Photo by @Webitect Ray-Shu
An abundance of high-trust relationships is the name of the game for successful luxury real estate marketing professionals and all businesses. Whether you have a personal brand or a company brand, one of your most important jobs must be “brand manager”. As such, your job description is to continuously maintain a high level of trust because your brand is your TRUSTMARK.
Samsung is facing a massive brand crisis! Call it a crisis of trust. The key issue with Samsung’s Galaxy Note 7 debacle, in which they are permanently discontinuing production of this smartphone model due to faulty batteries and other parts, is not the $17 billion loss in valuation. It is the potential loss of loyal customers. They will regain their valuation if they can regain the trust of their valued customers.
To get trust back they have to answer, YES, to the question most pressing in the minds of their customers: “Does Samsung have my back?”
Damage control of mistrust is priority one. Re-establishing trust will be a test of Samsung’s leadership. It will require Herculean strength of character to rebuild the brand’s reputation.
Trust is the foundation of a brand’s value. That is why you cannot cut corners in your quest to surpass your competition. As the Samsung ordeal demonstrates, trust can literally be destroyed overnight.
Is your brand your trustmark?