What's up brand builders Stephen Houraghan here at BrandMasterAcademy.com and in this
video you're going to learn what brand trust is and how it builds consumer confidence so you
can understand how our primitive bias towards confidence and belief is critical for modern
purchasing decisions and brand loyalty they look building trust is vital to any brand strategy for
all our complexities we as humans were pretty simple we've survived millions of years because
we've learned to cooperate in tribes in Social Circles and the core of all of this is trust
it's part of our psychology to choose who we interact with based on trust levels we choose
to talk to to confide in and to share our time with people who we trust and we avoid people we
believe who are inauthentic or untrustworthy we apply the same process to our buying behaviors as
well consumers prefer to interact with brands that they trust making brand trust a hugely important
differentiator in the market Market when it comes to that critical purchasing decision consumers
trust is a fundamental decision-making Factor the few brands have the luxury of bypassing therefore
building consumer trust and subsequently a reputation of trustworthiness enhances brand
Equity market share and ultimately revenue or profits now before I dive into how to build
brand trust let's define the concept A little bit better so brand trust is the measure of the
extent customers believe a brand will deliver on its brand promises if a brand consistently meets
the target audience's expectations trust in the brand grows increasingly we expect modern Brands
to be true to themselves meaning that brand values clearly influence all brand Behavior if a brand
presents a consistent customer experience that supports its values the audience perceives the
brand to be authentic therefore brand authenticity is an important factor within brand trust and
again again it's helpful to humanize Brands to understand the concept of brand trust just like
with humans We Trust brands that seem to know what they're doing do what they say they will
and don't lie to us or let us down brands that seem incompetent and break promises damage the
relationship they have built with consumers now look this is rocket science here we all know what
builds and breaks trust with the people around us it's no different with Brands either elements
of brand experience that affect trust include customer satisfaction with the Brand's product
or service the perception that the product or service has in the market is it worth it the
social proof and testimonials quality and speed of customer service consistency of the customer
experience through all touch points protection of personal data advocacy or how the brand comments
on social media now look these are all examples of elements that build brand trust but ultimately it
is the customers experience with that brand and how that experience makes them feel that builds
trust over time so why does brand trust matter why is it so important well having high brand trust
can convince potential buyers that your brand is the best option amongst many in the market in the
modern Marketplace today brandtrust matters more than ever because there are so many Brands out
there in the market and consumers are looking for brands that they can trust that's because
of several factors coming together to elevate the importance of trust number one trust is
a competitive Advantage with so many Brands out there it is difficult to retain Customer Loyalty
customers who encounter a brand experience that doesn't live up to their expectations can simply
choose an alternative provider in a competitive market if a brand behaves in a way that conflicts
with their perceived brand image they'll lose brand Equity along with its audience as well
now this is particularly true with Gen zirs and Millennials who are more perceptive of mixed
messaging when it comes to Brands they are very aware of what messages Brands put out there into
the marketplace and consciously or subconsciously they are looking for contradictions of that
message because they're looking for reasons to not trust the brand because that is how our primitive
brains work if a brand disappoints them consumers will simply head elsewhere now on the flip side of
this brands that build trust over time over long periods through delivering on their promised time
and again tend to get a little bit more leeway if there is a one-off mistake loyal customers
are more forgiving to brands that they trust if they do have a bad experience or a disappointing
experience with a trusted brand loyal customers see it as an exception to the rule and are
prepared to forgive those one-off mistakes the more willing to give a brand that has build trust
another chance to rebuild its reputation but make no mistake filming mods shame on you fill me twice
We Can't Get Fooled Again Branch trust is difficult to earn but the brand loyalty that
you get in return for that trust means a one-off mistake may not be so damaging to your brand
number two trust encourages word of math marketing consumers today expect a smooth customer
experience that goes above and beyond what used to be the norm and with social media as a vehicle for
word of math marketing Brands get punished with terrible reviews if their customer service is
simply not up to scratch customer buying habits have changed with social media consumers will
look to social proof and testimonials to gauge whether to trust a brand or its products we tend
to be a lot more research minded today and that's because that research is so easily available those
reviews are so easily available it doesn't take us to much to jump online and to have a look what
other people are saying about a brand that we are considering we tend to believe that if it's good
enough for others and other people are happy with their purchases and they've had a good experience
then we are going to have a good experience as well while negative reviews can damage trust
levels positive reviews on review websites they really do work to entice potential customers by
building a picture of a trusted brand that they will be able to trust with their money and that's
why brands should be developing trusted customer relationships as a key element of their brand and
marketing strategy if you're able to build that trust with your customers they're far
more likely to choose you not just once but time and again number three distrust is the
status quo and trust is rare according to the 2022 Edelman trust barometer consumer trust
is at an all-time low the report says distrust is now society's default position their market
research points to the damaging effect of the pandemic with distrust of the government and
the media to unprecedented levels than they've ever been before from a branding perspective
what does this all mean well what's important is to realize that consumers now look to businesses
for leadership because they don't trust the government the way they used to they don't
trust political leaders the way they used to either the report states that consumers are
increasingly drawn to companies that take a stand they choose to purchase from businesses
that align with their political or their social beliefs the difference is that consumers actually
trust that Brands will walk the walk with their brand values because if they don't they'll take
their business elsewhere billing brand trust by embedding brand values into everything that you
do as a brand whether it's business actions products and services or marketing campaigns
it will help to show that you're a company with police and you're willing to advocate for them now
of course this stance will resonate with your target audience if of course they share those
same beliefs and again building brand trust is not about getting a one-off purchase it's
about loyalty and advocacy it's about building a real relationship with that consumer so they they
purchase once and then come back time and again and not only come back time and again themselves
but to bring their friends and family along with them building a trusting relationship with
consumers leads to Brand loyalty if you show up with the same excellent brand experience through
all channels you show the customer that you are Dependable customers know what they're getting
every single time they do business with you if that experience resonates with the audience then
you build an emotional connection which brand loyalty is based on so why is brand loyalty so
valuable for brands well loyal customers will buy a Brand's product even if it isn't the cheapest
they'll often exclusively buy from a brand instead of its competitors they're interested
in new products from those Brands they spread your message for you increasing brand awareness
they're happy to engage with your marketing campaigns and they will defend your Brand's
reputation against criticism to a point so it goes without saying that shaping the perception
of your brand as a trust worthy brand in your audience's mind set you up for Success now look
the concept of branchross feels so familiar because it feeds the idea that the way we
connect with people and brands are ultimately the same we look for familiarity and commonalities to
resonate before subconsciously analyzing whether or not this is someone we wouldn't mind showing
up again in our lives way Brands own trust is the same way people earn trust we don't need to
over complicate this be genuine display who you are so they can identify commonalities and then
follow through relentlessly on doing what you say you're going to do that's how you earn brand trust
increase consumer confidence in your brand and ultimately increase customers sales and revenues
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