Brands + Trust: What’s stronger – hate or love? (Consumerology)

Marketers, you have work to do

Marketers, you have work to do.

Trust among consumers has headed in the wrong direction over the past five years. Marketers take special note, the slide is more pronounced among women, whom we all know are the prime decision-makers in household spending: 54% are less trusting of companies versus 42% among men, according to the latest research.

The good news is the slide isn’t deep and younger consumers are more likely to cut you some slack. In fact, most consumers still seem to like your brands and actually seem to be holding onto an innate need to love them. They want to buy as much as possible from brands they trust, according to the latest Consumerology report commissioned by Bensimon Byrne. To put the slide in perspective, fewer than one in 10 say they are “much” less trusting than they were five years ago, and a healthy 40% report they are “more” trusting of brands.

“People really want to trust brands, ” says David Herle, principal partner of The Gandalf Group, which conducted the research and prepared the report. “Virtually all consumers agree that they wish companies they patronize were as loyal back to them as they are to the brands.”

That kind of behaviour probably won’t surprise those wise marketers who have always believed that customers love loyalty and trust the most and it’s simply the brands that keep finding fresh ways to turn them off. “The Consumerology Report 21: Trust” findings run deeper, however, to explore what drives the consumer trust and how those drivers vary by gender, age and salary.

Click to expand

Methodology: The report is based on a survey of 1,513 Canadians proportionate in makeup to the broader population, in English and French, between Feb. 25 and March 3. It has a margin of error of +- 2.5% 19 times out of 20.

This story originally appeared in the May 2014 issue of Marketing, available to subscribers and on the iPad newsstand.

Consumer Articles

Are outlets a new revenue stream or brand suicide?

How many off-price outlet centres can we build before featured brands are tarnished?

How VW gets beyond TV to connect with drivers

Can an industry built on TV advertising find relevance online?

Mobile wallet Suretap unveils big expansion

Bell, Telus and their sub-brands join Rogers at the table

New study says Tim Hortons is Canada’s most trusted brand

University of Victoria sees both emotional and functional connections with consumers

Executive Roundtable: Canada’s changing consumer

Retail and brand leaders discuss how to succeed in an omnichannel marketplace

Dads spend more, are more brand loyal than moms (survey)

Y&R study shows that dads represent a massive untapped market

Air Miles goes after Millennials

Partnership with Live Nation gives concert perks to younger collectors

Consumers divided on ‘discount’ claims (survey)

The rise of the 'strategic consumer' exposes companies' pricing policies

How to transform the telco business (Q&A)

IBM's Bob Fox on what it will take to shake up a problematic sector