Volume 9 No. 3: Why is brand trust important?
A brand's trustworthiness is an increasingly important factor in consumers' purchase decisions.
Consumers rank brand trust a top priority when considering a new brand purchase (53%) or becoming a loyal customer (49%).
How to build brand trust and why it matters.
Each week, we break down another marketing trend so you can skip having a breakdown.
Despite its importance, consumer trust is on the decline, especially when involving advertising. To combat this trend, brands must actively build and maintain brand trust. Choosing different media channels will help improve (or deteriorate) that trust.
There is a distinguishing difference between offline (TV, newspaper, radio) and online (paid search, social media) channels. According to Kantar’s study, consumers trust offline channels at 20%, compared to only 11% for online channels.
But why do online channels have low credibility?
- Ad bombardment. WARC defines bombardment as a key driver of mistrust, which results in wasted spend, ad avoidance, and blocking. Advertisers should control ad frequency to avoid irritating their audience.
- Ad fraud. Ad fraud can also result in wasted advertising dollars. Partner with verified vendors and use bot management systems to help regulate fraud.
- Lack of customer relationships. Strengthen consumer connections through empathetic creative that aligns with your brand. Consumers are more willing to shop with brands that invest in relationships with their customers.
On the other hand, consumers trust brands that use traditional channels like TV advertising because of its accountability, high investment requirements, and stringent industry regulations. But many advertisers who want to build their reputation can benefit from using both online and offline channels in their media mix.
Key Takeaway: It is essential for advertisers to use media channels that will communicate and maintain their trustworthiness.
The Growth Lab
Question: Where do you start when looking for creative inspiration?
We ask an experienced group of business leaders, marketers and statisticians about strategies for success.
Answer: "You know that delightful space between asleep and awake? That’s where great ideas lie. That’s what I call the Crock Pot®️. It’s all about the ingredients that go in—the creative inspiration. It’s unmeasured parts of pop culture, human truths and emotion. Hopefully, it’s at least edible and with any luck, James Beard-grade delicious."
— Deb Hagan, VP Group Creative Director
Deb’s known for exploring new ideas and telling compelling stories. Outside of her creative work, she often spends time on the water, kayaking or boating.
Follow: Tim Peterson, Sr. Media Editor at Digiday
Here we celebrate books, podcasts, videos, and influencers that are actively pushing marketing into the future.
Tim Peterson started his career at the Santa Monica Observer as a staff writer and moved his way up to marketing news outlets like Adweek, AdAge, Marketing Week, and now Digiday. His articles cover topics like digital marketing and media, B2B advertising, and the future of digital and TV advertising.
Our favorite insight? Peterson explains that subscription streaming platforms, like Netflix and Hulu, may need to reevaluate their prices as people tighten their budgets due to inflation.
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