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The Value of Trust in a Brand

11/10/2022
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Brand trust has a direct impact on your bottom line. Consumers have an abundance of information and products to choose from today. To keep your customers coming back, you need to prove you have their best interest in mind and maintain clear and consistent messaging. 

54% of consumers stated they only buy from companies and brands that they trust completely 

Source: Euromonitor International Voice of the Consumer: Lifestyles Survey, 2022 

Global advertising eclipsed USD750 billion in 2021, according to Euromonitor’s Passport Industrial data. Investing in opportunities to convey reliable, honest and actional information about your product is critical to distinguish your brand.  

While consumer trust can’t be built overnight, there are actionable steps to take now to elevate loyalty and drive revenue over time.  

Four Ways to Build Brand Trust

1. Be informative, honest and transparent

Provide adequate information to enable consumers to make better purchasing decisions. Your product marketing should never be misleading. And it should be consistent across all channels. If you want to gain your customer’s trust, you must be honest.  

Be authentic and show your human side. Make sure your customers can engage with your brand on a personal level. Getting their feedback can make them feel more appreciated and deepens their connection with your business. Remember: the customer should be at the centre of your marketing strategy. Sharing your brand values will attract the right people to your products.   

2. Provide value 

The perceived value of your brand plays a major role in a customer’s decision. Highlighting your unique value adds will distinguish your brand from competitors.  

One strategy is to compare your product’s efficacy against the leading brand. This helps promote your brand’s position in the market without bringing the name of your competitor to attention.  

You can also focus on a niche feature which separates your brand from other players. Then, communicate this winning attribute to consumers across your website, ads, packaging and other collateral.  

Sustainability builds credibility, and it’s in the spotlight right now. Over 65% of professionals said their company planned to launch products with sustainable packaging. While 69% stated environmentally friendly options were being developed. Google Maps, for example, now shares the most eco-friendly routes to help consumers save time and money.  

Your core values should be reflected across your entire business, from the products you sell to how you treat your employees to operational transparency. By upholding your brand principles, you will attract customers and build brand affinity.  

3. Influence with endorsements 

Third-party endorsements can validate advertising claims and earn trust. But make sure it stays true to your voice.  

Let’s face it. You could have a high-quality product with the right marketing strategy. But if your competitors are promoting the same attributes across the same channels, it will get lost in the noise. A statement like “best” or “most loved” could be seen as marketing fluff. Using third-party claims brings unbiased proof that your brand is credible and leaves a bigger impression on potential customers.  

53% of consumers found government or non-government expert organisations very or extremely trustworthy. While 48% and 42% of consumers said the company websites and brand social media accounts are trustworthy, respectively.  

Source: Euromonitor International Voice of the Consumer: Lifestyles Survey, 2021   

Getting legitimate buyer testimonials and reviews are also some of the most reliable sources of content. People trust people. Social proof is a critical component of trust building and enhances the brand-customer relationship. These can act as mini case studies to validate your position in the market 

4. Tailor your marketing 

Localisation is also crucial to connecting with your target audience. When moving into a new market, your advertising must appeal to locals. While the marketing claim may be the same across markets, you should build partnerships with companies that understand both the local dialect and the nuances of market research. These parties will translate the claims to read well in the eyes of native speakers and be factually aligned with the logic and facts behind the claim. 

Learn more on how to validate your marketing claims and stand out from the competition.  

 

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