SlideShare a Scribd company logo
WHAT DRIVES TRUST IN ONE
BRAND, DOESN'T DO ANYTHING
FOR THE OTHER
This publication and all its contents are copyright mext 2016
PROACTIVE STUDY INTO CUSTOMER
TRUST AND LOYALTY IN TELCOS AND
HEALTH FUNDS.
November 2016
2
Having worked globally with telecommunications and health-related companies, as well as government
organisations in insight, brand, experience and sales & service training, we conducted a small-scale
proactive study with 300 telco customers and non-customers in november 1016.
We explore trust in telstra, vodafone and optus, and what drives their trust best.
We look at a number of health funds to examine their levels of trust and loyalty, as well as what drives
them.
These study findings are to be used to understand the principles, impact and operationalisation of trust – and as
a good indication and hypothesis only
Additionally, in this study, we looked into customer perception of efficient delivery and the impact
of issues concerning trust and loyalty.
UNDERSTANDING TRUST
TRUST DRIVES 85% OF YOUR NPS
AND 75% OF YOUR CUSTOMER LOYALTY.
3
CONTENT
Executive summary
The effect of trust on organisational
performance and KPIs
How trust works – the science of
trust
Telecommunicaton
Telstra & competitor HuTrust®
Equity Analysis
- what telcos are trusted for, and
how strongly	
Telstra’s trust is driven differently
from competitors – HuTrust® Driver
Analysis
The attributes that drive Telstra
trust are surprising – HuTrust®
Attribute Analysis
How to operationalise ‘trust’
Health insurance
Average loyalty and trust scores
HuTrust® Profile
- what PHIs are trusted for, and
how strongly
HuTrust® Driver Analysis
4
5
7
9
15
17
20
23
26
28
8
21
4
EXECUTIVE SUMMARY
Performance is a question of trust
Trust is not the same for each brand
{
Trust – the robust kind
PWC calls trust the ‘forgotten asset’. They urge you to view trust
not as an insurance, but as your greatest growth opportunity, and
advise boards and managements to adopt a trust strategy.
Ours and others’ international studies show that trust drives the vast
majority of all organisational KPIs, the top and bottom line.
For 14 years we have specialised in the psychology of trust and
developed robust frameworks to analyse, build and track trust to
help organisations improve their performance, both internally and
externally.
Every little bit of trust, added or
lost, makes a huge impact on
sales, loyalty and advocacy
Competence and Benefit trust drive well over
1/3 of Telstra’s total trust.
Competence trust is driven by your network
quality and understanding of your long-term in-
vestment, such as e-health.
Your benefit trust, by a big margin, is driven by
Telstra’s foresight in its CEO succession.
Optus’ and Vodafone’s trust are driven by total-
ly different trust dimensions.
Trust is about ‘what you can and want to trust for’; In the 3 telcos
reviewed, it is totally different from one brand to the other. To
effectively build trust, one needs to know ‘what trust’ to build.
What drives trust for particular health insurers is very different from
one company to the next.
Our approach, HuTrust®, is a practical, robust and scientifically
proven methodology that analyses and builds trust through all
functions.
5
TRUST DRIVES THE VAST MAJORITY OF
YOUR KPIs
Trust is the root cause of
your customer’s attitudes and
behaviours.
If trust is the key driver, can you
improve your kpis effectively,
without understanding it?
6
TRUST:
EVERY LITTLE BIT COUNTS
Investor behaviour
Every little bit of trust, added or
lost, makes a huge impact on
acquistion and retention.
Just 20% more trust with a
customer results in an improved
attitude and behaviour by 400%
People behaviour
Customer behaviour
7
Working with psychologists and
psychology professor w. Salber in
2003, we found that trust consists
of 6 distinct categories.
These 6 categories of trust drive
over 86% of trust – which, in
statistical terms, is pretty much
all of it.
The 6 categories of trust in the
HuTrust® model are also proven
to drive the vast majority of all
key customer attitudes and
behaviours.
The 6 HuTrust® dimensions are proven to be the
drivers of trust and thus your other KPIs.
HUTRUST®
: THE SCIENTIFICALLY SOUND
AND PRACTICALLY PROVEN WAY TO
MEASURE AND BUILD TRUST
HuTrust® makes trust, the key
driver of attitudes and behaviours
towards you, workable.
The program encompasses
measurement, trust driver
development and training,
and workshop programs that
empower your teams to build
more and more trust in all
functions.
8
UNDERSTANDING TRUST
TRUST &
LOYALTY IN
TELCOS
These study findings are to be used to understand the principles, impact and operationalisation of trust – but
only as a good indication and hypothesis
9
HUTRUST®
EQUITY ANALYSIS
In this study, telstra’s and optus’
customer trust sits at just below the
trust threshold.
From our other studies, we would
expect this to be a bit higher in
your own studies.
Total sample = 300
Q: I am loyal to this brand // I trust this brand
YOU ARE HERE
10
LOYALTY & TRUST DISTRIBUTION –
TELCO PROVIDER
Other telcos we worked with
achieved up to 25% of customers
giving them a 10/10 on trust.
Total sample = 300
Q: I am loyal to this brand // I trust this brand
I am loyal to this brand
I trust this brand
These customers would be a prime opportunity
to shift into 9/10 or 10/10. That’s not done by
eliminating pain points and more ‘getting what I
want when I want’.
11
‘Why didn’t we do this years ago?’
Global Managing Partner, Legal Firm
WHAT YOUR TRUST IS MADE OF…
12
HUTRUST®
EQUITY ANALYSIS
The HuTrust® equity analysis
shows how strongly you and your
competitors are trusted in each of
the 6 trust categories.
This is what enables
organisations to do something
about trust.
Telstra’s own customers appear to
trust Telstra less in Relationship,
Benefit, Competence and Vision
trust than the customers of the
other telcos.
Total sample = 300
Customers
Telstra
Optus
Vodafone
13
HUTRUST®
EQUITY ANALYSIS
As expected, non-customers
score each company far lower
than their own provider.
Amongst non-customers, Optus
and Telstra are equally trusted
for their stability and future
development (although, both only
at a trust neutral level).
Optus leads Telstra significantly in
all other trust categories.
After losing a lot of trust, Vodafone
still has a long way to go.
Total sample = 300
Non customers
Telstra
Optus
Vodafone
14
WHAT DRIVES YOUR TRUST
15
HUTRUST®
DRIVER
ANALYSIS – OWN CUSTOMERS
The HuTrust® driver analysis shows
which of the 6 trust categories are
most important for customers to
trust the brand.
For Telstra, the most important
trust drivers are totally different
from those of Optus and Vodafone.
Benefit trust – this brand is valuable
to me in my life – is by far the most
important for Telstra customers to
trust. It is also the most important
in regard to their loyalty.
For Telstra to build more trust,
improve their NPS, customer
experience and loyalty, a particular
emphasis needs to be placed on
building benefit trust.
We are cognisant that this study is
only a proactive, small scale study.
The research would have to be
done with the different segments
qualitatively and quantitatively
to reveal more trust drivers and
inhibitors, and to model them.
Non customers
Total sample = 300
Telstra
Optus
Vodafone
The driver analysis shows the over/
under index of each trust dimension
versustheaverageofthe6dimensions.
16
HUTRUST®
DRIVER ANALYSIS –
OWN CUSTOMERS
Here, we also checked what drives
customer loyalty, as it is telstra’s key
focus.
Benefit trust shows to be even
more important to loyalty than it
is for trust.
Customer retention is obviously
critical. Loyalty means higher
lifetime value, higher degree
of product holding, less price
sensitivity and lower cost to serve.
For Optus, it becomes clear that
development trust is key.
For Vodafone it is stability,
development and relationship
trust.
Customer loyalty drivers
Telstra
Optus
Vodafone
Total sample = 300
17
WHAT FILLS YOUR KEY TRUST BUCKETS BEST
HUTRUST®
ATTRIBUTE ANALYSIS –
OWN CUSTOMERS
‘It’s not training.
It’s not a lecture.
It’s playing to learn how to play better.’
Senior executive participant
18
HUTRUST®
ATTRIBUTE ANALYSIS –
TELSTRA’S OWN CUSTOMERS
THE HUTRUST
ATTRIBUTE ANALYSIS
TELLS YOU HOW
TO BEST BUILD THE
FOCUS TRUST.
We are happy to discuss the full set.
We included 61 attribute statements.
These were split into:
— Business-generic attributes—attributes that relate to an organisation
being well run.
— Category-generic attributes—attributes that relate to category product
and service factors
— Brand attributes—attributes and values that are brand unique, or could be
(in this study we included a number of attributes we know from our qualitative
research. It is not a list of your internally agreed values and attributes.
In addition, they broadly covered all 6 HuTrust® categories.
Business-generic attributes Category-generic attributes
Brand attributes
Is well managed
The management is stable
They have been around for a long time
They innovate continuously
They think about innovation beyond product and
technology – more about me
I know what they currently do that will benefit me
in the future
They understand how I want to contact them
...
They are one of the largest
They have their own network
They have been around for a long time
I know how they will improve/develop their network
in the future
They proactively let me know what happens with the
NBN
They have access to the best brands and products
They think beyond TELCO, including watches and
virtual reality
...
After the government sell-off, Telstra has shown long-term foresight in their choice and smooth transition of management
teams and styles by first using an outsider to shake the organisation up, then making the hard and big decisions
regarding the network and technology. Further, by using David Thodey to lead a customer-focused change in culture
and now Andy Penn, who worked with David as CFO, to continue that path and lay out a clear succession plan.
Telstra were founded to look after our telecommunication needs. And though now privatised, they still regard this foundation
as important.
Telstra understand how telecommunications can change our lives and, therefore, invest into the future with telehealth and
education.
At Telstra all staff, including IT and finance, regularly have to spend time with customers or join the call centre to ensure they
understand customers and what impacts them. So, you may have their CEO listen to your next call and view your next chat.
Telstra has a clear, long-term investment plan, continuing to offer their customers the best option in telecommunications.
...
19
HUTRUST®
ATTRIBUTE ANALYSIS –
OWN CUSTOMERS
For telstra to improve customer
trust and loyalty, with a benefit
trust focus, we identified 3 key
attributes.
All 3 of these are unique to Telstra,
providing Telstra with a unique
opportunity to build trust and
loyalty. Business- generic and
category-generic attributes were
found NOT to be significant.
Interestingly, out of the 3 key
attributes to drive benefit trust
and loyalty, the ‘Telstra board’s
foresight in appointing Sol
Trujillo as an outsider to make
controversial, significant
structural and technological
changes (and) David Thodey to
seize on them with customer
focus and culture, and now
Andy Penn as an astute
manager with financial focus’,
drives benefit trust the most.
Currently most customers would
see the Trujillo appointment as a
distrust driver.
The other benefit trust drivers are
either well-known or functional
attributes.
However, the ‘foresight’ attribute,
as a strong driving force of trust,
shows that trust needs to be
looked at differently.
We would also suspect (although
not tested here) that this attribute
would drive the NPS considerably.
This is not to say that other attributes don’t contribute. We have identified a number of others that drive the other
trust dimensions. But, the emergence of the ‘foresight in appointing….’ attribute shows that a different perspective
reveals ample opportunity for Telstra to drive customer experience, NPS and loyalty.
Brand attributes
Foresight with appointment of Trujillo, Thodey, Penn
The best network
38%
33%
19%
10%Australia focused
New ideas like turning phone booths into hot spots
20
HUTRUST®
ATTRIBUTE
OPERATIONALISATION
The attributes identified can be
implemented through the best
suited channels.
The attribute most
effective in improving
customer trust and
loyalty is also the
easiest and least cost
and time intensive to
implement.
In our work, we
continuously find our
clients don’t make
effective use of their
existing trust equity
in channels like
marketing, sales and
service.
Trust and
Loyalty driver
Status Action Best channels
Foresight with
appointment of
Trujillo, Thodey,
Penn…..
Unknown, in fact,
currently negatively
perceived.
The best network Well known.
Reminding from
time to time.
Possibly with
localised info.
New ideas, like
turning phone
booths into hot
spots
Well known, but
remind and look at
fresh, often small,
ideas to introduce.
Australia focused Customers are
not sure about
this. Even the SEA
investment doesn’t
take this away.
Investment into e-
health, etc., would
support this further.
FOR ILLUSTRATION ONLY
21
UNDERSTANDING TRUST
TRUST &
LOYALTY
IN HEALTH
FUNDS
These study findings are to be used to understand the principles, impact and operationalisation of trust – but
only as a good indication and hypothesis.
22
EXECUTIVE SUMMARY
Trust and Loyalty.
Navy Health garners the
highest level of loyalty with
28% of customers scoring
them 10/10.
For others, the loyalty levels are
far lower.
Medibank’s stability trust is
clearly impacted by recent
issues.
But, customers’ trust in
Medibank to successfully develop
is equal to other providers,
indicating a trust in Medibank to
overcome the issues.
Customers give their providers
the same scores on trust.
This is not surprising, because
the more we trust, the more
loyal we become.
Knowing what drives trust
the strongest in one’s brand
enables us to focus on and
explore how to best build or
rebuild it.
In Private Health Insurance,
this can be done in a unique
and differentiated manner.
What drives trust in each
brand is very different.
23
LOYALTY & TRUST SCORES
Total sample = 300
Q: I am loyal to this brand // I trust this brand
Medibank, bupa and navy
health trust sit just above the
trust threshold in the “low trust”
category. Gmhba on average sits
below the others in “neutral trust”.
Loyalty scores for each company
are in line with their trust scores.
I trust this brand
I am loyal to this brand
24
LOYALTY DISTRIBUTION
In this study, navy health garners
an impressive 28% of 10/10 in
loyalty.
Overall loyalty is not high.
Total sample = 300
Q: I am loyal to this brand // I trust this brand
I am loyal to this brand
25
The trust distribution shows the
high level of correlation.
This is not surprising. The more we
trust someone, the more loyal we
are.
Total sample = 300
Q: I am loyal to this brand // I trust this brand
I trust this brand
LOYALTY & TRUST DISTRIBUTION – HEALTH
PROVIDER
26
HUTRUST®
PROFILE – HEALTH PROVIDER
The privatisation and recent issues
have had a significant impact on
what medibank is trusted for.
All but development trust are
affected, indicating that customers
trust medibank to overcome the
issues.
Navy health score consistently high
in all HuTrust® dimensions – but
specifically in competence trust.
Total sample = 300
Q: Please tell us your level of agreement to the following statements....HuTrust®
Medibank
GMHBA
Bupa
Navy Health
Customers
27
Interestingly, non-customers
score all other providers at
almost identical levels.
They score other providers very low
on trust – a benefit to the particular
provider – and, on average, they
don’t trust other providers.
Total sample = 300
Q: Please tell us your level of agreement to the following statements....HuTrust®
LOYALTY & TRUST DISTRIBUTION – HEALTH
PROVIDER
Non customers
Medibank
Bupa
GMHBA
Navy Health
28
CUSTOMER HUTRUST®
DRIVER –
HEALTH PROVIDER
What drives trust in each provid-
er differs significantly, providing a
clear focus for effective and differ-
entiated trust building.
It shows also that while medibank’s
stability trust is diminished, it is not
the driver to focus on.
Total sample =300
Q: Please tell us your level of agreement to the following statements....HuTrust®
Medibank
Bupa
GMHBA
Navy Health
Customer trust drivers
29
The loyalty driver analysis polaris-
es this further. For medibank, the
focus needs to be on rebuilding
competence trust.
Total sample =300
Q: Please tell us your level of agreement to the following statements....HuTrust®
Customer loyalty drivers
Medibank
Bupa
GMHBA
Navy Health
CUSTOMER HUTRUST®
DRIVER –
HEALTH PROVIDER
Grow with
vision, precision
& certainty®

More Related Content

Viewers also liked

Mother food
Mother foodMother food
Mother food
fabiosteccanella
 
Safety Factor: sicurezza in rete e uso dei social network
Safety Factor: sicurezza in rete e uso dei social networkSafety Factor: sicurezza in rete e uso dei social network
Safety Factor: sicurezza in rete e uso dei social network
FattoreMamma Srl
 
Treatment Note - Johnson's Baby Laundry Detergent
Treatment Note - Johnson's Baby Laundry DetergentTreatment Note - Johnson's Baby Laundry Detergent
Treatment Note - Johnson's Baby Laundry Detergent
Ruchi Joshi
 
FattoreMamma - Events Reloaded
FattoreMamma - Events ReloadedFattoreMamma - Events Reloaded
FattoreMamma - Events Reloaded
FattoreMamma Srl
 
FattoreMamma profile 07-2015
FattoreMamma profile 07-2015FattoreMamma profile 07-2015
FattoreMamma profile 07-2015
FattoreMamma Srl
 
GraphConnect Europe 2016 - Building Consumer Trust through Transparency, Comp...
GraphConnect Europe 2016 - Building Consumer Trust through Transparency, Comp...GraphConnect Europe 2016 - Building Consumer Trust through Transparency, Comp...
GraphConnect Europe 2016 - Building Consumer Trust through Transparency, Comp...
Neo4j
 
FattoreMamma Network - Mediakit - 06-2015
FattoreMamma Network - Mediakit - 06-2015FattoreMamma Network - Mediakit - 06-2015
FattoreMamma Network - Mediakit - 06-2015
FattoreMamma Srl
 
Rapporto di ricerca mamme di talento - 18 aprile 2013
Rapporto di ricerca   mamme di talento - 18 aprile 2013Rapporto di ricerca   mamme di talento - 18 aprile 2013
Rapporto di ricerca mamme di talento - 18 aprile 2013
FattoreMamma Srl
 
WHAT’S ON THE MENU IN 2017: Global Food and Beverage Trends
WHAT’S ON THE MENU IN 2017: Global Food and Beverage TrendsWHAT’S ON THE MENU IN 2017: Global Food and Beverage Trends
WHAT’S ON THE MENU IN 2017: Global Food and Beverage Trends
Edelman
 
Wordcamp 2010 - Intervento di Jolanda Restano
Wordcamp 2010 - Intervento di Jolanda RestanoWordcamp 2010 - Intervento di Jolanda Restano
Wordcamp 2010 - Intervento di Jolanda Restano
FattoreMamma Srl
 
FattoreMamma - Presentazione
FattoreMamma - PresentazioneFattoreMamma - Presentazione
FattoreMamma - Presentazione
FattoreMamma Srl
 
FattoreMamma - Presentazione
FattoreMamma - PresentazioneFattoreMamma - Presentazione
FattoreMamma - Presentazione
FattoreMamma Srl
 
Marketing2Moms Conference Chicago 2008
Marketing2Moms Conference Chicago 2008Marketing2Moms Conference Chicago 2008
Marketing2Moms Conference Chicago 2008
FattoreMamma Srl
 
2016 Edelman Trust Barometer - Food & Beverage Results
2016 Edelman Trust Barometer - Food & Beverage Results2016 Edelman Trust Barometer - Food & Beverage Results
2016 Edelman Trust Barometer - Food & Beverage Results
Edelman
 
Una nuova relazione con le mamme
Una nuova relazione con le mammeUna nuova relazione con le mamme
Una nuova relazione con le mamme
FattoreMamma Srl
 
#sfidedimamma
#sfidedimamma#sfidedimamma
#sfidedimamma
FattoreMamma Srl
 
Mamme italiane, mamme digitali
Mamme italiane, mamme digitaliMamme italiane, mamme digitali
Mamme italiane, mamme digitali
Milena Marradi
 
Safety Factor: sicurezza in rete e uso dei social network con i nostri ragazzi
Safety Factor: sicurezza in rete e uso dei social network con i nostri ragazziSafety Factor: sicurezza in rete e uso dei social network con i nostri ragazzi
Safety Factor: sicurezza in rete e uso dei social network con i nostri ragazzi
FattoreMamma Srl
 
Veesible fattore mamma_ricerca mamme creative
Veesible fattore mamma_ricerca mamme creativeVeesible fattore mamma_ricerca mamme creative
Veesible fattore mamma_ricerca mamme creative
FattoreMamma Srl
 

Viewers also liked (19)

Mother food
Mother foodMother food
Mother food
 
Safety Factor: sicurezza in rete e uso dei social network
Safety Factor: sicurezza in rete e uso dei social networkSafety Factor: sicurezza in rete e uso dei social network
Safety Factor: sicurezza in rete e uso dei social network
 
Treatment Note - Johnson's Baby Laundry Detergent
Treatment Note - Johnson's Baby Laundry DetergentTreatment Note - Johnson's Baby Laundry Detergent
Treatment Note - Johnson's Baby Laundry Detergent
 
FattoreMamma - Events Reloaded
FattoreMamma - Events ReloadedFattoreMamma - Events Reloaded
FattoreMamma - Events Reloaded
 
FattoreMamma profile 07-2015
FattoreMamma profile 07-2015FattoreMamma profile 07-2015
FattoreMamma profile 07-2015
 
GraphConnect Europe 2016 - Building Consumer Trust through Transparency, Comp...
GraphConnect Europe 2016 - Building Consumer Trust through Transparency, Comp...GraphConnect Europe 2016 - Building Consumer Trust through Transparency, Comp...
GraphConnect Europe 2016 - Building Consumer Trust through Transparency, Comp...
 
FattoreMamma Network - Mediakit - 06-2015
FattoreMamma Network - Mediakit - 06-2015FattoreMamma Network - Mediakit - 06-2015
FattoreMamma Network - Mediakit - 06-2015
 
Rapporto di ricerca mamme di talento - 18 aprile 2013
Rapporto di ricerca   mamme di talento - 18 aprile 2013Rapporto di ricerca   mamme di talento - 18 aprile 2013
Rapporto di ricerca mamme di talento - 18 aprile 2013
 
WHAT’S ON THE MENU IN 2017: Global Food and Beverage Trends
WHAT’S ON THE MENU IN 2017: Global Food and Beverage TrendsWHAT’S ON THE MENU IN 2017: Global Food and Beverage Trends
WHAT’S ON THE MENU IN 2017: Global Food and Beverage Trends
 
Wordcamp 2010 - Intervento di Jolanda Restano
Wordcamp 2010 - Intervento di Jolanda RestanoWordcamp 2010 - Intervento di Jolanda Restano
Wordcamp 2010 - Intervento di Jolanda Restano
 
FattoreMamma - Presentazione
FattoreMamma - PresentazioneFattoreMamma - Presentazione
FattoreMamma - Presentazione
 
FattoreMamma - Presentazione
FattoreMamma - PresentazioneFattoreMamma - Presentazione
FattoreMamma - Presentazione
 
Marketing2Moms Conference Chicago 2008
Marketing2Moms Conference Chicago 2008Marketing2Moms Conference Chicago 2008
Marketing2Moms Conference Chicago 2008
 
2016 Edelman Trust Barometer - Food & Beverage Results
2016 Edelman Trust Barometer - Food & Beverage Results2016 Edelman Trust Barometer - Food & Beverage Results
2016 Edelman Trust Barometer - Food & Beverage Results
 
Una nuova relazione con le mamme
Una nuova relazione con le mammeUna nuova relazione con le mamme
Una nuova relazione con le mamme
 
#sfidedimamma
#sfidedimamma#sfidedimamma
#sfidedimamma
 
Mamme italiane, mamme digitali
Mamme italiane, mamme digitaliMamme italiane, mamme digitali
Mamme italiane, mamme digitali
 
Safety Factor: sicurezza in rete e uso dei social network con i nostri ragazzi
Safety Factor: sicurezza in rete e uso dei social network con i nostri ragazziSafety Factor: sicurezza in rete e uso dei social network con i nostri ragazzi
Safety Factor: sicurezza in rete e uso dei social network con i nostri ragazzi
 
Veesible fattore mamma_ricerca mamme creative
Veesible fattore mamma_ricerca mamme creativeVeesible fattore mamma_ricerca mamme creative
Veesible fattore mamma_ricerca mamme creative
 

Similar to Building customer trust to drive your KPIs

PwC Trust Insight white paper
PwC Trust Insight white paper PwC Trust Insight white paper
PwC Trust Insight white paper
Helen Tuddenham
 
7 Factors For Building Customer Loyalty!
7 Factors For Building Customer Loyalty!7 Factors For Building Customer Loyalty!
7 Factors For Building Customer Loyalty!
jcaspole
 
Five dimensions of_trust
Five dimensions of_trustFive dimensions of_trust
Five dimensions of_trust
360 Experiential Solutions
 
Capacity telus customers_first
Capacity telus  customers_firstCapacity telus  customers_first
Capacity telus customers_first
Dean Reid
 
Building a "maniacal" customer-centric culture
Building a "maniacal" customer-centric cultureBuilding a "maniacal" customer-centric culture
Building a "maniacal" customer-centric culture
Genpact Ltd
 
The MoralDNA of Employee-Owned Companies 2015 Report
The MoralDNA of Employee-Owned Companies 2015 ReportThe MoralDNA of Employee-Owned Companies 2015 Report
The MoralDNA of Employee-Owned Companies 2015 Report
Chartered Management Institute
 
P4 Engagement Model
P4 Engagement ModelP4 Engagement Model
P4 Engagement Model
Cultivate Talent Limited
 
Closing the trust gap: Responsible Business Series
Closing the trust gap: Responsible Business SeriesClosing the trust gap: Responsible Business Series
Closing the trust gap: Responsible Business Series
Jill Riseley
 
Trust: How to Get It, Keep It, Measure It and Regain It
Trust: How to Get It, Keep It, Measure It and Regain It Trust: How to Get It, Keep It, Measure It and Regain It
Trust: How to Get It, Keep It, Measure It and Regain It
Paine Publishing
 
Transformatory introductory presentation repaired
Transformatory introductory presentation     repairedTransformatory introductory presentation     repaired
Transformatory introductory presentation repaired
nareshmehta61
 
Forging a winning culture
Forging a winning cultureForging a winning culture
Forging a winning culture
VALUES & SENSE
 
Digital Health Success Stories (and Failures) Report - Part 2
Digital Health Success Stories (and Failures) Report - Part 2Digital Health Success Stories (and Failures) Report - Part 2
Digital Health Success Stories (and Failures) Report - Part 2
Tom Parsons
 
5 things you should be doing with your content strategy but aren't
5 things you should be doing with your content strategy but aren't5 things you should be doing with your content strategy but aren't
5 things you should be doing with your content strategy but aren't
Gina Om
 
Reconstruyendo la Confianza 2017. Rebuilding trust report 2017
Reconstruyendo la Confianza 2017. Rebuilding trust report 2017Reconstruyendo la Confianza 2017. Rebuilding trust report 2017
Reconstruyendo la Confianza 2017. Rebuilding trust report 2017
Gemma Alcalá
 
Sustainable Leadership
Sustainable LeadershipSustainable Leadership
Sustainable Leadership
MWWPR
 
2012 Australian Employee HuTrust® Survey
2012 Australian Employee HuTrust® Survey2012 Australian Employee HuTrust® Survey
2012 Australian Employee HuTrust® Survey
Who Group
 
Customer Experience Maturity White Paper
Customer Experience Maturity White PaperCustomer Experience Maturity White Paper
Customer Experience Maturity White Paper
Dan Wiersma
 
How to Measure Intangibles
How to Measure IntangiblesHow to Measure Intangibles
How to Measure Intangibles
Colleen Sluiter
 
The Lean Data Field Guide by Acumen
The Lean Data Field Guide by AcumenThe Lean Data Field Guide by Acumen
The Lean Data Field Guide by Acumen
Mobile Surveys Inc.
 
Trust Enabled Supply Networks - whitepaper
Trust Enabled Supply Networks - whitepaperTrust Enabled Supply Networks - whitepaper
Trust Enabled Supply Networks - whitepaper
Alex Todd
 

Similar to Building customer trust to drive your KPIs (20)

PwC Trust Insight white paper
PwC Trust Insight white paper PwC Trust Insight white paper
PwC Trust Insight white paper
 
7 Factors For Building Customer Loyalty!
7 Factors For Building Customer Loyalty!7 Factors For Building Customer Loyalty!
7 Factors For Building Customer Loyalty!
 
Five dimensions of_trust
Five dimensions of_trustFive dimensions of_trust
Five dimensions of_trust
 
Capacity telus customers_first
Capacity telus  customers_firstCapacity telus  customers_first
Capacity telus customers_first
 
Building a "maniacal" customer-centric culture
Building a "maniacal" customer-centric cultureBuilding a "maniacal" customer-centric culture
Building a "maniacal" customer-centric culture
 
The MoralDNA of Employee-Owned Companies 2015 Report
The MoralDNA of Employee-Owned Companies 2015 ReportThe MoralDNA of Employee-Owned Companies 2015 Report
The MoralDNA of Employee-Owned Companies 2015 Report
 
P4 Engagement Model
P4 Engagement ModelP4 Engagement Model
P4 Engagement Model
 
Closing the trust gap: Responsible Business Series
Closing the trust gap: Responsible Business SeriesClosing the trust gap: Responsible Business Series
Closing the trust gap: Responsible Business Series
 
Trust: How to Get It, Keep It, Measure It and Regain It
Trust: How to Get It, Keep It, Measure It and Regain It Trust: How to Get It, Keep It, Measure It and Regain It
Trust: How to Get It, Keep It, Measure It and Regain It
 
Transformatory introductory presentation repaired
Transformatory introductory presentation     repairedTransformatory introductory presentation     repaired
Transformatory introductory presentation repaired
 
Forging a winning culture
Forging a winning cultureForging a winning culture
Forging a winning culture
 
Digital Health Success Stories (and Failures) Report - Part 2
Digital Health Success Stories (and Failures) Report - Part 2Digital Health Success Stories (and Failures) Report - Part 2
Digital Health Success Stories (and Failures) Report - Part 2
 
5 things you should be doing with your content strategy but aren't
5 things you should be doing with your content strategy but aren't5 things you should be doing with your content strategy but aren't
5 things you should be doing with your content strategy but aren't
 
Reconstruyendo la Confianza 2017. Rebuilding trust report 2017
Reconstruyendo la Confianza 2017. Rebuilding trust report 2017Reconstruyendo la Confianza 2017. Rebuilding trust report 2017
Reconstruyendo la Confianza 2017. Rebuilding trust report 2017
 
Sustainable Leadership
Sustainable LeadershipSustainable Leadership
Sustainable Leadership
 
2012 Australian Employee HuTrust® Survey
2012 Australian Employee HuTrust® Survey2012 Australian Employee HuTrust® Survey
2012 Australian Employee HuTrust® Survey
 
Customer Experience Maturity White Paper
Customer Experience Maturity White PaperCustomer Experience Maturity White Paper
Customer Experience Maturity White Paper
 
How to Measure Intangibles
How to Measure IntangiblesHow to Measure Intangibles
How to Measure Intangibles
 
The Lean Data Field Guide by Acumen
The Lean Data Field Guide by AcumenThe Lean Data Field Guide by Acumen
The Lean Data Field Guide by Acumen
 
Trust Enabled Supply Networks - whitepaper
Trust Enabled Supply Networks - whitepaperTrust Enabled Supply Networks - whitepaper
Trust Enabled Supply Networks - whitepaper
 

More from mext Consulting

First Impressions: Trust trumps Competence
First Impressions: Trust trumps Competence First Impressions: Trust trumps Competence
First Impressions: Trust trumps Competence
mext Consulting
 
Benetas Developes New Customer Experience Model With Mext
Benetas Developes New Customer Experience Model With MextBenetas Developes New Customer Experience Model With Mext
Benetas Developes New Customer Experience Model With Mext
mext Consulting
 
mext_Cultural Diversity Insight Research AMSRS
mext_Cultural Diversity Insight Research AMSRSmext_Cultural Diversity Insight Research AMSRS
mext_Cultural Diversity Insight Research AMSRS
mext Consulting
 
Needs Based Segmentation - A different perspective
Needs Based Segmentation - A different perspectiveNeeds Based Segmentation - A different perspective
Needs Based Segmentation - A different perspective
mext Consulting
 
Building client trust
Building client trustBuilding client trust
Building client trust
mext Consulting
 
The great value of more Community Trust - How trust impacts community behavio...
The great value of more Community Trust - How trust impacts community behavio...The great value of more Community Trust - How trust impacts community behavio...
The great value of more Community Trust - How trust impacts community behavio...
mext Consulting
 

More from mext Consulting (6)

First Impressions: Trust trumps Competence
First Impressions: Trust trumps Competence First Impressions: Trust trumps Competence
First Impressions: Trust trumps Competence
 
Benetas Developes New Customer Experience Model With Mext
Benetas Developes New Customer Experience Model With MextBenetas Developes New Customer Experience Model With Mext
Benetas Developes New Customer Experience Model With Mext
 
mext_Cultural Diversity Insight Research AMSRS
mext_Cultural Diversity Insight Research AMSRSmext_Cultural Diversity Insight Research AMSRS
mext_Cultural Diversity Insight Research AMSRS
 
Needs Based Segmentation - A different perspective
Needs Based Segmentation - A different perspectiveNeeds Based Segmentation - A different perspective
Needs Based Segmentation - A different perspective
 
Building client trust
Building client trustBuilding client trust
Building client trust
 
The great value of more Community Trust - How trust impacts community behavio...
The great value of more Community Trust - How trust impacts community behavio...The great value of more Community Trust - How trust impacts community behavio...
The great value of more Community Trust - How trust impacts community behavio...
 

Recently uploaded

Mandated reporting powerpoint to help with understanding your role
Mandated reporting powerpoint to help with understanding your roleMandated reporting powerpoint to help with understanding your role
Mandated reporting powerpoint to help with understanding your role
khidalgo2
 
Best Practices in Negotiation for Business Management Students
Best Practices in Negotiation for Business Management StudentsBest Practices in Negotiation for Business Management Students
Best Practices in Negotiation for Business Management Students
zoyaws1
 
Green Minimalist Aesthetic Project Proposal Presentation.pdf
Green Minimalist Aesthetic Project Proposal Presentation.pdfGreen Minimalist Aesthetic Project Proposal Presentation.pdf
Green Minimalist Aesthetic Project Proposal Presentation.pdf
shivamkush646
 
WAM Corporate Presentation July 2024.pdf
WAM Corporate Presentation July 2024.pdfWAM Corporate Presentation July 2024.pdf
WAM Corporate Presentation July 2024.pdf
Western Alaska Minerals Corp.
 
Luxury Lifestyle Summit 2024 - Sponsorship
Luxury Lifestyle Summit 2024 - SponsorshipLuxury Lifestyle Summit 2024 - Sponsorship
Luxury Lifestyle Summit 2024 - Sponsorship
uitdiedosfinance
 
Satta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatkaSatta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatka
➑➌➋➑➒➎➑➑➊➍
 
Connected Small Boat Protection Solution | July 2024
Connected Small Boat Protection Solution | July  2024Connected Small Boat Protection Solution | July  2024
Connected Small Boat Protection Solution | July 2024
Hector Del Castillo, CPM, CPMM
 
Top Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdfTop Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdf
Top IT Marketing
 
Restaurant Chiraz Sindbad Hotel Hammamet
Restaurant Chiraz Sindbad Hotel HammametRestaurant Chiraz Sindbad Hotel Hammamet
Restaurant Chiraz Sindbad Hotel Hammamet
rihabkorbi24
 
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
Newman George Leech
 
BBA Final SML 501 INTERNATIONAL BUSINESS .pdf
BBA Final SML 501 INTERNATIONAL BUSINESS .pdfBBA Final SML 501 INTERNATIONAL BUSINESS .pdf
BBA Final SML 501 INTERNATIONAL BUSINESS .pdf
mcdopex6
 
Girls Call Andheri West 9910780858 Provide Best And Top Girl Service And No1 ...
Girls Call Andheri West 9910780858 Provide Best And Top Girl Service And No1 ...Girls Call Andheri West 9910780858 Provide Best And Top Girl Service And No1 ...
Girls Call Andheri West 9910780858 Provide Best And Top Girl Service And No1 ...
margaretblush
 
STEPIC Innovations 2026 futurism publications
STEPIC Innovations 2026 futurism publicationsSTEPIC Innovations 2026 futurism publications
STEPIC Innovations 2026 futurism publications
mcynthus
 
How to buy a fake Keiser University diploma
How to buy a fake Keiser University diplomaHow to buy a fake Keiser University diploma
How to buy a fake Keiser University diploma
College diploma
 
High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...
High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...
High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...
dimplekumaridk322
 
New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...
New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...
New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...
44annissa
 
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
Aggregage
 
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
emmanuelpulido003
 
foodgasm restaurant and Bar pune road.docx
foodgasm restaurant and Bar pune road.docxfoodgasm restaurant and Bar pune road.docx
foodgasm restaurant and Bar pune road.docx
PraghyaBhandari
 
Business Model Canvas for Successful Business
Business Model Canvas for Successful BusinessBusiness Model Canvas for Successful Business
Business Model Canvas for Successful Business
SuganthiPrakash1
 

Recently uploaded (20)

Mandated reporting powerpoint to help with understanding your role
Mandated reporting powerpoint to help with understanding your roleMandated reporting powerpoint to help with understanding your role
Mandated reporting powerpoint to help with understanding your role
 
Best Practices in Negotiation for Business Management Students
Best Practices in Negotiation for Business Management StudentsBest Practices in Negotiation for Business Management Students
Best Practices in Negotiation for Business Management Students
 
Green Minimalist Aesthetic Project Proposal Presentation.pdf
Green Minimalist Aesthetic Project Proposal Presentation.pdfGreen Minimalist Aesthetic Project Proposal Presentation.pdf
Green Minimalist Aesthetic Project Proposal Presentation.pdf
 
WAM Corporate Presentation July 2024.pdf
WAM Corporate Presentation July 2024.pdfWAM Corporate Presentation July 2024.pdf
WAM Corporate Presentation July 2024.pdf
 
Luxury Lifestyle Summit 2024 - Sponsorship
Luxury Lifestyle Summit 2024 - SponsorshipLuxury Lifestyle Summit 2024 - Sponsorship
Luxury Lifestyle Summit 2024 - Sponsorship
 
Satta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatkaSatta matka guessing Kalyan result sattamatka
Satta matka guessing Kalyan result sattamatka
 
Connected Small Boat Protection Solution | July 2024
Connected Small Boat Protection Solution | July  2024Connected Small Boat Protection Solution | July  2024
Connected Small Boat Protection Solution | July 2024
 
Top Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdfTop Digital Marketing Strategy in 2024.pdf
Top Digital Marketing Strategy in 2024.pdf
 
Restaurant Chiraz Sindbad Hotel Hammamet
Restaurant Chiraz Sindbad Hotel HammametRestaurant Chiraz Sindbad Hotel Hammamet
Restaurant Chiraz Sindbad Hotel Hammamet
 
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
United Kingdom's Real Estate Mogul: Newman George Leech's Impact on the Swiss...
 
BBA Final SML 501 INTERNATIONAL BUSINESS .pdf
BBA Final SML 501 INTERNATIONAL BUSINESS .pdfBBA Final SML 501 INTERNATIONAL BUSINESS .pdf
BBA Final SML 501 INTERNATIONAL BUSINESS .pdf
 
Girls Call Andheri West 9910780858 Provide Best And Top Girl Service And No1 ...
Girls Call Andheri West 9910780858 Provide Best And Top Girl Service And No1 ...Girls Call Andheri West 9910780858 Provide Best And Top Girl Service And No1 ...
Girls Call Andheri West 9910780858 Provide Best And Top Girl Service And No1 ...
 
STEPIC Innovations 2026 futurism publications
STEPIC Innovations 2026 futurism publicationsSTEPIC Innovations 2026 futurism publications
STEPIC Innovations 2026 futurism publications
 
How to buy a fake Keiser University diploma
How to buy a fake Keiser University diplomaHow to buy a fake Keiser University diploma
How to buy a fake Keiser University diploma
 
High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...
High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...
High Profile Girls Call Bhubaneswar 🎈🔥000XX00000 🔥💋🎈 Provide Best And Top Gir...
 
New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...
New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...
New Girls Call Mumbai 9910780858 Provide Best And Top Girl Service And No1 in...
 
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
Don’t Get Left Behind: Leveraging Modern Product Management Across the Organi...
 
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
21stcenturyskillsframeworkfinalpresentation2-240509214747-71edb7ee.pdf
 
foodgasm restaurant and Bar pune road.docx
foodgasm restaurant and Bar pune road.docxfoodgasm restaurant and Bar pune road.docx
foodgasm restaurant and Bar pune road.docx
 
Business Model Canvas for Successful Business
Business Model Canvas for Successful BusinessBusiness Model Canvas for Successful Business
Business Model Canvas for Successful Business
 

Building customer trust to drive your KPIs

  • 1. WHAT DRIVES TRUST IN ONE BRAND, DOESN'T DO ANYTHING FOR THE OTHER This publication and all its contents are copyright mext 2016 PROACTIVE STUDY INTO CUSTOMER TRUST AND LOYALTY IN TELCOS AND HEALTH FUNDS. November 2016
  • 2. 2 Having worked globally with telecommunications and health-related companies, as well as government organisations in insight, brand, experience and sales & service training, we conducted a small-scale proactive study with 300 telco customers and non-customers in november 1016. We explore trust in telstra, vodafone and optus, and what drives their trust best. We look at a number of health funds to examine their levels of trust and loyalty, as well as what drives them. These study findings are to be used to understand the principles, impact and operationalisation of trust – and as a good indication and hypothesis only Additionally, in this study, we looked into customer perception of efficient delivery and the impact of issues concerning trust and loyalty. UNDERSTANDING TRUST TRUST DRIVES 85% OF YOUR NPS AND 75% OF YOUR CUSTOMER LOYALTY.
  • 3. 3 CONTENT Executive summary The effect of trust on organisational performance and KPIs How trust works – the science of trust Telecommunicaton Telstra & competitor HuTrust® Equity Analysis - what telcos are trusted for, and how strongly Telstra’s trust is driven differently from competitors – HuTrust® Driver Analysis The attributes that drive Telstra trust are surprising – HuTrust® Attribute Analysis How to operationalise ‘trust’ Health insurance Average loyalty and trust scores HuTrust® Profile - what PHIs are trusted for, and how strongly HuTrust® Driver Analysis 4 5 7 9 15 17 20 23 26 28 8 21
  • 4. 4 EXECUTIVE SUMMARY Performance is a question of trust Trust is not the same for each brand { Trust – the robust kind PWC calls trust the ‘forgotten asset’. They urge you to view trust not as an insurance, but as your greatest growth opportunity, and advise boards and managements to adopt a trust strategy. Ours and others’ international studies show that trust drives the vast majority of all organisational KPIs, the top and bottom line. For 14 years we have specialised in the psychology of trust and developed robust frameworks to analyse, build and track trust to help organisations improve their performance, both internally and externally. Every little bit of trust, added or lost, makes a huge impact on sales, loyalty and advocacy Competence and Benefit trust drive well over 1/3 of Telstra’s total trust. Competence trust is driven by your network quality and understanding of your long-term in- vestment, such as e-health. Your benefit trust, by a big margin, is driven by Telstra’s foresight in its CEO succession. Optus’ and Vodafone’s trust are driven by total- ly different trust dimensions. Trust is about ‘what you can and want to trust for’; In the 3 telcos reviewed, it is totally different from one brand to the other. To effectively build trust, one needs to know ‘what trust’ to build. What drives trust for particular health insurers is very different from one company to the next. Our approach, HuTrust®, is a practical, robust and scientifically proven methodology that analyses and builds trust through all functions.
  • 5. 5 TRUST DRIVES THE VAST MAJORITY OF YOUR KPIs Trust is the root cause of your customer’s attitudes and behaviours. If trust is the key driver, can you improve your kpis effectively, without understanding it?
  • 6. 6 TRUST: EVERY LITTLE BIT COUNTS Investor behaviour Every little bit of trust, added or lost, makes a huge impact on acquistion and retention. Just 20% more trust with a customer results in an improved attitude and behaviour by 400% People behaviour Customer behaviour
  • 7. 7 Working with psychologists and psychology professor w. Salber in 2003, we found that trust consists of 6 distinct categories. These 6 categories of trust drive over 86% of trust – which, in statistical terms, is pretty much all of it. The 6 categories of trust in the HuTrust® model are also proven to drive the vast majority of all key customer attitudes and behaviours. The 6 HuTrust® dimensions are proven to be the drivers of trust and thus your other KPIs. HUTRUST® : THE SCIENTIFICALLY SOUND AND PRACTICALLY PROVEN WAY TO MEASURE AND BUILD TRUST HuTrust® makes trust, the key driver of attitudes and behaviours towards you, workable. The program encompasses measurement, trust driver development and training, and workshop programs that empower your teams to build more and more trust in all functions.
  • 8. 8 UNDERSTANDING TRUST TRUST & LOYALTY IN TELCOS These study findings are to be used to understand the principles, impact and operationalisation of trust – but only as a good indication and hypothesis
  • 9. 9 HUTRUST® EQUITY ANALYSIS In this study, telstra’s and optus’ customer trust sits at just below the trust threshold. From our other studies, we would expect this to be a bit higher in your own studies. Total sample = 300 Q: I am loyal to this brand // I trust this brand YOU ARE HERE
  • 10. 10 LOYALTY & TRUST DISTRIBUTION – TELCO PROVIDER Other telcos we worked with achieved up to 25% of customers giving them a 10/10 on trust. Total sample = 300 Q: I am loyal to this brand // I trust this brand I am loyal to this brand I trust this brand These customers would be a prime opportunity to shift into 9/10 or 10/10. That’s not done by eliminating pain points and more ‘getting what I want when I want’.
  • 11. 11 ‘Why didn’t we do this years ago?’ Global Managing Partner, Legal Firm WHAT YOUR TRUST IS MADE OF…
  • 12. 12 HUTRUST® EQUITY ANALYSIS The HuTrust® equity analysis shows how strongly you and your competitors are trusted in each of the 6 trust categories. This is what enables organisations to do something about trust. Telstra’s own customers appear to trust Telstra less in Relationship, Benefit, Competence and Vision trust than the customers of the other telcos. Total sample = 300 Customers Telstra Optus Vodafone
  • 13. 13 HUTRUST® EQUITY ANALYSIS As expected, non-customers score each company far lower than their own provider. Amongst non-customers, Optus and Telstra are equally trusted for their stability and future development (although, both only at a trust neutral level). Optus leads Telstra significantly in all other trust categories. After losing a lot of trust, Vodafone still has a long way to go. Total sample = 300 Non customers Telstra Optus Vodafone
  • 15. 15 HUTRUST® DRIVER ANALYSIS – OWN CUSTOMERS The HuTrust® driver analysis shows which of the 6 trust categories are most important for customers to trust the brand. For Telstra, the most important trust drivers are totally different from those of Optus and Vodafone. Benefit trust – this brand is valuable to me in my life – is by far the most important for Telstra customers to trust. It is also the most important in regard to their loyalty. For Telstra to build more trust, improve their NPS, customer experience and loyalty, a particular emphasis needs to be placed on building benefit trust. We are cognisant that this study is only a proactive, small scale study. The research would have to be done with the different segments qualitatively and quantitatively to reveal more trust drivers and inhibitors, and to model them. Non customers Total sample = 300 Telstra Optus Vodafone The driver analysis shows the over/ under index of each trust dimension versustheaverageofthe6dimensions.
  • 16. 16 HUTRUST® DRIVER ANALYSIS – OWN CUSTOMERS Here, we also checked what drives customer loyalty, as it is telstra’s key focus. Benefit trust shows to be even more important to loyalty than it is for trust. Customer retention is obviously critical. Loyalty means higher lifetime value, higher degree of product holding, less price sensitivity and lower cost to serve. For Optus, it becomes clear that development trust is key. For Vodafone it is stability, development and relationship trust. Customer loyalty drivers Telstra Optus Vodafone Total sample = 300
  • 17. 17 WHAT FILLS YOUR KEY TRUST BUCKETS BEST HUTRUST® ATTRIBUTE ANALYSIS – OWN CUSTOMERS ‘It’s not training. It’s not a lecture. It’s playing to learn how to play better.’ Senior executive participant
  • 18. 18 HUTRUST® ATTRIBUTE ANALYSIS – TELSTRA’S OWN CUSTOMERS THE HUTRUST ATTRIBUTE ANALYSIS TELLS YOU HOW TO BEST BUILD THE FOCUS TRUST. We are happy to discuss the full set. We included 61 attribute statements. These were split into: — Business-generic attributes—attributes that relate to an organisation being well run. — Category-generic attributes—attributes that relate to category product and service factors — Brand attributes—attributes and values that are brand unique, or could be (in this study we included a number of attributes we know from our qualitative research. It is not a list of your internally agreed values and attributes. In addition, they broadly covered all 6 HuTrust® categories. Business-generic attributes Category-generic attributes Brand attributes Is well managed The management is stable They have been around for a long time They innovate continuously They think about innovation beyond product and technology – more about me I know what they currently do that will benefit me in the future They understand how I want to contact them ... They are one of the largest They have their own network They have been around for a long time I know how they will improve/develop their network in the future They proactively let me know what happens with the NBN They have access to the best brands and products They think beyond TELCO, including watches and virtual reality ... After the government sell-off, Telstra has shown long-term foresight in their choice and smooth transition of management teams and styles by first using an outsider to shake the organisation up, then making the hard and big decisions regarding the network and technology. Further, by using David Thodey to lead a customer-focused change in culture and now Andy Penn, who worked with David as CFO, to continue that path and lay out a clear succession plan. Telstra were founded to look after our telecommunication needs. And though now privatised, they still regard this foundation as important. Telstra understand how telecommunications can change our lives and, therefore, invest into the future with telehealth and education. At Telstra all staff, including IT and finance, regularly have to spend time with customers or join the call centre to ensure they understand customers and what impacts them. So, you may have their CEO listen to your next call and view your next chat. Telstra has a clear, long-term investment plan, continuing to offer their customers the best option in telecommunications. ...
  • 19. 19 HUTRUST® ATTRIBUTE ANALYSIS – OWN CUSTOMERS For telstra to improve customer trust and loyalty, with a benefit trust focus, we identified 3 key attributes. All 3 of these are unique to Telstra, providing Telstra with a unique opportunity to build trust and loyalty. Business- generic and category-generic attributes were found NOT to be significant. Interestingly, out of the 3 key attributes to drive benefit trust and loyalty, the ‘Telstra board’s foresight in appointing Sol Trujillo as an outsider to make controversial, significant structural and technological changes (and) David Thodey to seize on them with customer focus and culture, and now Andy Penn as an astute manager with financial focus’, drives benefit trust the most. Currently most customers would see the Trujillo appointment as a distrust driver. The other benefit trust drivers are either well-known or functional attributes. However, the ‘foresight’ attribute, as a strong driving force of trust, shows that trust needs to be looked at differently. We would also suspect (although not tested here) that this attribute would drive the NPS considerably. This is not to say that other attributes don’t contribute. We have identified a number of others that drive the other trust dimensions. But, the emergence of the ‘foresight in appointing….’ attribute shows that a different perspective reveals ample opportunity for Telstra to drive customer experience, NPS and loyalty. Brand attributes Foresight with appointment of Trujillo, Thodey, Penn The best network 38% 33% 19% 10%Australia focused New ideas like turning phone booths into hot spots
  • 20. 20 HUTRUST® ATTRIBUTE OPERATIONALISATION The attributes identified can be implemented through the best suited channels. The attribute most effective in improving customer trust and loyalty is also the easiest and least cost and time intensive to implement. In our work, we continuously find our clients don’t make effective use of their existing trust equity in channels like marketing, sales and service. Trust and Loyalty driver Status Action Best channels Foresight with appointment of Trujillo, Thodey, Penn….. Unknown, in fact, currently negatively perceived. The best network Well known. Reminding from time to time. Possibly with localised info. New ideas, like turning phone booths into hot spots Well known, but remind and look at fresh, often small, ideas to introduce. Australia focused Customers are not sure about this. Even the SEA investment doesn’t take this away. Investment into e- health, etc., would support this further. FOR ILLUSTRATION ONLY
  • 21. 21 UNDERSTANDING TRUST TRUST & LOYALTY IN HEALTH FUNDS These study findings are to be used to understand the principles, impact and operationalisation of trust – but only as a good indication and hypothesis.
  • 22. 22 EXECUTIVE SUMMARY Trust and Loyalty. Navy Health garners the highest level of loyalty with 28% of customers scoring them 10/10. For others, the loyalty levels are far lower. Medibank’s stability trust is clearly impacted by recent issues. But, customers’ trust in Medibank to successfully develop is equal to other providers, indicating a trust in Medibank to overcome the issues. Customers give their providers the same scores on trust. This is not surprising, because the more we trust, the more loyal we become. Knowing what drives trust the strongest in one’s brand enables us to focus on and explore how to best build or rebuild it. In Private Health Insurance, this can be done in a unique and differentiated manner. What drives trust in each brand is very different.
  • 23. 23 LOYALTY & TRUST SCORES Total sample = 300 Q: I am loyal to this brand // I trust this brand Medibank, bupa and navy health trust sit just above the trust threshold in the “low trust” category. Gmhba on average sits below the others in “neutral trust”. Loyalty scores for each company are in line with their trust scores. I trust this brand I am loyal to this brand
  • 24. 24 LOYALTY DISTRIBUTION In this study, navy health garners an impressive 28% of 10/10 in loyalty. Overall loyalty is not high. Total sample = 300 Q: I am loyal to this brand // I trust this brand I am loyal to this brand
  • 25. 25 The trust distribution shows the high level of correlation. This is not surprising. The more we trust someone, the more loyal we are. Total sample = 300 Q: I am loyal to this brand // I trust this brand I trust this brand LOYALTY & TRUST DISTRIBUTION – HEALTH PROVIDER
  • 26. 26 HUTRUST® PROFILE – HEALTH PROVIDER The privatisation and recent issues have had a significant impact on what medibank is trusted for. All but development trust are affected, indicating that customers trust medibank to overcome the issues. Navy health score consistently high in all HuTrust® dimensions – but specifically in competence trust. Total sample = 300 Q: Please tell us your level of agreement to the following statements....HuTrust® Medibank GMHBA Bupa Navy Health Customers
  • 27. 27 Interestingly, non-customers score all other providers at almost identical levels. They score other providers very low on trust – a benefit to the particular provider – and, on average, they don’t trust other providers. Total sample = 300 Q: Please tell us your level of agreement to the following statements....HuTrust® LOYALTY & TRUST DISTRIBUTION – HEALTH PROVIDER Non customers Medibank Bupa GMHBA Navy Health
  • 28. 28 CUSTOMER HUTRUST® DRIVER – HEALTH PROVIDER What drives trust in each provid- er differs significantly, providing a clear focus for effective and differ- entiated trust building. It shows also that while medibank’s stability trust is diminished, it is not the driver to focus on. Total sample =300 Q: Please tell us your level of agreement to the following statements....HuTrust® Medibank Bupa GMHBA Navy Health Customer trust drivers
  • 29. 29 The loyalty driver analysis polaris- es this further. For medibank, the focus needs to be on rebuilding competence trust. Total sample =300 Q: Please tell us your level of agreement to the following statements....HuTrust® Customer loyalty drivers Medibank Bupa GMHBA Navy Health CUSTOMER HUTRUST® DRIVER – HEALTH PROVIDER

Editor's Notes

  1. Do you need the red rule that spans the graphic at left?
  2. To the far right, “Vodafone” needs to be hyphenated or fitted fully. I could not access those two text blocks.
  3. I realize that UK grammar and US grammar differ on this, but just a note to be dealt with at your own discretion regarding the final lines in the far right text block: “. . . Vodafone still have a long way to go.” In US I would use the singular, “has.”
  4. Note: Fill in the “x” variable in the lead paragraph at left.
  5. “Neither agree or disagree 5” is superimposed over 4 and 6. Needs lowering from the graphic.
  6. Fill in variable: “X” near top.
  7. Fill in the variable, “X” near the top.
  8. Can’t access text left of graph bars at right, but numbers with four figures or more need commas (ex.: 1,000, 10,000)
  9. “Development” and “Competence” are broken in graph at left.