Starting with trust: The eight standards every business should know

By Shelley Polansky, President/CEO 

The first Better Business Bureaus, established in 1912, were originally called Vigilance Committees or Advertising Clubs, and their goal was to correct advertising abuses. In response to marketplace demands, BBBs quickly expanded across the country to monitor business performance and provide consumers with reliable information to avoid pitfalls in the marketplace. 

Forty years ago, the BBB Serving Northern Colorado and Wyoming became the resource communities across Wyoming, eastern Colorado, and the Colorado mountains turned to for fostering trust between consumers and businesses – and we still play this important role today. 

The BBB strives to build ethical marketplaces where buyers and sellers trust each other. To accomplish this goal, the BBB established standards for businesses to create and maintain trust with their customers. 

These standards – known as the Standards for Trust – incorporate lawful business practices and the BBB’s experience with ethical advertising, selling, and customer experiences. They are the principles by which the BBB independently vets and monitors businesses that apply for BBB Accreditation. While not every business will qualify for BBB Accreditation, the ones that do continually meet these eight standards. They earn the respected designation of being a BBB Accredited Business and can proudly display the BBB seal to demonstrate their commitment to operating ethically and honestly. 

Trust is a function of two primary factors – integrity and performance. Each of the eight standards rest on a business’s ability to operate with respect, ethics, and good intent. But doing this once isn’t enough, that business must have a proven track record of delivering results and addressing issues, should they arise.

Build trust

Trust is not something that is built overnight. By establishing and maintaining a positive track record in the marketplace, companies can demonstrate that they’re able to deliver consistent results over time and that they have staying power – both of which goes a long way in instilling consumer confidence. 

Advertise honestly

All forms of advertising, marketing, and sales should be truthful, sincere offers to sell. Companies have a responsibility to substantiate any claims and avoid content that misleads or deceives consumers – that goes for pricing and savings claims, value statements, competitive comparisons, free offers, credit, shipping, warranties, guarantees, rebates, testimonials, contests, and more. 

Tell the truth

Honesty isn’t just reserved for advertising. Businesses should honestly represent their products and services by clearly and prominently disclosing any material terms. All written and verbal representations should be communicated in a straightforward manner and include all relevant facts. 

Be transparent

Never make customers hunt for information that could impact their purchasing decisions. Customers should have direct and effective ways to contact the business with any questions, concerns, or complaints. There should never be any surprises – clearly disclose return and refund policies; financial commitments like automatic payments or renewals; known stock shortages or shipping delays; and the total cost with all applicable charges. And don’t forget to provide a receipt. 

Honor promises

Promises made should be promises kept. Whether agreements are written or verbal, companies should abide by any contracts, commitments, and representations that they make. 

Be responsive

No company is perfect – mistakes and miscommunications happen. And that means, every business is bound to receive a complaint from time to time. What matters is that complaints are addressed and resolved. Respond promptly and professionally to each complaint and act in good faith. 

Safeguard privacy

In today’s world, personal data is worth billions – and there are always bad actors looking to exploit that information. Companies should only collect personal information as needed, and all data collected should be protected against unauthorized disclosure and fraud. For sensitive financial or health information, establish strong policies for secure collection and transmission, data protection, and proper disposal. 

Always respect customer preferences for the use of their information. 

Embody integrity

It’s not always easy to do the right thing. But companies that approach their business dealings, marketplace interactions, and commitments with integrity and good faith earn customers’ respect, confidence, and support.  

The signs of a better business

BBB’s Standards for Trust are not just for businesses applying for accreditation. Consumers should use these attributes as a measuring stick for evaluating their purchasing decisions. Business leaders should put these principles into practice – if they’re not already – to instill trust with their customers, employees, and communities. After all, everyone wants to do business with organizations that do the right things for the right reasons – that was true in 1912, when the BBB began; in 1983, when the BBB Serving Northern Colorado and Wyoming was born; and today, when there’s a heightened sense of distrust in all facets of our world. 

Local business leaders hold the key to restoring trust. You have the power to be a marketplace role model by operating with honesty, integrity, and excellence. And you can start with meeting and abiding by the Standards for Trust.  

Shelley Polansky is president/CEO of BBB Serving Northern Colorado and Wyoming.