Extreme trust: the new competitive advantage

The authors posit that leading companies are achieving competitive advantage by designing their information system and operations to protect and promote each customer's interest proactively.

Called “extreme trust,” this approach requires a re-assessment of value produced by the systems that produce the customer journey experience.

Companies need to revisit customer relationship management in the light of three principles: Seeing opportunities to create value from the perspective of the customer; taking extra steps when necessary to ensure that a customer does not make a mistake, or overlook some benefit or service; and not failing to do something that would have significant benefit for the customer.

Case examples are offered.

Trustability is in fact financially attractive for a business, even though in many situations it may cost money up front in the form of forgone profits or newly incurred expenses, as many business improvements do.

The authors promote the proposition that quantifying the benefits of establishing “extreme trust” – including the value of increased customer loyalty, referrals and additional sales – requires a robust customer analytics capability, as well as a financial perspective that fairly balances short-term and long-term results.