Flip the Funnel: How to Use Existing Customers to Gain New Ones

IT ALL COMES DOWN TO TRUST

In a world where consumers trust other consumers more so than corporate and government institutions, is it any wonder that the man in the street is more like Superman when it comes to persuading others from following their lead—or dissuading them from making the same mistake they did?

The 10th edition of the Edelman Trust Barometer, released in 2009, opens with this pretty grim executive summary of the State of the Trust Union:

Government bailed out banks in New York and London. Melamine-laced baby formula rolled off assembly lines into the homes of Chinese parents. American auto executives descended on Washington hungry for handouts. An Illinois governor was led away in handcuffs. And as a $50 billion Ponzi scheme collapsed, an Indian tech mogul’s fraudulent enterprise started to crumble. This year, the world had more reasons than ever before to suspend its trust—and for the most part, our data reflect this. Nearly two in three informed publics—62% of 25-to-64-year-olds surveyed in 20 countries—say they trust corporations less now than they did a year ago. When it comes to being distrusted, business is not alone. Globally, trust in business, media, and government is half-empty; and trust in government scores even lower than trust in business.

Figure 12.1 Deconstructing Trust in Companies

Source: Edelman.

As Figure 12.1 illustrates, trust itself ...