01/31/2024

Use Digital Resources to Mend Broken Trust During Crises

This is particularly crucial for organizations

Trust is the cornerstone of any successful business-customer relationship, especially for small businesses. This trust, painstakingly built over time, can be fragile and vulnerable to various crises that might strike unexpectedly. Whether it's a social media mishap, a product recall or a data breach, such events can swiftly erode the hard-earned confidence customers place in a brand. Today, information spreads more rapidly than before, which can amplify the crisis, making effective crisis management an essential skill for any business.

While crises are to be avoided, businesses experiencing a crisis can manage it in a way that maintains and even strengthens customer trust. This is particularly crucial for small businesses, where a strong customer relationship is a significant competitive advantage.

But how can small businesses navigate these turbulent waters and come out stronger? What lessons can they learn from larger businesses that have faced and overcome similar challenges?

Please select this link to read the complete article from ANA's Driving Growth.