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Trust is the currency of branding. And brands exist in the mind of consumers. Nowhere else. Advertising and messaging can only alter or reinforce perceptions of the brand in their minds. In business, higher customer trust quotient translates to greater chances of making profits. But why trust businesses? Because every brand makes promises to its consumers such that when these promises are delivered, brands naturally earn their trust. But when the promises are empty, they just scoff at the disconnect between the actual consumer experience and the message.
Trust is therefore a deal-breaker. A fair trade with benefits flowing between consumers and businesses is the goal of all brands. Marc Benioff, CEO Salesforce admits that trust is one of the primary components of a healthy brand-customer relationship. Without trust, brand loyalty loses its share, repeat purchases are difficult to earn, customer referrals dip and ultimately market share is lost for businesses. Most brands get this. They understand that listening to their consumers, empowering their employees at work, and responding to market trends make them tick. This module is all about understanding great brand promise stories and further delving into understanding how successful businesses are more than just a trusted logo, icon, or a mascot.