Trust is a Key Component of Branding

by Joe Lavelle on September 28, 2009

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trust

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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