Why does it matter? I’m a strong believer that all aspects of business come down to trust: a customer relationship is based on a simple transaction: they trust you that your product or service will be worth the money they give you. If that trust is ever broken, because of a bad experience, or a faulty product, or a misunderstanding, they won’t return. And once a company, product, or brand earns a reputation of mistrust, it’s nearly impossible to repair.
Most companies don’t look at its customers as individual human beings who make a conscious decision to trust the company. They make decisions based on broad stereotypes or carefully crafted demographic groups or generalized personas. But in reality, items aren’t bought by 18-34 year old urban-dwelling women. Purchases are personal, based on discussions someone has had with friends, or after taking time to really find something that’s best for them.
Every action someone takes, whether it’s in the context of marketing, sales, or setting up a play date for your kids, either supports or erodes trusting relationships.
So, why does it matter? Because a company that has a strong ethical foundation is going to do the right thing for its customers.