Trajectory of Trust in American Business Shows Signs of Improvement if Brands Act Decisively (page 2 of 2)

Today, 46% of Americans say that CEOs are doing the right things to restore trust, up 8% from August 2002.

Jernstedt points out that "CEOs are the ambassadors of the brand, the ones who set the tone and direction for trust in the brand by customers, investors, employees, marketplace partners and the communities in which the company does business. While corporate leadership still has a long way to go in restoring trust, the research makes one thing crystal clear: Americans expect CEOs to take the lead, make a meaningful commitment to trust-building, be accountable -- and deliver on the promise of trust through corporate behaviour."

Statistics Show Trust Can Build or Bust a Brand

Equally important, companies investing in trust will reap its rewards, for the data reveals that trust can build - or bust - a brand. 39% of consumers said they definitely or probably would start doing business with a company or increase their business specifically because the company is trustworthy. An even larger number - 53% - said they would definitely or probably stop, reduce or switch their business to a competitor if they have doubts about a company's trustworthiness. Moreover, an overwhelming 8 out of every 10 Americans will give a company they trust the benefit of the doubt and listen to their side of the story before making judgements about questions of corporate behaviour.


"For trust to last the lifetime of a brand, trust must be constantly infused into the lifeblood of the brand. Building and sustaining trust requires an ongoing commitment," explains Ellen Ryan Mardiks, Golin/Harris' Chief Marketing Officer. "The essence of the Trust Bank theory is a brand that consistently works to build trust as part of its core values and everyday business practices. Smart companies will amass trust assets that can be called upon to protect the brand in tough times. Without these deposits in its Trust Bank, a single breach of trust can devastate a company because you have no track record of trust-enhancing behaviour to call upon. That's the lesson American business has learned the hard way this past year."