New BBB Standards Reinforce Trust
When finances are tight, consumers not only need to pay closer attention to what they are spending money on, but also where they are spending their money. Not all businesses can be trusted to deliver on their promises. Given the current tough economic conditions, consumers can avoid making bad buying decisions by checking out businesses with the Better Business Bureau before they make their purchases.
BBB has recently updated its code of business practices and has developed a set of eight summarized “standards for trust” that provide a clear explanation of exactly how consumers can expect to be treated by a BBB Accredited Business – fairly and honestly in all circumstances.
The BBB “standards of trust” are:
Build Trust. Establish and maintain a positive track record in the marketplace.
Advertise Honestly. Adhere to established standards of advertising and selling.
Tell the Truth. Honestly represent products and services, including clear and adequate disclosures of all material terms.
Be Transparent. Openly identify the nature, location, and ownership of the business, and clearly disclose all policies, guarantees and procedures that bear on a customer’s decision to buy.
Honor Promises. Abide by all written agreements and verbal representations.
Be Responsive. Address marketplace disputes quickly, professionally, and in good faith.
Safeguard Privacy. Protect any data collected against mishandling and fraud, collect personal information only as needed, and respect the preferences of consumers regarding the use of their information.
Embody Integrity. Approach all business dealings, marketplace transactions and commitments with integrity.
BBB Standards for Trust and the BBB Code of Business Practices are the product of an intensive year-long review and evaluation process. Both are key aspects of BBB’s strategic plan implementation, which also includes a refreshed BBB brand featuring a new web site, enhanced web services and improved BBB Reliability Reports with easy-to-understand letter grade ratings for more than four million businesses nationwide.
The letter grades (A+ through F) represent BBB’s degree of confidence that the business is operating in a trustworthy manner and will make a good faith effort to resolve any customer concerns. Both BBB Accredited Businesses, as well as non-accredited businesses in BBB’s database are assigned a letter grade.
BBB’s ratings are based on standards and developed using objective information and verified incidences of a business’s behavior. In most cases, complaint history drives a business’s letter-grade rating but there are some other factors that will impact a business’s rating even if there have been no complaints, such as: how long the business has been operating, government actions, and advertising and licensing issues.
The combination of BBB Accreditation and the improved BBB Reliability Reports with letter-grade ratings provide a powerful and valuable resource for consumers. BBB is an unbiased non-profit organization that sets and upholds high standards for fair and honest business behavior so consumers have an unbiased source to guide them on matters of trust.
Nancy B. Cahalen is the president and CEO of the Worcester-based Better Business Bureau of Central New England Inc., which serves Central and Western Massachusetts and Northeast Connecticut. Contact BBB toll free at 866-566-9222 or on the web at cne.bbb.org.
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