Consumer trust, consumer experience and risk management

Consumer trust, consumer experience and risk management

A recent article by Michael Lowenstein indicates that customer trust “is the connective tissue that holds customers, brands, and enterprises together; and, without trust, these connections would quickly dissolve.” Over the last few years Riskope have spent a lot of R&D funds and efforts to study the relationship between public perception of risks, risk assessments and crises developments, coming to the same conclusions. 

If trust is not built through at least:

• transparent and rational risk assessments,

• proper internal and external communication and

• true dialogue between projects’ proponents, operational entities, governmental agencies and the public,  

then projects, operations, initiatives are inevitably rejected, boycotted; protests can even degenerate into violence.

 At Riskope we recognize that what drives customer trust works as well for good risk management and the resulting social licence to operate! Examples abound in Italy and the rest of Europe, and, of course, world-wide where poor communication has lead to significant difficulties.

 I invite you to read the excellent blogpost by Michael Lowenstein keeping in mind this parallelism between customer care, risk and crisis management and the need to foster and maintain your social license to operate. An integrated customer centric communication/experience plan can be fully integrated with risk/crisis assessment/management plans, yielding impressive ROI on smoother and more efficient operations, higher (internal/external) satisfaction and awareness and fostering/preserving you social license to operate.

Tagged with: Analysis, assessment, compliant, Conflict, crisis, decision, development, risk, Risk Management, success, sustainability

Category: Consequences, Crisis management, Mitigations, Risk analysis, Risk management, Tolerance/Acceptability, Uncategorized