It’s important to determine the impact of brand trust on consumer behaviour in your category, as this is likely an indicator of brand choice. Forethought believes there are three stages to understanding brand trust – defining, measuring and implementing – guiding you on where to invest your efforts and achieve organisational change.
Defining
We conduct primary qualitative research and/or synthesis of existing knowledge to uncover a list of attributes hypothesised to influence brand trust in your category. A hypothesised list of drivers lies beneath each of these three key pillars:
Measuring
We then collect consumer ratings on trust attributes through an online quantitative survey, modelling the hierarchy of importance. This delivers clarity on the specific areas you need to focus on to improve trustworthiness.
Implementing
Once you have the benchmark performance on trust drivers, you can address these through communications and operational alignment, and begin to build brand trust in your category.
THE EROSION OF TRUST: Surely THE HOTTEST topic in 2017 has been brands’ erosion of Consumer Trust.
Forethought has investigated Trust – considering the consequences to organisations of breaching or failing to achieve Trust – and how this impacts on the drivers of choice or purchase intention which flow into revenue, loyalty and market share. There is positive news for the Board, Exec, Marketers and Corp Affairs: the underpinnings of Trust, at a brand and category level, can be scientifically validated and analysed to clearly inform management action.
