Marketing
with DOUG MACMILLAN
Doug MacMillan is president of The Letter M Marketing in Guelph, Ont. To reach him, email doug@letterm.ca.
What ruins trust? Three simple things A Trust is currency Way, way back in March, as we were all adjusting to a new reality, I sat in on a workshop for small consulting practices like mine. The most compelling takeaway was one simple seven-word sentence:
“Trust is the only currency right now.” We were reminded to lean into our customers, do whatever it takes to support them, and worry about all the little things (like if we would be paid) later. I appreciate that is easier for a consultant than an HVAC contractor or PEX manufacturer, but the concept stands for everyone: Trust is currency.
number of consumer surveys point to a post-COVID world where trust is no longer just a “soft asset” for a brand. It’s an asset as tangible and essential as, well, currency. We work hard to earn it, and it can be lost in an instant. What erodes it? There are the obvious answers: dishonesty, shoddy work, price gouging, but there is more to it today. Three keys to avoid are self-interest, disinterest and failing to have a visible leader with an ability to connect with your customers. I’d love to hear from readers about how your business built and maintained trust with customers this year and will share your stories in future columns.
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Self-interest
Unexpected, perhaps. Isn’t part of being in business about having selfinterest? Our drive for profit, growth and reputation are all about self-interest, no? These are not bad things, even when it comes to trust, but we need to tick a few other boxes first. We need to take care of our employees, our employers, support our community and provide exceptional customer care.
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Disinterest
Over the past few months, many ads either started with one of the paraphrased versions of, “In these uncertain times…” and seemed disingenuous; or, presented business as usual promotions and came off as tone-deaf. It took advertisers a while to find their voice. How can a businesss show empathy? Small gestures work, and the community has a way of talking about these efforts.
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No human face Galen Weston Jr. will likely be a textbook example of how to lead in a crisis with a gentle hand.
Going forward, I anticipate a surge in putting the people who are behind the brand in front of customers: in advertising, social media content and community volunteering roles. The market will crave it and customers will have more trust in the companies that get it right.
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