Trust Me!

The 2009 Edelman Trust Barometer report was just released, and frankly, the news is depressing. Trust in U.S. business is at all time low among “informed publics” ages 35 to 64 – lower today than after the Enron scandal and dot-com bust. The data from Europe isn’t much better, though emerging economies such as China seem to be faring better on this scale.

The data that should encourage those of us in business, however, is in the section on why trust matters: 91% of 25-to-64-year-olds around the world indicated they bought a product or service from a company they trusted, and 77% refused to buy a product or service from a distrusted company (my emphasis).

Here at EthicsPoint we’re extremely proud of our nearly 100% customer retention record, but this report is a good reminder that we can’t rest on our laurels, and simply listing customer orientation as a core value is not enough. We have to earn your trust every single day. If we fall short of that, please let us know, and hold us accountable to the commitments we make.

Risky Business

Despite what I tell my 13 year old son, I really am not a trendsetter, nor a very good prognosticator of things to come (my latest investment summary statement will more than confirm that statement!). But I like to believe I’m at least smart enough to recognize a trend – especially when lots of really smart people are already talking about it. And what I’m hearing and reading a lot lately is that companies are really shifting their focus from compliance to managing risk.

Interesting report

I just finished reading Forrester Research Analyst Chris McClean’s latest research, Trends 2009: Governance, Risk, And Compliance Hit The Big Time. (You’ll need to either have a subscription or purchase this report to view it). In the summary, Chris writes:

“Another bubble burst. The chain reaction stemming from the credit crisis caused an implosion of the global economy. Political, corporate, and economic leaders have argued ferociously about how we can reverse the damage, questioning business ethics, the role of government, and even fundamental economic assumptions. While the dust settles, professionals responsible for governance, risk, and compliance (GRC) will play major roles in transforming the corporate landscape to reduce the possibility for another such collapse. Process and technology strategies in 2009 will focus on risk standardization, increasing oversight, performance and risk management coordination, evolving expectations of corporate responsibility, and big shifts in GRC technologies.”

In the subsequent report four out his five big trends in GRC for 2009 have managing risk more efficiently as a central theme. If this isn’t at the top of your priorities for this year, why not?

Inspirational vs "Scare" Marketing

On powerful people and enterprise software
What gets your attention? What drives you to make a buying decision? As a marketer, I think about this all the time – how can I explain the benefits of my solution and motivate you to want to learn more or even buy it? I remember a professor in business school telling me that people ultimately want to be richer, more attractive, more powerful and perhaps healthier – if you can promise those things, you’ll be successful. Unfortunately, enterprise software rarely makes the list of things people look for in a mate, so I need to appeal to prospects on a different level.

Scare marketing isn’t the way to build a relationship

I think the easy way out is to use “scare” tactics; identify the bad things that can happen if you don’t have my solution (“Employee Fraud rises During Economic Downturns,” “Executive Caught Embezzling – Is it Happening to You?” “Avoid Huge FCPA Fines”!”). Sure, you’ll get attention – people slow down to gawk at car accidents, watch “reality” crime shows and listen to bombastic radio hosts, right?– But I don’t think you’re helping your brand or starting the relationship with your future customers off well when this makes up the bulk of your messaging.

Focus on value
Instead, I’d prefer to be more inspirational - which I think actually ties back to the root motivators identified by my professor. If I can help you save time, save money, reduce risk, eliminate daily frustrations, etc. ultimately you will become richer and more powerful (pay raises and promotions come to those who help their organizations achieve these things). I won’t promise to never use negative stories in my marketing, but I do hope to keep them to a minimum.

What are your thoughts? What gets your attention?

Shameless plug
Oh, and if you are worried about the rates of fraud rising in these tough times, you may want to check out our upcoming webinar. Meric Bloch, VP of Compliance and Corporate Investigations, Adecco Group North America, is an expert on workplace investigations, and promises to share his insights on how to fight fraud.

About This Blog

I’ve got a confession to make, and like many confessions, this is a bit embarrassing to me.
This is my first blog post. Ever.

I’ve had marketing leadership roles in technology for more than 20 years. I have Twitter, Facebook, Delicious, LinkedIn, Digg, Naymz and a bunch of other Web 2.0 accounts. I routinely read a number of blogs. I believe in the value of these technologies so much, I even immediately explained to my CEO that we were going to start blogging, and that included him when I first started here in mid September. Not only did he enthusiastically agree, but he beat me to the punch and already has started posting.

I don’t know why it’s taken so long, but now really is a good time to start my own blog. I’ve learned a number of things since joining EthicsPoint: My coworkers truly care about doing the right thing and exceeding the expectations of our customers. The people here are friendly, approachable and passionate about what they do. This passion is appreciated– I’ve heard over and over when talking to our customers that they really like the personal attention they’ve received from Employee A and B. But as a company, we haven’t taken advantage of the technologies that can improve our communication and strengthen our relationship with you. Blogs are just one way we’re changing that.

So, in order to walk the walk, I’m belatedly – but happily - entering the blogosphere. Because I’m blogging as the leader of the marketing team at EthicsPoint, many of my posts will touch on things relevant to our industry, business ethics in general, marketing and will include some company info as well. But I’m going to try really hard not to have this become just another vehicle to push our marketing messages. You can get those on our web site, through our case studies, press releases, whitepapers, sales presentations, etc. Instead, I’m essentially going to write about things that you and I might discuss if we were having a beer together after a day of work.

Hopefully you’ll find it useful, interesting or thought-provoking. But whether or not I hit the mark, I sincerely hope you’ll join the conversation and let me know your thoughts.