A new study published by Edelman demonstrates the perils of omitting trust from branding discussions
Brands that strive to earn consumer trust are paid dividends in increased purchases, customer advocacy and loyalty, according to Edelman’s 2019 Trust Barometer Special Report. Building trust is essential, as 64% of those surveyed say their purchasing decisions are based on belief.
Released earlier this summer, the annual report studied the behavior and opinions of 16,000 people evenly distributed across eight countries, including the United States, the U.K., India and Japan. The survey was conducted online and via mobile, and data is represented across age, religion and gender categories.
The results of this report are unambiguous—81% say that their trust in a brand is a deal breaker or deciding factor in making a purchasing decision, and this number is evenly distributed among all countries. This number ranks higher than other categories that include good reviews (77%) and values (72%). Those who trust the brand are 28 points more likely to pay attention to their advertising, even though 74% say they utilize advertising-avoidance strategies, such as ad blockers or paying for streaming services.
Building brand trust cannot be overstated, as the perils of avoiding this aspect of your business are substantial. Of those surveyed, 53% believe every brand has a responsibility to be involved with at least one societal issue not affiliated with their business, and 56% think most brands are all talk and no action. Your reward for becoming a good corporate citizen is that a sizable amount of people will trust your brand more than the government to solve the country’s problems—almost half of those included in the study.
Learn more about how to build brand trust by reading the full survey here.
Photo courtesy of Unsplash.
Steve Heisler served as staff writer at the American Marketing Association. His work can be found in Rolling Stone, GQ, The A.V. Club and Chicago Sun-Times. He may be reached at steveheisler@gmail.com.