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U.S. Consumers Leave Business Outside Their Circle Of Trust

Trust in business among the world's consumers is down 2%, according to the 2011 Edelman Trust Barometer.

After the last few years of economic turmoil, however, maybe a 2% drop isn't all that bad.

Consumers in some countries, most notably Brazil and Germany, are actually putting more trust in business, not less. Consumers' view of business remains strong in China and India as well.

The United States didn't fare as well in Edelman's poll. U.S. consumers' trust in business is down eight points to 46%, putting the United States only five points ahead of last place. Perhaps not surprisingly, U.S. consumers seem to trust the banks the least. Their shaky relationship is like the one between Jack Byrnes (consumers) and Greg Focker (banks) with the whole "circle of trust" thing.

Trust will improve eventually, but in the meantime smart companies will see this survey as a chance to forge a higher level of trust with their customers. U.S. entrepreneurial firms in particular have a good opportunity to stand out by offering great customer service; making it as easy as possible for customers to buy from them; handling complaints well; and doing what they say they will do, because not living up to your own advertising is the quickest way to get kicked out of someone's circle of trust.

Click here for the study.


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