Let’s state the obvious: Trust is having a moment – and not in a good way. All around us, the institutions many of us grew up thinking were unshakeable are wobbling. Trust in the government or Supreme Court? Drastically down. Faith in the media? Low. Corporations and nonprofits? Even those, once assumed to be the haven of integrity, aren’t immune.
The Trust Deficit: How We Got Here
Year after year, public trust in nearly all institutions has been slipping. The reasons aren’t complicated. Scandals. Polarization. Broken promises. Algorithms serve us exactly what we want to hear, rather than what we need to know. Mix it all together and you get a big bowl of cynicism soup.
For brands, it presents serious challenges. Yes, people turn to companies to provide goods and services. But they’re also looking for businesses that connect with their personal values and are upstanding corporate citizens.
According to a recent Gallup and Bentley University study, 88% of respondents said businesses have some power or a great degree of power to make a positive impact on people’s lives – but only 8% said they were doing a good job of it.
In these tumultuous times, companies have an opportunity to forge deeper and stronger relationships with their customers, employees and recruits by offering them what they crave right now: a connection that speaks to who they are and something they can trust.
Think of the Brands You Really Love. Why Do You?
Is it solely because they manufacture a great product or provide a valuable service? That’s a lot of it, sure. But if you’re honest with yourself, you’ll probably admit there’s more to it. You have a bond with them. Their philosophy. What they stand for. What they do in the world besides sell things. It resonates with something inside you.
Take Patagonia for example. Their apparel may be functional and stylish. But a large part of why people are so loyal and passionate about the brand is because they live by the words in their company mission: to save our home planet. People who share that belief are drawn to the company in a deeper and stickier way than they would be if they were just another outdoor apparel clothier. This is a company that actively encouraged people to buy fewer of their products to reduce the carbon footprint, and it makes their fans love them even more.
Then there’s TOMS. Do they make fashionable, comfortable shoes? Yep. But what really put them on the map was their corporate policy to donate a pair of shoes to children in need for every shoe purchased.
I used to own a Subaru, and whenever I took my car in for service, the waiting area was filled with people who were clearly presenting themselves as outdoor enthusiasts and pet lovers. Which is part of the Subaru brand. People buy Subarus for their cars; but also, for what the company stands for.
These lessons are meant to underscore the idea that you don’t have to set out to save the world like Patagonia or turn your business model into a charitable arm like TOMS or even be a cutting-edge company in a cool sector like Apple to get people to love your brand. You can do it by making a small difference in the lives of your customers and the people who come to work for you every day. It’s a quiet superpower.
Can Doing Good be Good for Business?
Doing the right thing ought to be its own reward. But there are plenty of studies that indicate doing good is also good for a business. Research by Harvard, Nielson and McKinsey all show that companies that engage in purpose-driven initiatives tend to outperform their peers who don’t.
So, what are some ways you can make the most of the good you do, or plan to start doing, to help attract and retain customers and employees in a time when people are clamoring for meaningful connections in their lives?
Actions Speak Louder than Words
It seems like a no-brainer to suggest that to talk about the good things you do, you must actually do something good. Unfortunately, some companies don’t walk the walk before they talk the talk. They get ahead of themselves and try to make too much of small or fledging efforts. Which can come across as disingenuous. Which naturally works against any trust or affinity they may be trying to build.
One suggestion. Take inventory of the things you do that make life better for your employees, customers and the communities in which you operate. Ask yourself: are the people you count on for your success aware of these things? If not, how might you share a little of that story – without pounding your chest or bragging? One way to make people aware of something good you’re doing is by inviting them to join you in doing it. Also, you might start asking yourself (and your employees) whether you could expand your list.
Hold Yourself Accountable
Sometimes we fail to do the good or right thing. And you might think – yeah, that’s why we don’t talk about it much. We don’t want to set ourselves up for failure or create a standard we might fall short of on occasion. But here’s the thing: being honest about your successes and your shortcomings earns more credibility than pretending you’re perfect. We have a saying in our crisis counseling work (not that failing to uphold your standards on rare occasions necessarily rises to the level of crisis) that people will forgive you when you make honest mistakes, admit to them, and do your very best to fix the problem. Don’t let perfect be the enemy of good.
Purpose-Driven Culture, Messaging Isn’t a Side Project
If you think you can sprinkle a little purpose into your business, you’re mistaken. It has to be woven into the fabric of your brand, not tacked on as an afterthought. People are pretty savvy about sniffing out when a brand is overselling or posturing in a false or self-serving way. If they detect insincerity, it’ll do more harm than good and will shake the very foundation you’re trying to establish with your customers or employees. If your company touts that it has a lifetime warranty on its products; but then has all sorts of caveats and exclusions that customers only become aware of when they try to return a product, that’s likely to make them angrier than if you’d never had the lifetime guarantee in the first place.
Stories, Not Stats
Anyone can list a bunch of facts about the good things they do on behalf of their customers, employees and communities. We donated $XX,XXX to these causes. We reduced our carbon footprint by XX% last year. Our employee continuing education program helped X,XXX of people attain degrees over the past decade. All good points. But what’s better are the stories – human stories – around those stats. Talk to the people who’ve benefitted from your programs. Let them tell the world how much it has meant to them, from their perspective. Make the stories theirs. You don’t have to be the lead in the story. You’re a supporting character. And that’s actually a more powerful place to be.
To Take a Stand or Stand Aside?
So, what happens if the good you do falls on one side or another of a thorny political or social divide? This is happening today with a lot of companies whose cultures promote diversity, equity and inclusion in their workplaces. Those words, or a particular application of those types of programs, have come under fire.
Some companies have responded by shutting down, or pulling back on, DEI programs. Others are keeping the programs in place but are calling them by different names, or just not talking about them as publicly as they had before. Other companies are leaning into their support for these initiatives in the face of potential pushback.
What’s the right answer? I don’t have it.
But I’ll tell you this. If you’re looking for where to find it, consult your values. The mission, vision, values statement that most every company has. Take a good hard look at it. This is the core of who you are.
What does it call you to do? And what might it cost if you abandon it?
Probably a lot, if not everything.
If you abandon your core values – especially in situations where it becomes challenging to uphold them – that sends a clear message people likely won’t forget.
Does this mean your company needs to take a highly public stance on a particular issue? Not necessarily.
If you’re a reserved brand that doesn’t typically wade into public discourse, it may be completely appropriate and consistent with who you are to keep a low profile and quietly go about living your core values without calling much attention to it.
On the other hand, if your brand is passionate about a particular issue or cause and has a history of speaking out, it may be more natural to take a more public position.
Regardless of where you find yourself, my advice is if you want people to be loyal to you, you first must be loyal to yourself. Once trust is lost, it’s painfully hard to regain.
Want to talk more about building trust, messaging with purpose, or positioning your brand as a leader? Let’s connect. At Falls & Co., we help brands find their voice – and use it to make a difference.
