We are all clear that the greater the trust in a company, the greater our inclination to buy its products. Therefore, The role of trust is key in all aspects of marketing and phases of the purchasing process. It’s something we’ve been thinking about for a long time. I have talked about it on several occasions in this blog. Therefore, To highlight some of them: trust as a sales tool , what motivates us to buy a product? (where I begin to break down its components), or already in 2011 this first approach with the eight components of online trust . The problem with trust is that it is a difficult concept to quantify. We know that it is the basis and that its effects are very positive, Therefore, but what is it composed applications of brand purpose in a marketing strategy . Its role as a reference in the
The importance of trust for a brand
It has always been something very important, but given the current context of instability after the strongest part of COVID, the war in Ukraine, etc. Its role is increasingly significant. If we take it to marketing,Therefore, what role does brand trust play in the purchasing process? According to the 2020 edelman global barometer , it is the second most important factor after price . 53 % of those surveyed declared this (the price obtained Therefore, 64% support). Effects of trust on company results It has a direct effect on sales: as I just mentioned, it is the second most important factor after price. Accelerates sales: one in three industry email list customersTherefore, has a high level of trust in the brand. According to more recent data from Edelman, which I have yet to confirm, trust leads to a 14% increase in sales . Build customer loyalty: 75% of customers who trust a branTherefore, d would only buy products from this company.
Components of trust in a brand
Edelman’s approach seems to me to be another Therefore, twist to the approaches we have been making forTherefore, years. It could be done another way, sure. But if this classification comes from so many yearsTherefore, of trust surveys, it gives me a lot of confidence. What is trust composed of? Ability : functional capacity. Is she good at Phone Number SG what she does? Is she competent? Therefore, Dependability : transactional trust. Does the brand keep its promises? Can it be trusted? Integrity : moral and ethical trust. Is the brand honest? Purpose (Brand Purpose): social and environmental trust. Is the brand trying to have a positive impact on society? Self (I, oneself): personal confidence.Therefore, Is it relevant to the audience?