Trustonomics: Step 3 - The building blocks of trust
Few brands understand the benefits they would gain if they were trusted more. To be honest, most marketers still place short-term sales targets over trust. There are a lot of people who talk about trust, and there’s a lot of theories about what it is, but we want to bring it down to something incredibly simple:
Trust is the value of your promise.
Trust is like a unit of currency, and the value of that unit is related directly to how much you have kept your promises. People gauge how trustworthy you are by how many promises you've made and kept. Conversely when a brand breaks its promises it loses its value.
Keeping your promises it is what builds trust in your brand, and trust in your brand is what gives you value.
Although this sounds super simple, increasing the value of your promises increases the value of your brand. Because a brand is just a promise.