November 1, 2019

The Cost of Losing Trust in Business – CEO Magazine

Published Articles

When a business loses trust from its customers or employees, a costly and time-consuming plan for brand repair and rebuilding ensues. Rather than haemorrhage millions and lose business to a competitor, here’s what companies must do when it comes to loyalty.

‘If a brand isn’t trustworthy, when choice is available it’ll be rejected in favour of one that is’.

This statement comes from Sean Pillot de Chenecey’s 2018 book The Post-Truth Business and I think it highlights one of the biggest dangers to a business – when they are not seen as trustworthy – and the inevitable cost.

With the rise of fake news, sophisticated scams and recent royal commissions, we are increasingly coming from a default position of mistrust, or at a minimum, a very cautious perspective.

Click here to read the full article.