Play It By Trust: Ethical marketing - can we do it?
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The document discusses the importance of trust in marketing. It argues that trust should be the goal of every company as trustworthiness is profitable. Building trust requires being relevant, keeping promises, listening to customers, and engaging with them in a way that doesn't constantly try to sell. The document also discusses privacy concerns, ethical account management, and building trust online through credibility, reputation, and reducing perceived risks for customers.
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This document discusses the concept of trust as a design material. It provides insights from trust experts on how trust is built through relationships with the unknown and outlines several principles for designing products and services that foster user trust, including transparency, empowering customers, moving slowly from known to unknown experiences, borrowing trust from credible sources, demonstrating competence, and designing for social accountability. Overall, the document argues that trust should be a core consideration in human-computer interaction and provides strategies for building user trust.
Engaging customers online
The document provides guidance on building trusting online relationships with customers. It recommends starting with planning, understanding your customers and business objectives. Key strategies include making the customer experience simple and focused on their needs, empowering customers and building trust through consistency, transparency and ethical practices across all marketing channels. The goal is to attract and retain customers by engaging them in an ongoing dialogue.
Speed of Trust
Establishing a high level of trust will help you win and maintain clients. The economics of trust can save you thousands in operating costs,.
Reputation & Trust -- Impact on the Bottom Line
Reputation is a company's character and what stakeholders really think and feel based on its behaviors, not just its branding. Trust is the most important factor for many stakeholders when choosing companies and is built through consistent actions that meet expectations over time. While some traditional media are still trusted, personal recommendations from similar individuals are highly influential. Companies must communicate openly, accept responsibility, and adhere to strong ethics to develop credibility and earn stakeholders' long-term trust.
Customer Acquisition - Trust as an acquisition tool
The document discusses building trust as a tool for customer acquisition. It emphasizes developing trust through integrated marketing, consistency across channels, keeping promises, and engaging ethically with customers. Customer relationship marketing is highlighted as a tool to understand individual customers and exploit that knowledge to be relevant, personal, and profitable for both parties. Ethics, such as being trustworthy and transparent, are important for building trust in business.
The future of Data Management
The document discusses future trends in data management and customer retention. It predicts that digital technology will allow for more personalized marketing approaches. Customers will have increasing choice and companies must focus on retaining existing customers through trust and relevance. Data collection and use will become more sophisticated, and customers will demand more control over their data and interactions with companies. The future of marketing involves using integrated online and mobile channels to engage customers through choice, control, and timely, relevant communications.
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Customer loyalty is an important asset for businesses operating in competitive markets. It becomes particularly important when switching costs are low for customers. Various studies have calculated the impact of customer relationship management (CRM) programs on customer loyalty, but have not distinguished between different types of loyalty. Many firms have adopted CRM programs and customer loyalty programs to increase sales revenues by raising customer purchase and usage levels.
How to Measure Intangibles
Customer loyalty, reputation, and trust are created through having strong relationships with customers built on understanding their values and providing outstanding customer experiences. Measuring factors like customer satisfaction, trust, and word-of-mouth promotion can help companies improve and outperform competitors. Consistently delivering exceptional customer service and focusing on building trust should be top priorities for any business seeking to develop a strong brand and reputation.
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The document discusses the ethics of e-marketing and explores topics like abuse and control of e-media, what ethics are, the importance of opt-in marketing, gaining competitive advantage through trustworthy practices, and avoiding exploitation. It provides an outline for a talk on these issues and emphasizes gaining customer trust through ethical behavior and privacy protection to lead the industry in standards.
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Play It By Trust: Ethical marketing - can we do it?
- 1. Play It By Trust Ethical marketing - can we do it? Thom Poole
- 8. What is privacy? Is big brother watching? Do we really care?
- 13. Data privacy – noise! Remember this? A linear model of communication (based on Schramm (1995) and Shannon & Weaver (1962) – from Fill (1999))
- 15. Friendship = Trust Friendship = showing or expressing liking, goodwill, or trust Collins English Dictionary. Retrieved 10 July 2003, from xreferplus
- 17. Trust lifecycle Time Level of Trust Unaware Build Trust Confirm Trust Maintain Trust Register/Transact/Confirm Consider/Validation/Assess Browse/Search/Compare Trial Threshold Purchase Threshold Habit Threshold Untrust phase Extrinsic Intrinstic Recommendation © Poole (2005), adapted from Reynolds (2000)
- 22. The future is about … Relevant Choice Me, Me, Me Me, Me, Me Me, Me, Me Me, Me, Me I want to be unique I want to be unique I want to be unique I want to be unique Give me a choice Give me a choice Give me a choice Give me a choice I want to be in control I want to be in control I want to be in control I want to be in control Be relevant at the right time Be relevant at the right time Be relevant at the right time
- 23. Trust in Marketing Abuse demonstrates untrustworthiness, but to demonstrate trustworthiness is more difficult Trust = firm reliance on the integrity, ability or character of a person or thing
- 28. Trust in account management “… they were always being watched for symptoms of unorthodoxy” ‘ 1984’, George Orwell
- 37. Procurement behaviour low high high Procurement skills Business skills Butterfly buyers Strategic purchasing professionals Order takers Rottweiler buyers buy on value buy on cost buy on price
- 38. Trust on the Web Ethical marketing - can we do it? Thom Poole
- 46. The competitive advantage of trust “The marketing art of the opt-in” “Being trustworthy is profitable”
- 48. Getting your nose in front …
- 49. … but so is everyone else!
- 50. The Trust Checklist Not the answer - just more questions …
- 53. Thank you For your interest & attention Thom Poole [email_address]