Repaired trust adds brand power, value
Consumers may try a brand once or twice but they won’t stay with it if they don’t trust it. A brand's good behavior over time builds trust. Once the trust reservoir is filled, consumers are more likely to recommend a brand, assuming that its current behavior matches its promise.
Brands can lose trust. And, most important, brands can restore trust. The possibility of restoring trust became important as brands recovered from the global financial crisis. Not only is it possible to restore
trust, but greater trust also correlates with greater Brand Value, Brand Power and differentiation.
A comparison between the 10 BrandZTM Global Top 100 brands that improved most in trust over the past decade and 10 brands that declined most in trust revealed that the trust improvers significantly outperformed the trust decliners in the growth of Brand Value, Brand Power and Brand Difference.
The 10 trust improvers came from many categories and include brands such as Apple and Domino’s Pizza. Not surprisingly, global banks dominate the trust decliner group.
Trust impacts Brand Value and Brand Power
Changes in trust correlate with changes in Brand Value, Brand Power and Brand Difference.
It’s possible to repair trust. And repaired trust makes a big difference to Brand Value, Brand Power and Difference. Conversely, when trust erodes – and is not repaired – both Brand Value and Brand Power are negatively impacted.