Want your customers to trust you? Demonstrate that you trust THEM! This may seem counterintuitive, but there’s sound neuromarketing reasoning behind it. The concept revolves around that seemingly magical neurochemical, oxytocin, which is a key factor in forming trust relationships. Paul J. Zak, director of the Center for Neuroeconomics Studies at Claremont Graduate University and unofficial oxytocin evangelist, relates a story about how in his younger days he was the victim of a small-scale swindle. He now concludes that a key factor in getting him to fall for the con was that the swindler demonstrated that he trusted Zak.
When a credit card company assesses a fee on late payments, and then raises four-fold or more the interest rates it charges, it's not just realizing one of the primary sources of income for the entire industry.