Trust is the foundation of all marketing. After all, if consumers don’t trust your brand enough to buy what you’re selling, why would they even consider buying from you? But today’s consumer is increasingly skeptical of brands and their messages, making it harder than ever for marketers to build trust with consumers. In fact, according to a recent study by Cone Communications and Edelman Berland, “The erosion of trust in advertising has led many people to think that advertisers are trying to manipulate them by creating false impressions about products.”
It’s getting harder and harder to build trust
In today’s world, trust is more important than ever. And it’s getting harder and harder to build trust with consumers.
Consumers are becoming more skeptical about the information provided in advertising and what brands say about themselves. This has led to a widening “trust gap” between consumers and businesses. The question of how you can build trust with your customers becomes more urgent than ever before. Not just because they may share less on social media but because they demand more from brands for their loyalty or advocacy. So, if you don’t have that substance behind your brand story, you will be fighting an uphill battle against competitors who do.
The loss of trust is affecting marketers’ ability to reach consumers
Trust is a key factor in consumer decision-making, and it’s the foundation of a successful relationship between brands and customers, according to a recent survey from the Interactive Advertising Bureau (IAB). The IAB found that 55 percent of consumers said knowing what information companies collected about them was vital. About one-third said they would be more likely to buy products if they trusted the company, while another third said they would not be as likely to do so if there was no data collection or transparency.
Trust is built on transparency, honesty, and consistency. Trust also depends on competence—the ability to perform as expected under certain circumstances—and reliability—having sufficient resources at hand when needed.
Consumers want to know what you stand for
Consumers want to know what you stand for. They want to know that you are honest and trustworthy, that you are transparent and not trying to manipulate them. They won’t buy from your brand if they can’t trust you.
This means that being honest is one of the most important things in digital marketing today–if not the most important thing of all.
Consumers are more skeptical
More than half (55%) of consumers are skeptical about the information that brands provide in advertising, which is on top of their skepticism about what brands say. It seems that the only thing consumers trust more than they distrust themselves is that 34% trust their judgment over others’ when making a purchase decision.
This means marketers must be extra careful with their messaging and how they present themselves online. And while they may try to convince you that many things have changed since the last time you bought something from them—their prices have gone up or down, for example—it’s important not to allow yourself to be swayed by marketing tricks like these (especially if you’re paying full price).
Marketers need to take responsibility for building trust
You need to build trust in your brand and avoid branding mistakes as a marketer. If people don’t trust you, they won’t listen to what you have to say. If they don’t listen, then your marketing efforts are worthless.
The best way to build trust? Be transparent with your audience through honesty and openness—and don’t just tell them what they want to hear; tell them what they need (and even sometimes what they don’t want to hear).
We are in the middle of a trust crisis, but it’s not too late to turn things around. Trust-building is not something you do once and forget about; it needs constant attention, and marketers must always stay on top of this issue.