Reputation in financial services trust presentation

6/22/2010
1
by Justin Basini
justin@basini.com
07786548395
www.blog.basini.comwww.basini.com
Proprietary and Confidential – all rights reserved © Justin Basini

6/22/2010
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Macro-social trust
Context-dependent
(context specific) trust
A priori generalised trust
Psychosocial feeling
Auditing
Conceptual trust
Pre-conceptual trust
Social cohesion
Machiavellian strategies
In group solidarity
Co-operation
Local communities
Conceptual trust
Primary (taken for granted) trust
Reflective Trust
Conceptual trust
Third parties
Self-confidence / self-doubt
Emotional interdependence
Psychosocial feeling
Basic trust (ontological)
Inner dialogicality
Micro-social trust
Source: Trust and Distrust in Society, Markova, Linell, Gillespie (2008)
Proprietary and Confidential – all rights reserved

6/22/2010
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6/22/2010
Reputation in Financial Services
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A trustsB to do X
(where X carries some risk)

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Buyer trustsSellerto deliver Benefit
(where the Benefit carries some risk)

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Brands matter economically because they reduce transaction costs
Buyer trustsSellerto deliver Benefit

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6/22/2010
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DOCTORS
TEACHERS
POLICE
CIVIL SERVANTS
BUSINESS LEADERS
POLTICIANS
BANKERS
Do you generally trust them? IPSOS MORI UK study 1993 - 2009

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EXAMPLES
CHARACTERISTICS
BONDED TRUST
High critical engagement
Ebb and flow of relationships
Psychologically damaging if broken
High risk, high reward
Marriage
Parent-child
AFFECTIVE TRUST
Most competitive, lots of entities trying to build trust at this level
Most tension because active and constant
Easily changed and modified
Brands
Politicians
Low critical engagement
“Trust & forget”
Implicit trust based on the assumptions of the “way the world works”
Even when challenged repairs
FUNCTIONAL TRUST
Natural World
Infrastructure

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Financial Services brands are trusted to do the FUNCTIONAL ONLY
(but actively distrusted on the AFFECTIVE LEVEL of trust)

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MARKETING FOCUSES ON THE
TRUST BUILDING IS ABOUT MANAGING RISK
BENEFIT
RISK

TRUST
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MISTAKE
CRISIS
CONSPIRACY
INCOMPETENCE

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March 2010
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Most organisations
People
The bit of organisations allowed to say things
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The rest of the organisation is forbidden from talking
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Messages flow side to side
Messages flow top down

March 2010
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Make corporate communications more human and connecting with normal people
People
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Enable your whole organisation to communicate
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March 2010
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For the time being the trust challenge is not solved by differentiation but delivery
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And the landscape of trust leadership will eventually be not about being different but about making a difference
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This presentation will be available on Slideshare.net/justinbasini
& The book “Trust Me” will out in early 2011
Justin Basini
justin@basini.com
07786548395
www.basini.com
www.blog.basini.com
Proprietary and Confidential – all rights reserved © Justin Basini

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Reputation in financial services trust presentation

by Justin Basini on Jun 22, 2010

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Reputation in financial services trust presentation — Webinar Transcript