Trust is a shaky proposition right now. Trust in media institutions (fake news), business (privacy breaches, unsafe and unsustainable practices) and government is consistently low. However, people are willing to trust brands that solve social problems. So what drives trust and why might we want or need it?
Trust is so much more than a want – it’s an imperative for brands. Research tells us that trust is just as important as price in driving purchase decisions and is a deciding factor for 4 out of 5 consumers.
Ipsos global research breaks trust down into 8 categories. In order of importance, a company is trustworthy if it:
- Is reliable/keeps its promises
- Does what it does with the best of intentions
- Behaves responsibly
- Would not try and take advantage of you if it could
- Shares your values
- Open and transparent about what it does
- Is good at what it does
- Well-led
In other words, do what you say you’re going to do, and do it well. Simple really!
Know who does it really well? Fisher & Paykel and Delonghi – two clients we’re incredibly proud to call our own, and two that have been highlighted as Australia’s most trusted brands in a recent poll of 3,000 Australians.
