I for one \u2013 with all my flaws and humanness \u2013 am quite forgiving towards most people in my life. But extending a second or third chance towards brands and businesses? I realize I\u2019ve held grudges for years on end. But here\u2019s what\u2019s interesting \u2013 there are exceptions.<\/p>\n\n\n\n
What do these exceptions have in common? These are businesses that win-back trust. And that, fellow marketers, is the power of goodwill. RetailDrive\u2019s research report<\/a> shows that 73 % of customers will stop doing business with a company after only three (or fewer) bad experiences. Customer Goodwill is a powerful business asset. Both client acquisition and retention are greatly influenced by it. <\/p>\n\n\n\n But how do you build brand goodwill while remaining authentic? My colleague, Madhuwanti, wrote a couple of weeks ago about how brands have created videos around the LGBTQI+ community that go beyond being \u2018content for Pride month\u2019. While Cause marketing is often used as a seasonal peg, if the cause you choose to create video content<\/a> for does not embody your brand, campaigns could represent your brand to be inauthentic, doing more harm than good. However, there still are plenty of routes you can take to build brand goodwill. Here are four ways:<\/p>\n\n\n\n1. Corporate Social Responsibility<\/h2>\n\n\n\n