and, as a result, expect companies to be more transparent.

If you are unsure whether or not you would consider your company trustable, ask yourself these questions:
1. Would you say that your company’s financial success in generally aligned with what is good for the customer?
2. Overall, would your company make more money from an uninformed, unknowledgeable customer, or from a well-informed, knowledgeable one?
3. Does your company make more money when your customers forget to claim what they are entitled to?
4. Does your company make more money when a customer commits a minor error—an error that is easy for the customer to make and would be easy for the company to fix?





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