In
BusinessWeek's issue of last week there was a lot
written about why Brands have fallen in overall impact and how trust or lack
thereof has been a significant contributor to a falloff. In that article
Larry Light, CEO of the brand consultancy Arcature makes the argument,
"Trust is what drives profit margin and share price," he says
"It is what consumers are looking for and what they share with one
another." He is right in the point he makes but more importantly
omits the direct link up between Trust and Loyalty. In fact that
connection is so fundamental it drives everything else. Profit Margin and share
price flow from Loyalty. (Harvard's professor James Heskett's Service
Profit chain.) Trust Matters
It is a confident
dependence on the character, ability or truth of someone or something. If you
serve well, you will be: Respected, Valued depended on and trusted. You become a
significant resource, a dependable partner, a loyal supplier...
Remember trust is always yours to retain, build or sadly lose. Trust is about
Personal Integrity