In a world of blurred truths and broken systems, trust is eroding across different aspects of modern life.
If you think everything is swirling in confusion, you’re not alone. All around us, society, business, and marketing are mired in uncertainty of a kind of pandemonium where the structures and patterns we’ve come to know, and trust, are no longer evident or decipherable. And it’s more than the tariffs. Indeed, the tariffs are wreaking economic havoc and fostering an economic slowdown and consumer non-confidence, which adversely affects sales and budgets. But they are just one piece of the puzzle (albeit a big one) creating a cascading effect along, with other pre-existing variables, that erode the very foundation of socio-economic systems.
- Tariffs – we are witnessing a tragicomedy in real time with a daily whipsaw effect of indecision, consequences, and idiocy. Nothing can be planned whether personal schedules or business agendas due to lack of certainty with the result that nothing productive or fruitful happens. Get ready for another whipsaw tomorrow…
- Misinformation and disinformation – we can’t trust information anymore, certainly not like we used to. The fact-checking guardrails of social media have been stripped away such that disinformation can now masquerade as truth, and misinformation is allowed to wallow in its own muddle. And the bias of news organizations, mandated by corporate overlords with a reason for private gain, is another crack in the mantle of distrust. Add to this, the kinds of (lightweight) stories and information that are being prioritized and spoon-fed to you by media, and it becomes clear that all that’s out there cannot be taken at face value. Event when it’s fact.
- Generative AI – have you seen AI deepfakes that mimic politicians or celebrities? You probably have but don’t even know it. That’s how good they are. That’s why there are so many competing versions of reality. So what can you trust these days when you can’t even trust your eyes?
- Social media – akin to the point above citing misinformation, disinformation, and the disappearance of fact-checking, social media itself has fomented an environment of toxic commentary where friends become foes and complete strangers threaten bodily harm. Yes, the eyeballs are still there but should there be a discount for the weakened trust environment.
- Luxury brands that aren’t luxury – Trump’s tariff wars with China have created an entire raft of casualties, none more puncturing than the exposure of luxury brands as, gasp, Made in China, but finished in Italy, with the word ‘finished’ being somewhat loose (such as the label is sewn on in Italy). The allure and illusion that designer brands have built over the decades have, in days, come crumbling down including trust in those brands and the quality and workmanship they exude, not to mention the exclusivity.
In uncertain times, brands earn trust by showing up consistently, delivering on promises, and communicating with transparency and purpose.
So, what’s a brand to do? The answer: build or reinforce trust.
- Extend guarantees – offer guarantees on your products or services to reinforce their quality and value. If you already offer a guarantee, extend it for longer periods to create confidence and build trust.
- Do as you say, and say as you do – in a world of empty promises, be a brand and company that honours what you say, and take steps to reinforce those words by actions. For example, in a retail setting, this means ensuring your communications in the marketplace are matched by staff at the store level to complete the trust loop.
- Be direct, sincere, and authentic, with a smile – at a time when customers are roiled with confusion and uncertainty, don’t add to it by making them have to second-guess. Get straight to the point in a direct, sincere, and authentic way, all while projecting an air of friendliness. Does it mean less creativity? Not necessarily, but perhaps creativity that’s less obtuse but still makes that emotional connection.
- In social media, pick influencers you can trust – how many social media influencers have you seen go rogue, make sexist or discriminatory pronouncements, and lose the brand appeal they spend to much time and energy to create? Yeah, those ones. More than number of followers and ‘likes’, look for deeper qualities such as values, integrity, and of course, trustworthiness. This may take more time to vet but it will benefit you in the long term.
- Over-communicate with not just benefits, but values – speaking of values, this might be the most crucial point. After all, trust is a value. Sell your product, pitch those USPs but wrap them in values that your customers can get behind. It’s a story customers need now.
- Be agile and opportunistic – they say the only constant is change so what about embracing the uncertainty and using it to your advantage? Tariffs down today by 10%? Drop your prices by 10%. This would necessitate the opposite when the tariffs go up, but you get the point – by being agile and opportunistic while making a social commentary of the times in which we live, not only do you engage customers in a more compelling way, but you’re also saying trust us, even if you can’t trust the system.
A final note not necessarily related to trust: might it be a good time (when few are looking) to realign your customer marketing to better reflect your customer mix? For example, if 50% of your customers are Asian but you spend only 10% of your budget reaching them, now’s the time to move them up your priority list along with budgetary importance. Imagine the ROI a greater investment in this customer base would yield. Think of it another way, your more-productive customers have been subsidizing your lower ROI customers. A realignment could be meaningful and instill trust in these more engaged customer segments.
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