In a tough economy, everyone is looking for ways to increase revenue. Organizations are making tough choices, customers are making tougher choices, and your people are doing everything they can to keep things moving forward.
This represents one of the most dangerous times for any business.
The tendency to do anything to increase revenue is tempting. But these short-term fixes can irreparably destroy the trust your customers, employees and peers have in your brand.
So how do you know if you are going too far?
Easy, ask your customers and your employees. Marketing research is the only way to know what you’re your customers and employees are willing to accept.
Trust is built on two-way communication. It's about listening. To build trust, you have to clearly understand what your customers want and need from you and how they will react to new offerings or to changes in existing offerings.
Companies that listen to consumers, employees, and stakeholders will continue to produce excellent goods and services that will not compromise the quality and value that they expect from your brand.
Those who don’t listen are risking the one thing that will get them through the recession, their customers.