Trust

Not my best snap but here's our CEO talking about the Trust study results (while out resident tech-wiz fixes the screen). Some interesting facts came out of it: World wide there has been a loss of trust. Only government has seen an increase in trust. The reason for that is that (iirc) Indonesia and India have new governments that a lot of citizens are excited about. In Russia trust in the government has also gone up, potentially due to patriotic feelings driven by Russia's forceful foreign affairs politics. Without those countries, trust in government has also decreased world wide.

There's a lot to take in and I'm still not 100% sure how we can operationalise it but I am curious. Something that I noticed is that trust in products, that a consumer hadn't used was very low. Another person pointed to this and said it's proof that we need to spend more time building customer loyalty (to increase word of mouth) and convincing non-customers to trust us. I think that may be part of the puzzle, but after reading How Brands Grow, I feel the more important piece is to increase penetration so that as many potential customers as possible have tried the product. It's hard to change sentiment. And contrary to popular belief behavior drives sentiment, not vice versa. So if a customer has tried a product they will trust it more innately. If you ask them why they will point to all the good features. However, in my oppinion a lot of this is backwards rationalisation. The reality is they trust it because they have used it.

I think I'm going to do an internal talk on that issue.