How to retain trust in your brand
The 2013 Edelman Trust Barometer was released this week. MarketingWeek reports that the global survey of consumer trust in institutions, industries, and leaders found trust in business is improving but remains fragile. According to Richard Edelman, CEO of Edelman Group, smart companies will invest more in their corporate brand, the values of which will then extend to their products. Robert Shrimsley, managing editor of the FT.com, says that the overall lack of trust provides a "huge opportunity" for businesses that can communicate they are different.
In a market cluttered with alternatives where consumers have shaky trust in business, it's essential to have a distinctive brand that customers can build a relationship with. Your brand communicates the values of your company and why consumers should choose your products, so it needs to be cohesive, consistent, and well communicated. It must also be integrated into your business practices so that it is reflected in the customer experience. When your brand values are clearly expressed and delivered on, consumers will know they can trust you.