Posts Tagged ‘Madoff’

Branding for the Times

Friday, April 3rd, 2009


The recent Jacqui Smith furore provides yet another reminder of the aspect of our society that has been most damaged by the seismic events of the last 18 months or so. This is also something that brand owners are hugely reliant on: trust.

The implications are clear – in an increasingly sceptical world where a Madoff or Stanford seemingly lurks around every corner, we are going to have to work harder than ever to restore, maintain and sustain trust in our brands. With belief systems being shattered on a daily basis, brand equity has a much shorter shelf-life and this is how it’s going to be from now on…the world has changed and people have long memories.

‘Trust’ is used in a number of contexts, the most frequent usage being in relation to hope and belief. As such, we also need to sharpen our focus – whilst hope is without doubt important (particularly in the current climate), what people need now is to be able to believe. In an environment where ‘low risk’ investments have lost 40% of their value (and in some cases much more), people need proof. Transactions of every nature and value (not just those in Financial Services) need to be built on clear benefits and total belief that they will be delivered.

So, ask yourself what you are doing to build trust in your brand. Do your customers know how hard you fight to deliver them the best products and prices?…Do your clients have a clear understanding of the expertise you deliver and hence the value you add to their organisation?…Do they hope or do they believe?

(CC image by photographyjournal)