Once upon a time, companies had control over their image...

June 15, 2014, Torben Rick

Once upon a time, companies had complete control over their image and branding. By pouring money into advertising, they could effectively steer and control the perceptions of consumers.

Unfortunately for companies – and fortunately for consumers - the information revolution transferred this power squarely into the hands of consumers.

Armed with this newfound power, customers found themselves with an edge over salespeople. The principle of the marketplace hence transitioned from caveat emptor to caveat venditor – that is, from “Let the buyer beware” to “Let the seller beware”.

Historically, buyers have always been on the losing end due to a lack of information or expertise on products or services. With reviews, ratings and online portals readily available on the Internet today, sellers are now the ones who have to be careful.

But this is not the only change that is sweeping the market place. The high degree of customer loyalty which was normal in the “good old days” is now just a pleasant memory of times gone by.


Top 9 customer focus areas for the journey towards “The Trusted Company”:

- Share your knowledge
- Make the experience great
- Know the customer
- Make it easy and convenient
- Make them feel valued
- Engage with the customers
- Do it right first time
- Surprise
- Ask them for advice

Organizations should explicitly ask themselves: what is our place in our customers’ lives? What is our relevance to their lives? The answers to these questions provide the basis for devising a new method of approaching customers.

The time has come to work with trust as an integrated part of business strategy.

Good luck with the journey!

https://www.linkedin.com/today/post/article/20140615052330-955997-once-upon-a-time-companies-had-complete-control-over-their-image-and-branding?trk=object-title