What Brand Trust Is And How It Builds Consumer Confidence

What's up brand Builder 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 [Music]

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