Changes in the way people think about key social issues is driving more onus on trust. According to Edelman's 2020 Trust Barometer report, fewer than 50% of people now trust that their institutions will do what's right. As reliance on eCommerce grows, consumers need to know that they're going to get what they pay for online. All this will impact on your brand and marketing approach - but how should it change your strategy? The vibrant #SMTLive community just shared some real-world insights on the subject:
The "Why" is considered to be a brand's most valuable asset. Brands with a clear mission offer their consumers a clear reason to engage. Many brands on the list also exhibited relatability and consistency.
Brands can no longer get away with a one-off donation or gesture to a good cause. Meaningful actions need to be in line with what people now expect to see: a consistent and long-term commitment from brands to a cause that makes sense.
Increasing Trust can be a long haul, especially if you are a relatively new brand. The website asked #SMTLive participants whether they've ever trusted a brand shortly after they discovered them on social media, and what contributed to the sense of trustworthiness.