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Trust is a Key Component of Branding
3 Comments | Posted by Joe Lavelle in Career Acceleration, Personal Branding
One of the points of focus in my upcoming book, Act As If It Were Impossible to Fail, as well as in my individual consulting sessions with clients, is the idea of personal branding. How are you marketing yourself to potential employers? What do you offer that makes you unique from all of the other professionals who also have the desire to get ahead in your chosen field? In my work, I help people learn how to put their best foot forward and share their brand with the world.
I found a great article published recently on the MSNBC website that shares the ways in which some major corporations also are having to rethink their branding. The article accurately states that, “In the world of branding, trust is the most perishable of assets.” Consumers are having a difficult time believing that businesses know how to manage their goods and services, particularly in light of the recent bailouts. A recent poll shows that only 44% of Americans have trust in business, which is down from 58% two years ago. These numbers cannot be good news to entrepreneurs and CEOs who are in a struggle to convince consumers to part with money in this tough economy.
The CEO of the Stamford brand consultancy Arcature, Larry Light, shares this important point: “Trust is what drives profit margin and share price. It is what consumers are looking for and what they share with one another.” You can rest assured that if you disappoint one person and don’t deliver on your promise, it won’t be kept a secret for long. And, although it might be unfair, most businesses are being held accountable in the eye of public opinion for the poor management made by a few. Everyone is working harder to prove that they really do care about you!
Check out the article and read what companies like McDonalds and American Express are doing to build trust.
What about you? Have you noticed a change in the tone of commercials? What are some examples you have seen of companies working to earn your trust recently?
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3 Comments for Trust is a Key Component of Branding
Jeannette Paladino
Author comment by Joe Lavelle
Hello Jeanette and thank you for your insightful message. I could not agree more with you. I feel that trust and candor go hand in hand, especially in communications. Best wishes – Joe.
Do You Have a Catchphrase? | Act As If It Were Impossible to Fail | October 16, 2009 at 12:57 am
[...] order to make a name for yourself in your chosen profession, you must develop a deliberate plan of personal branding. How are you going to make sure that people remember you and the strengths and talents you [...]
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Hello Joe — I’m a great believer in trust in all parts of the business. I’ve written about the importance of trust in employee communications — employees are the direct link to customers and can have an enormous influence on a company’s brand. Trust is the core component of a Culture of Communication. All communications must be reliable, truthful and contain the full story. At the heart of trust is:
Openness – there must be an unwavering commitment to and support of a healthy two-way communications environment
Simplicity – communications must be clear, meaningful and accessible
Consistency – messages should support the company’s plan and be communicated on a regular basis
Caring – you must foster concern for the individual
Employees can be a company’s most important brand advocates.