17
Feb
What is the level of trust in your industry?
Written By TotalTrust
Comments Off on What is the level of trust in your industry?

We study trust in leaders, teams and organizations. We always want to know why trust is present or absent in our leaders or institutions.  As you might know, we look at what we call, the ROCC of Trust: are leaders, teams and organizations 1) reliable, 2) open/honest, 3) competent and 4) compassionate.

One interesting study I read recently is by Fred Reichheld, who created the Net Promoter Score. He found that consumers actually trust Amazon, PayPal and Apple more than their own financial institutions. This chart here shows how consumers rank their own bank vs. other entities that they exchange money with on a regular basis.

Have you ever considered whether or not you and/or your organization is the trusted leader in your industry? Or even outside your industry?  Would your customers rank you highest on these attributes (which are similar to our ROCC of trust variables)?  Why or why not?  If not, what could you do to improve the level of trust with your customers?

We will be giving this subject more thought at an upcoming panel discussion on March 13th through a gathering at Campbell University.  If you are interested in this subject and will be in Raleigh, NC on that day, please join us!  You can RSVP here.