What is brand trust?
The amount of respect or loyalty that a customer has for your brand is what defines brand trust. This could be due to previous dealings that they have had with you, but it can also be developed with customers that you haven’t yet sold to.
This is because brand trust is also built on whether they believe that you deliver on your promises, and so it can be reliant on public perception and not just first-hand experiences.
This is why marketing your business with brand trust in mind is so important. It can give you the ability to develop that level of trust with a customer that has yet to buy from you, and it can be a major factor in leading them to your door when they are making buying decisions.
If they believe that you will keep to your promises, then it can give you an edge over the competition.
Marketing trends
The four factors of trust are considered to be humanity, transparency, capability and reliability, and so there are many marketing trends that are now trying to maximise these elements.
For example, many consumers find that they lose trust in brands that they can no longer afford, which is why there is a regular switch of energy providers or supermarkets. The general feeling by the customer is that they are a victim of profiteering, so it is important for a brand to show that they understand the position of the consumer and be honest about their situation in order to continue to hold onto the trust they have already earned.
In consumer research it has been found that humanity and transparency has often been ranked as more important than capability, which shows exactly how much perception plays a part in buying decisions.
This is why companies are now trying to show the good work that they do, why they are great employers and how they can help to make lives better as much as they talk about their own products and services.
As we currently find ourselves in a cost-of-living crisis that shows no signs of easing, it is reasonable to expect that this will continue to be a trend in marketing for some time to come. Businesses will compete based on their human side to win business, and there are likely to be far more examples of them putting themselves in the shoes of the consumer to show that they understand the everyday challenges that are faced.
Technology-driven trends
One of the biggest changes in technology that we have seen for many years has been the incredible rise of AI. Whilst the jury is still out for many as to whether this is a good thing or not, it is impossible to ignore its increasing dominance in the world of marketing.
Technology such as machine learning has transformed the way that businesses are engaging with their customer base, as they start to learn more about them.
This incredible technology is now arming us with more data than ever before, as it analyses data from various touchpoints to give us greater insight into the consumer journey and what impacts on this. One thing it can do is provide a personalised customer experience by understanding individual preferences and then tailoring marketing around this. It can be a huge step in building brand trust, as each customer will start to feel as though they are being spoken to individually and that their needs are understood.
Brand transparency
Consumers are now savvier than ever before, which means bright lights and a pretty face are never enough to win someone over. This has led to an increased trend in brand transparency, as it is the biggest bridge to building brand trust.
The consumer has a plethora of information at their fingertips these days, so brands need to be conscious of their honesty, both in terms of their products and the way in which their business operates.
Marketing efforts now need to show your brand to be open, genuine and accessible to win over trust.
It is therefore necessary to show the company ethos, proof behind any claims and the values of the business to appear transparent and earn the trust that is so important.
Numerous surveys now show that brand trust is one of the biggest deciding factors in purchasing, so it is not something that any brand can afford to ignore.
At Koobr, we have spent years building trust with our clients because of the terrific job we do, the service our amazing team offers and the fact that we are always open and honest in our plans and assessments.
We can help your brand to build trust with your customer base too, so give one of our friendly and professional team a call!
