Brands Need Consumer Trust to Pave the Way Forward
Trust is something that is in short supply and high demand these days. Cultivating consumer trust is vital for brands, and those willing to focus on that during periods of high uncertainty are taking advantage of a valuable opportunity. Alter Agents Marketing Communications Manager Clayton Southerly discusses this issue and more in his new column for AdvertisingWeek360, titled “Repairing Consumer Trust is the Only Way Forward.”
There’s a Trust Vacuum
He cited some of the insights from our year-long Facing Fear research series on consumer anxiety that show American trust in individuals, government and other institutions is plummeting, and they are looking to businesses to “fill the vacuum left as social and institutional norms shift and fail” when it comes to trust and confidence.
The article goes on to cover how brands and marketers can use this as an opportunity, while also doing the right thing. He writes, “building back consumer trust is in everyone’s interest. It’s good for society, it’s good for democracy, and it’s very good for brands and their bottom lines.” Brands can start to make strides in this direction by being authentic, reassuring consumers, and be openly honest in all communications.
Finding Common Cause by Understanding Consumers
In order to find out how to go about this, a solid understanding of brand audiences is vital. Basing a plan on well-rounded consumer insights can help address specific audience needs, examine existing business practices and objectives, and provide a basis for prioritizing the right issues and actions.
It’s going to take everyone working together to build trust out of the chaos of the past year. Businesses can “be part of the recovery” by being proactive, candid and building true partnerships with both external and internal audiences. By communicating the right messages, and taking action on the issues that matter, consumer trust will follow – plus the building of “a good, solid, trusted brand while we’re at it.”
Our Facing Fear Research Series
Drawing on world-class analysis from researchers at Alter Agents and commentary by thought leaders in economics, political science, and psychology, this reporting series is a must-read to understand the consumer mindset entering the second year of the pandemic.
Facing Fear: Understanding Anxious Consumers
Facing Fear: Consumer Anxiety in 2020
Facing Fear: Overcoming Consumer Anxiety
Interested in having thoughtful research like this conducted to answer your business challenges?
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