Trust Can't Be Built By Going At It Alone

March 8, 2018

Trust Can't Be Built By Going At It Alone

Trust has always been a vital part of business. But look back 16 years and it’s clear to see how the importance of customer trust has evolved.

Cristina Ampil, Managing Director, United States Thought Leadership Institute at PwC highlights figures from the firm’s annual global CEO survey which chronicles public trust and its impact on a company’s growth strategy. In 2002 only 29% of global CEOs believed that corporate misdeeds posed a serious threat to businesses. Fast forward to 2013, after the financial crisis, 37% of the CEOs surveyed stated that public trust was very important to achieving a company’s growth strategy.  In the most recent CEO survey of 2017 that number had gone up to 58%[1].

And this is one of the key messages Cristina Ampil highlights in LinkedIn’s latest Pathfinders of Trust video series.

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While most companies are striving to build and deepen consumer trust, where it most frequently breaks down, Cristina says, is in “business intersections.” This is where ownership and responsibility across networks can become muddied, ultimately damaging often hard-earned customer trust.

Knowing your business capabilities and where you sit in the wider advisory ecosystem is crucial for avoiding trust breakdowns and providing solutions that stand out.

“The way to build trust is not to do it alone but work with all the other firms in the ecosystem where risks cascade.”
“Be a strong participant in a community of experts, practitioners and problem-solvers who can round out the view on the way you solve the problem and represent different views of stakeholders.”

The trust truths

Watch Cristina Ampil's Pathfinders of Trust video to hear more about how to navigate a post-trust world, work as part of an expert ecosystem and maintain brand authenticity.

[1] PwC Annual Global CEO Survey, 2017