What is trust, and how do you earn it?
March 16, 2018
As an NFL player for ten years, Legacy’s Co-Founder Rolf Bernischke learned the value of trust when it comes to building a winning team. According to Edelman’s annual trust barometer survey, only 38% of Americans say they trust pharma companies, down 13% from last year. If we have any hope of building a winning team with the patients we serve, we simply must reverse that trend.
The Trust Equation illustrates that Trust = Rapport + Reputation + Reliability, DIVIDED by Self-Interest. No matter how hard we work to improve our reputation or increase our reliability, if patients perceive pharmaceutical companies as driven only by self-interest, it will be impossible to earn their trust.
How can we strengthen the bond of trust with our patients? 1) Continue to do outstanding research, innovate, and develop great products 2) Include patients in every facet of development from clinical trials to bringing a drug to market 3) Be transparent with outcomes and take responsibility when mistakes are made 4) Show patients we care by not treating them as a member of a disease state but rather as individuals, speaking to them in culturally appropriate language, and acknowledging their fears while nurturing their hopes.