The Trust Bust

02Oct08

Amid the turmoil on Wall Street and the uncertainty on Main Street, I’m starting to wonder where trust will land once the dust settles. In the past month or so, we’ve seen legendarily strong brands crumble and reputations plummet. Brands who built their success on the promise of strength, certainty and expertise. And even for those of us who were directly unaffected by the crash of AIG, WaMu, Freddie & Fannie, and the Lehman Brothers, I’m still left wondering where all of this nets out for the consumer.

As we anxiously wait for the outcome of the bailout and try to sift through the financial crisis fallout, there’s one ad after another touting confidence and financial security. Just today, I went through the Chicago Tribune and pulled four financial services advertisements (and that’s just in the front section) that used the word ‘trust.’ Coincidentally, on my commute home today, I read Dean Crutchfield’s article in this week’s Ad Age on that same subject.

The old adage immediately comes to mind: fool me once, shame on you; fool me twice, shame on me. Unfortunately, it’s hard to gain back someone’s trust – as I’m sure we’ve all experienced at some point in life – but it’s even harder to accept when you’re not the culprit. With headlines screaming about recessions and companies struggling to maintain the status quo, how can marketers come across as genuine in a time where lies and deception are commonplace – and almost expected?

Obviously, those working in the financial services industry have their work cut out for them, but doubt is contagious and oftentimes, the innocent end up on the chopping block.

What are you doing to earn the trust of the American people?

Advertisements


No Responses Yet to “The Trust Bust”

  1. Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: