Trust: The Future Of Business

Create ways to reconnect with lost customers

Trust is essential, because of the personal nature of how we interact with firms, and because it is a predictor of advocacy and future business.

Long-lasting, trusted relationships will not be created through a series of trust projects. A set of clearly articulated and continually reinforced values and principles, as well as incentives that motivate and reward the right behaviors, is necessary in order to build customer-centric and trust-driven culture.

In this paper, we look at how you can reconnect with your lost customers, and how this can be hugely positive for your brand, and brand perception.

Did you know:

  • There’s over £4 billion in Experian’s Unclaimed Assets Register
  • Over £1.2 billion has been transferred to the Reclaim Fund
  • Approximately 5% has been reunited with customers

One area where there is particular opportunity is through unclaimed assets. Imagine a place where you are able to give your customer money, without prompt. This act could change the paradigm of trust and help you build a reputation of becoming a trusted advisor who genuinely has their best interests at heart.

It is small acts such as these, of which technology and data is available to support and allow you to do, that will help you build better, trusted relationships. This form of customer value, amongst others, will be key to success in the future as markets become more competitive and consumers become more cautious and regain control; actively managing who they purchase from, manage their money with, and more.

 

*All sources can be found within the paper