Blog

Can Your Company Compete with Radical Trust?

Posted on October 28, 2016 at 7:37 AM
Several years ago I heard a story about a shoe repair shop from one of their long-time customers.  It’s a small business tale about trust with a twist that might surprise you.  Like many businesses, this shoe repair shop was built on a self-service model.  That model was necessary because the sole proprietor did his cobbling at night; during the day he held down a full-time job as an employee of another company.  His customers left their shoes for repair in a converted newspaper vending machine located on his front porch.  Shoes that were ready for pick-up as well as the money folder were also in the machine.  Yes, I said the money folder.  Customers dropped off and picked up their shoes and also left their payment.  He never came up short, of money or shoes.
 
In the last few years there has been plenty of material written about earning customer trust.  However; you don’t see much written about trusting the customer.  Can you earn trust without giving it?  For the cobbler’s customers in that rural community it appears a key to giving trust was getting it first.
 
Today we would describe that type of business climate as “radical trust.”  It’s a state of trust where parties on both sides of a transaction fully recognize the greater benefits of reciprocal good faith.  The cobbler let his customers into his inner circle by trusting that he would get paid for his work.  He believed that people were inherently good and let the self-policing reputation-based honor system work.
 
I suspect for many businesses it would be a scary thought to implicitly trust their customers.  And yet, without trust most relationships will not move forward.  I often think of trust through the following formula:

Trust = (Rapport x Credibility) / Risk
 
Actions that help develop rapport and credibility, while at the same time reducing risk, will build long-lasting, trust-based relationships.  In marketing, Collin Douma describes the notion of radical trust as a key mindset required for marketers and advertisers to enter the social media marketing space.  In his opinion, the tide has turned and now marketers must radically trust the consumer in order to build the brand.
 
Trust is the real currency in the social economy.  Does your company trust the customer?  Small businesses typically produce nearly half of the U.S. private nonfarm GDP. You can’t help but feel that radical trust is an important part of what holds our economy together.



Categories: Customer Experience, Leadership, Public Relations

Post a Comment

Oops!

Oops, you forgot something.

Oops!

The words you entered did not match the given text. Please try again.

204 Comments

Reply RodoPoste
2:05 AM on May 14, 2022 
https://newfasttadalafil.com/ - Cialis Hdtlne Video Diabetes Why managing blood sugar is so important. canadian pharmacy cialis medication comparison levitra or cialis https://newfasttadalafil.com/ - Cialis Buy Onadron
Reply RobertroX
3:00 AM on June 26, 2022 
buy metformin 500 mg without a rx
Reply UgoBoozy
10:08 AM on June 26, 2022 
avodart online buy
Reply KimBoozy
5:37 PM on June 26, 2022 
where can you buy zovirax
Reply Charlesprini
5:47 PM on June 26, 2022 
can i buy over the counter viagra
Reply AlanBoozy
5:51 PM on June 26, 2022 
canadian pharmacies compare ventolin cream how much is synthroid toradol canada cheapest modafinil price where can i buy metformin over the counter bactrim 800 mg tamoxifen 20 brand name
Reply JackBoozy
5:58 PM on June 26, 2022 
avodart for sale
Reply ZakBoozy
11:08 PM on June 26, 2022 
toradol for headache online pharmacy no rx gabapentin 103
Reply BooBoozy
7:35 AM on June 27, 2022 
singulair allergy
Reply JimBoozy
9:49 AM on June 27, 2022 
retino 0.25 cream
Reply MarkBoozy
10:26 AM on June 27, 2022 
propecia tablets
Reply CarlBoozy
12:22 PM on June 27, 2022 
xenical cost in canada
Reply KiaBoozy
5:43 PM on June 27, 2022 
toradol 15 mg
Reply MaryBoozy
1:09 AM on June 28, 2022 
price of diflucan in india provigil 400 mg allopurinol 1000mg clomid for sale online orlistat 120 mg price
Reply WilliamPaita
2:01 AM on June 28, 2022 
albuterol otc canada zovirax cream medicine orlistat canada vermox 100mg price feldene 20 mg tablets erectafil 2.5
Reply DarrylPix
5:40 AM on June 28, 2022 
stromectol tablets buy online buy suhagra 100mg online citalopram 60 mg buy suhagra 50 mg propranolol cost in india discount viagra online buying nolvadex
Reply MarvinWaisk
8:32 AM on June 28, 2022 
viagra online safely
Reply DarrylPix
3:24 PM on June 28, 2022 
purchase vardenafil order ventolin from canada no prescription glucophage medication viagra feldene online cheap clomid uk buy retin a cream
Reply BooBoozy
7:16 PM on June 28, 2022 
12.5 mg phenergan
Reply WimBoozy
10:01 AM on June 29, 2022 
tadacip 20 mg canada