BUILDING BRAND TRUST - INSIGHT INNOVATIONinsightinnovation.org/iiex-presentations/NA18/Scott.pdf ·...
Transcript of BUILDING BRAND TRUST - INSIGHT INNOVATIONinsightinnovation.org/iiex-presentations/NA18/Scott.pdf ·...
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IN AN OMNI-CHANNEL WORLDBUILDING BRAND TRUST
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MEDIA SCEPTICISM
DECLINING
DATA OVERLOAD
SOCIAL MEDIA
Why study trust now?
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The more trusted you are…
The more of a price premium you can charge
+10%
+13%
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ONFOCUS FEATURES
How to study brand trust
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Five factors to promote trust
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EXPERIENCE
Five factors to promote trust
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Only Positive:
6x
Mostly Positive:
5x
Mostly Negative:
-3x
To err is human, but being responsive to mistakes can help build brand trust
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“I don't think the difference [between the appeal of Zappos and the Amazon brand] is in the UI. It's in how we build a
personal connection, primarily on the phone. We’re actually experimenting with ways to get more people to call because
it’s such a valuable marketing and brand builder for us."
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EXPERIENCE
You only have so much leeway with mistakes –invest in mechanisms that truly are responsive to issues.
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CONSUMER VOICE
Five factors to promote trust
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3x
Operations and customer service are the foundation of trust marketing
Impact on Trust
ExpertReco
Online Reco
In-PersonReco
NoReco
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Consumer Voice
Investing in operations leads to good word of mouth for your brand. Leverage consumer voice and consumer credentials.
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TRANSPARENCY
Five factors to promote trust
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Being seen as a transparent brand is more important than being a long-term brand
Longevity
Transparency
2x
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Transparency
Don’t hide the negative, embrace it. Put it out front and not in the small print.
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OMNI-CHANNEL
Five factors to promote trust
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Online Only
In-Store Only
Omni-Channel
X
Impact on Trust
Omni-channel presence not only drives access, it drives reputation and trust
3x
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2020
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Omni-Channel
Encourage cross channel interaction. Move the consumer from your digital to physical and vis versa.
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ALIGNMENT
Five factors to promote trust
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Aligning values not only improves brand saliency, but also improves brand trust
Impact on Trust
Established BrandNo Causes
New BrandSupports Causes
Unaligned
New BrandSupports Local Causes
Aligned
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Alignment
Ask your consumers where your should put your support – be local and relevant.
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Know where you stand and price accordingly
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Invest in issue resolution – it matters
Always leverage consumer voice and credentials when you can
Don’t hide the negative, embrace it
Encourage omni-channel interaction
Be local and relevant with your causes
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THANK YOU!