HOW MUCH TRUST EQUITY DO YOU HAVE IN THE BANK?

In our training we ask participants to first convey to us their value proposition. Then we ask them to work as teams and gather all they can think of that drives their customer’s trust - and all they can think of that inhibits their customer’s trust.

The result is typically a list of 6-8 trust driving items and 4-6 trust inhibiting items.

Moreover, when we then ask them to assess if any of these puts them at a hard competitive edge or disadvantage, the consensus is typically that these items don’t do that.

Considering that being trusted is only of significance if you’e the most trusted, this game matters. Considering that a small 20% increase in your customer’s trust can mean a 400% improved buying propensity and likelihood to recommend you, it matters incredibly.

That’s where working with a structural model of trust like HuTrust® is very powerful.

By splitting trust into its six basic components we can now collect all the relevant trust equity in 6 distinct categories, an inspiring and fun exercise that reveals many things most in the room were not aware of.

Further interrogation on a personal, product and brand or organisational level enables groups typically to grow their trust equity more than 10 fold in a matter of hours. The simple bottom line is that customers can’t trust you for the things they don’t know. 

Practising how to use the newfound equity right away is then not much of a problem - increasing trust immediately and overcoming inhibitors, getting return calls much faster and taking less time to convert.