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The presentation shows how to build and improve trust and creating brand trust to improve your organisational performance. Actively building trust can have an immediate effect. A small 20% increase in trust can mean a 400% improvement in customer attitude and behaviour. Trust drives up to 80% of the Net Promoter Score (NPS), satisfaction and reputation. We are able to understand and manage this key driver with HuTrust®. HuTrust® is scientifically robust, statistically sound and practically proven. Presentation made by Stefan Grafe, HuTrust® developer and managing director at mext consulting.
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HuTrust® by mext www.mextconsulting.com www.hutrust.com
BRANDprepared by Stefan Grafe, managing director, mext consulting & HuTrust® developer,
1HuTrust® by mext www.mextconsulting.com www.hutrust.com
isT H E S I X D R I V E R S O F T R U S T
This publication and results are copyright mext 2013. HuTrust and the 6 drivers of trust are copyright and trademark of ifm/mext. Copying and publishing by any means is not permitted without express permission of the copyright holder except as permitted through the Australian copyright act and for information purposes. Photos copyright istock.com and mext The six drivers of brand trust, reputation, Net Promoter Score (NPS), customer satisfaction & loyalty and stakeholder engagement (investor engagement, employee engagement). Die sechs Treiber von Vertrauen, Reputation, Net Promoter Score
(NPS), Kundenzufriedenheit, Kundenbindung, Investor- und Angestelltenbindung
HuTrust® by mext www.mextconsulting.com www.hutrust.com
As human beings,
we inherently understandthe importance of
trust
HuTrust® by mext www.mextconsulting.com www.hutrust.com
From finance…
HuTrust® by mext www.mextconsulting.com www.hutrust.com
…..to friendship…
HuTrust® by mext www.mextconsulting.com www.hutrust.com
and the contents of our food...
HuTrust® by mext www.mextconsulting.com www.hutrust.com
We rely on trust.
Everyday and in everything we do
HuTrust® by mext www.mextconsulting.com www.hutrust.com
“ You can have all the facts and figures, all the
supporting evidence, all the endorsement that you
want, but if at the end of the day you don’t
command trust, you won’t get anywhere.”
Niall FitzGerald (2001)Former Chairman ad CEO of Unilever
HuTrust® by mext www.mextconsulting.com www.hutrust.com
But trust is
not just
warm and
comforting
HuTrust® by mext www.mextconsulting.com www.hutrust.com
trust is
exhilarating
HuTrust® by mext www.mextconsulting.com www.hutrust.com
and building trust delivers immense
commercial value
HuTrust® by mext www.mextconsulting.com www.hutrust.com
That’s why since 2004 mext specialise in helping clients build and manage
trust. We (and our partners) continuously conduct studies globally into
the benefits and drivers of trust with the HuTrust® methodology
Studies with over 25.000 respondents have contributed to understanding,
validating and applying the HuTrust® approach in building and
managing trust.
HuTrust® by mext www.mextconsulting.com www.hutrust.com
Our studies found that when people
trust a brand…
HuTrust® by mext www.mextconsulting.com www.hutrust.com
83% will recommend
it to
other people
HuTrust® by mext www.mextconsulting.com www.hutrust.com
82% will use its products & services frequently
HuTrust® by mext www.mextconsulting.com www.hutrust.com
78% will look to it first for
the things they
want
HuTrust® by mext www.mextconsulting.com www.hutrust.com
78% will give its
new products and services a chance
HuTrust® by mext www.mextconsulting.com www.hutrust.com
47% will pay more for its
products and
services
HuTrust® by mext www.mextconsulting.com www.hutrust.com
74% believe it’ll inform them about products and services
they’ll like
HuTrust® by mext www.mextconsulting.com www.hutrust.com
In effect,If you want people to:
Buy more, Try more and Pay more
Then building more
brand trust is the key
HuTrust® by mext www.mextconsulting.com www.hutrust.com
So if harnessing trust is
the key to people buying, trying and paying more
for a product or service,
how do you harness brand trust???
HuTrust® by mext www.mextconsulting.com www.hutrust.com
By understanding
what your trustis made of.
HuTrust® by mext www.mextconsulting.com www.hutrust.com
Trust Driver 1:
Stability…a brand must have a strong
foundation in
order to be
trusted
HuTrust® by mext www.mextconsulting.com www.hutrust.com
Trust Driver 2:
Development…a brand must be seen to
continue to develop &
innovate in order to be
trusted
HuTrust® by mext www.mextconsulting.com www.hutrust.com
Trust Driver 3:
Relationship…a brand must provide an
appealing relationship in
order to be trusted
HuTrust® by mext www.mextconsulting.com www.hutrust.com
Trust Driver 4:
Benefit…a brand must deliver
a relevant benefit in
order to be trusted
HuTrust® by mext www.mextconsulting.com www.hutrust.com
Trust Driver 5:
Vision…a brand must have a
strong vision in order to
be trusted
HuTrust® by mext www.mextconsulting.com www.hutrust.com
Trust Driver 6:
competence…a brand must have relevant
competencies in
order to be trusted
HuTrust® by mext www.mextconsulting.com www.hutrust.com
The six drivers of HuTrustare psychologically correct.
Even statistically they drive over 75% of trust
– when, statistically, 65% would already be considered very high
®
HuTrust® by mext www.mextconsulting.com www.hutrust.com
Our research found that all six drivers are
almost equally correlated with
brand trust…
Trust Driver Weighted Average
Stability 0.70
Development 0.73
Relationship 0.76
Benefit 0.74
Vision 0.79
Competence 0.81
Australian General Population 1,110 sample, 2010
HuTrust® by mext www.mextconsulting.com www.hutrust.com
But no single driver can
harness trust
by itself,
HuTrust® by mext www.mextconsulting.com www.hutrust.com
because they
all work together like
parts of an
engine
HuTrust® by mext www.mextconsulting.com www.hutrust.com
So how can you start harnessing trust in your
business or brand???
HuTrust® by mext www.mextconsulting.com www.hutrust.com
Step 1: Establish your metrics(what is the strength of your trust drivers?)
HuTrust® by mext www.mextconsulting.com www.hutrust.com
For example:
If your brand is already
strong in stability,
there may be little use in driving that more. But if it has a lack in
vision trust then that
may be the trust driver to focus on.
HuTrust® by mext www.mextconsulting.com www.hutrust.com
Step 2: Define your trust drivers (what do your customers want to trust your brand for?)
HuTrust® by mext www.mextconsulting.com www.hutrust.com
For example:
What type of vision is attractiveand engaging for your customers,
consumers, employees and analysts?
HuTrust® by mext www.mextconsulting.com www.hutrust.com
Step 3: Refine your tactics(Use every process & program to build trust)
HuTrust® by mext www.mextconsulting.com www.hutrust.com
For Example:
If your relationship is
about ‘challenging’, then your product, brand & experience should reflect this
HuTrust® by mext www.mextconsulting.com www.hutrust.com
As human beings we inherentlyunderstand the importance of trust.
We need to transfer this understanding
into commercial work, because…
HuTrust® by mext www.mextconsulting.com www.hutrust.com
trust drives the vast majority of
stakeholder behaviour.
Trust is the key to people
buying your products &
services and staying loyal to you.
HuTrust® by mext www.mextconsulting.com www.hutrust.com
Global contact:mext Consulting Australia Stefan Grafe, Managing Partner & HuTrust® [email protected]
165 Cremorne Street Richmond VIC 3122+61 3 94285417
For further information and HuTrust® usage, please contact
Duxton Consulting Singaporelaurenz.koehler@duxton consulting.com26 Duxton Rd.Singapore 089490Phone: +65 6323 3340www.duxtonconsulting.com
Christina [email protected] Str. 1480335 MunichPhone+49 (0) 89 20209610www.psyma.com
Concerto [email protected] Suite 250 – 128 Hastings St. WestVancouver, BC V6B 1G8t: 604-684-8933f: 604-684-8934
Who Group AustraliaMichael Dudley [email protected] 2, 1 Southbank BlvdSouthbank VIC 300603 8636 4000www.whogroup.com
41HuTrust® by mext www.mextconsulting.com www.hutrust.com
This publication and results are copyright mext 2013. HuTrust and the 6 drivers of trust are copyright and trademark of ifm/mext. Copying and publishing by any means is not permitted without express permission of the copyright holder except as permitted through the Australian copyright act and for information purposes. Photos copyright istock.com and mext The six drivers of brand trust, reputation, Net Promoter Score (NPS), customer satisfaction & loyalty and stakeholder engagement (investor engagement, employee engagement). Die sechs Treiber von Vertrauen, Reputation, Net Promoter Score
(NPS), Kundenzufriedenheit, Kundenbindung, Investor- und Angestelltenbindung
Tred InternationalAdam Thorp, DirectorMobile: 0417 584 599 Phone: 02 9300 6439www.tredinternational.comEmail: [email protected]