Download - "Extreme Trust" presented by Don Peppers
SOCIALMEDIA.ORG/SUMMIT2013ORLANDO
“Extreme Trust: Honesty asa Competitive Advantage”
DON PEPPERSPEPPERS & ROGERS GROUP
DECEMBER 9–11, 2013
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 1
Extreme Trust: How Honesty Can Actually Be a
Competitive Advantage
Orlando
10 December 2013
@DonPeppers
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 2
Competence
Having customer
trust has always
been important
Good Intentions
Doing things right
Doing the right thing
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 3
Moore’s Law
Every 20 years, computers get a
thousand times faster and cheaper
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 4
Every 20 years, we interact a thousand
times more with others!
Zuckerberg’s Law
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 5
And the more we interact,
the more trust we demand
Trust makes interactions more efficient
Interaction generates transparency
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 6
A new standard: Extreme Trust
Proactive trustworthiness
To serve socially connected customers, it’s not
enough simply to refrain from cheating or lying
“Trustability”
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 7
Extreme Trust often requires reducing
short-term profit to gain long-term value
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 8
Competence
Good Intentions
Doing things right
Doing the right thing
Proactively
Extreme Trust
“Trustability”
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 9
x Profiting from a customer’s error
x Failing to notify
x All “caveat emptor” policies!
Trustability Previously acceptable marketing
practices will soon become “untrustable”
Because of rising customer
expectations with respect to
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 10
70% of consumers trust the
recommendations of their friends
~50% trust online recommendations
from complete strangers
Just 10% of consumers trust advertisers
Is it any wonder why consumers
no longer trust marketers?
2013 study of 58,000 consumers
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 11 11
“Once the trust goes out of a relationship,
it’s really no fun lying to them anymore.”
Norm Peterson,
on the TV show “Cheers,”
accurately summarized the
dilemma marketers now face
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 12
Linda Kaplan Thaler, CEO, Kaplan Thaler Group
Screw up today, and the
“news” will be permanent
“You
can’t
un-Google Yourself”
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 13
Grant Robertson, blog post, May 1, 2007
“Dude, you can't take something bad off the Internet.
That's like trying to take pee out of a swimming pool.”
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 14
Thousands of bees constantly explore
territory looking for blooming flowers
When a bee finds a nectar-rich flower, it
returns to the hive to do a “waggle dance”
How Honeybees Find Food
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 15
Now suppose you were a food
source for bees…
In the absence of communication
among your customers, advertising rules
But when customers talk to each other,
it’s the customer experience that counts
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 16
“Just because nobody complains doesn’t
mean all your parachutes are perfect”
Or, as Benny Hill said…
Before customers interacted in social
media, failures were just not as visible
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 17
Your employees want to work for a trustable company!
At one US client we asked rank-and-file workers
for suggestions on being more trustable
We received ideas and suggestions from more
than 3000 employees!
Hundreds of ways they thought their company
should be more honest with its customers!
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 18
And one more thing:
Integrity is not elastic
No one ever has just “some” integrity
If you can earn and keep the Extreme Trust of
its customers, then
Workers will trust managers and each other
Vendors, stakeholders, partners and
investors will all trust your company more
Strategy. Execution. Results.
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 19
won’t just make you a more
profitable company…
…it will make you a better company!
Trustability
COPYRIGHT © 2013. ALL RIGHTS PROTECTED AND RESERVED. 20
Peppers & Rogers Group
Customer strategy consultants
with offices around the world
1to1 Media
Magazines, newsletters,
research white papers
@DonPeppers
www.lnkd.in/donpeppers
See all Don Peppers’ posts on Linked In and follow him at:
To subscribe to the “1to1 Weekly” email
newsletter: [email protected]
SOCIALMEDIA.ORG/SUMMIT2013ORLANDO
Learn more about past andupcoming events
DECEMBER 9–11, 2013
SOCIALMEDIA.ORG/EVENTS