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]
