Rebuild Trust by Engaging Customers
"Consumers are in the driver's seat," Alterian CEO David Eldridge told attendees of Alterian's Engaging Times Summit 2010, "and they want interaction, not interruption."
During his opening remarks Eldridge also revealed several findings from the company's report "Your Brand: At Risk or Ready for Growth," based primarily on a study of about 1,000 consumers. According to the report, he said, customer trust is low and companies need to focus on rebuilding that trust.
Other key findings he noted include:
Nearly 60 percent of consumers feel that companies are primarily interested in selling any product or service to customers rather than selling the product or service that is right for a particular customer. Not surprisingly, only 9 percent trust companies to act in customers' best interest.
About one third of respondents using social media think that companies are genuinely interested in them versus only 16 percent of the overall respondents.
A mere 5 percent trust advertising and only 8 percent trust in what a company says about itself.
Only 17 percent of respondents think that companies take note of their feedback. But 75 percent say that "there would be a positive impact from companies taking more time to find out about their needs," the report states. In fact, more than 80 percent cited an interested in co-creating products and services. Additionally, 82 percent said that participating in the development of a product or service would increase their likelihood to recommend that company.
In this environment, Eldridge said, "marketers need to move from mass broadcast to one-to-one engagement."
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