Why do customers trust brands?
The top reasons are all about product or service quality, according to the latest edition of the Edelman Trust Barometer.
- It delivers good quality products or services
- The brand gets good ratings and reviews
- It charges a fair price
- It has always treated me and others well
Farther down the list showed concerns about social causes and political causes. While smaller numbers, they are still significant, especially for young adults.
Why is trusting a brand they buy important?
Here, the societal-focused concerns showed a more prominent result. According to the annual Edelman trust barometer, “belief-driven buyers” are now the new normal.
69% of U.S. respondents said this was the main reason. Fake news and false information online played a role in why it’s important they trust brands as did consumers that said they want brands to express their values.
Does it Impact Purchase Decisions?
You bet it does. Would you buy from a brand you don’t trust? What’s key here is that brand trust promotes loyalty. 82% of U.S. consumers surveyed report they will continue to buy brands they trust even if something else comes along that’s trendy.
Brand trusts ranks as a top buying consideration and can be a deal breaker for consumers.
Consumers also say they will be brand advocates and recommend the brand if asked (78% of consumers).
Marketing Charts points out another key finding:
If someone trusts your brand, they are more attentive and receptive to advertising messages. 48% say they pay attention to ads from brands (even if they don’t trust them), but 76% say they pay attention when they have long-term trust built up.