Comment by lukas099
2 years ago
Is it even possible for an institution to build trust in the current environment? If not, doesn't it make sense for companies not to prioritize it?
2 years ago
Is it even possible for an institution to build trust in the current environment? If not, doesn't it make sense for companies not to prioritize it?
It is very possible. For example Costco. At one point an executive tried to suggest raising the prices on their $1.50 hotdog and drink, the founder threatened to kill him if he ever suggested something like that again. That's a man who understands trust and what it means and how to lose it.
Plus trust is something that pays long term rewards, all this advertising that companies spend money on is less effective than my neighbor or friend saying "I've got this thing I love it, you should try it.".
It’s absolutely possible, it’s just hard, as all trust is.