Trust in Marketing
Trust in marketing, an important element and a lesson for all.
We all understand the pillars of marketing of know, like and trust and I use today s Boeing scandal as an exercise in losing trust.
First of all I want to respect the lost lives of nearly 500 individuals that went down with two crashes in the past month. They and the families suffered a tragic loss.
Trust is earned and when lost the results can be diabolical.
This is the case of two different attitudes.
First is Boeing, a company decades old and world leader in Manufacturing planes off all sorts.
With Two tragic crashes with supposedly similar causes Boeing has a duty to respond. And they did.
They adamantly deny any problem with the aircraft and what happened to them.
The share market slammed them and the world took action.
China Air a massive buyer of the $120 million dollar planes grounded all 737 planes
taking a Zero risk factor. You can imagine the cost to China in doing this but they led the action
That was followed by many other Airlines.
Furthermore China was expected to buy a further 7690 Boeing planes by 2030 a spokesman for Boeing stated.
By outright denying a potential problem may exist all trust in Boeing is lost.
They are currently the world leader in Aircraft supply and the 737 is the top seller but will be taken over by others in the coming decade. All because of arrogance in the face of disaster.
China, often seen in the past as a bit of a Basket case in this area comes forward as a leading contender in Air Safety.
I well remember Boarding a Plane in Northern China when walking out to the tarmac another plane was taxying out, it turned and gave a full jet blast sending gangplanks flying in all directions and us passengers fighting to stay upright. Now 15 years on they have changed.
So what of the Trust factor.
When trust is compromised face it and do something about it. You will be respected and not lose valuable business as a result.
Lie, Deny and worm out of the situation will always end in disaster.
Boeing may recover but at a massive cost. It is reported that nearly 5000 planes are in the current order line with many counties and Airlines presently reconsidering the purchase.
All the but's and Ifs in the world do not change public opinion.
Travelers are bailing out of flights, Country are grounding planes and orders being canceled for a marketing exercise that has gone horribly wrong.
Boeing should have led the way with promises to fix the situation with Immediate effect. It may not even be a Plane problem, it could be pilot error or training but perception is there.
Boeing will be the loser and China the winner in a Trust issue.
Real world problems can be reduced to our own small life. Use the example in your business to ensure customer loyalty. Even at a cost.
Peter Hanley
Recent Comments
2
Thank you for sharing this great blog about trust with a recent relevant example. Trust is indeed a business pillar as Boeing will tell.
This is very good post. People make mistakes, companies make mistake, accountability goes a long way in maintaining trust and earning respect. My heart goes out to the victims families.