The value of brand trust

Abstract

In the new era of marketing, the Relationship Era, dominated by highly-sceptical consumers who communicate displeasure quickly and broadly, brands must put a premium on creating trust with people. Real trust extends beyond simply keeping functional promises. Keeping promises results in high credibility, but real trust is based upon maintaining credibility and deepening two other factors: care and congruency. Developing this three-tiered trust gives the brand a more sustainable position with people, one that requires less marketing spend and results in greater loyalty. This paper defines these three trust-building factors, gives examples of how brands have used all three to create trust, and shows brands how certain mistakes are easy to recover from and how others are deadly. The paper also highlights the importance of brands staying true to their purposes and practising a transparent model of operation to reinforce authenticity and to cement sustainable, trust-based relationships with people.