With the plethora of brands now competing for shelf and mind space across industries, it is common to see many of them being branded as ‘fake’. But this also provides a golden opportunity for the truly genuine brands to cement their place in the hearts of the people. Four critical components go into creating brand trust. These are- history, capability, alignment and transparency. Certain steps have been suggested post a study on how brands can build trust across these components. First of all, the product must actually deliver what it promises and claims on packing labels. A lot of brands confuse accessibility for availability. So, while brands make themselves available, it is in their own terms. Consumers on the other hand wish to communicate with the brands, which will only happen once they are in access. The business rules created must be made keeping in mind customer needs. In case of any failure, the market is more kind to brands that acknowledge the mistake, and take accountability. In fact, for the truly trustworthy brands, crises are moments where they can really reach out and convince to put things right.  A community of followers and influencers must be developed and further leverage. These followers will then be the organic sources for digital marketing on social media channels. Trusted brands also do not stop at innovations, and create values which will pave the way forward. Beyond competitive advantage, the top brands strive towards an emotional difference.

Source:https://www.brandingstrategyinsider.com/2017/07/8-pillars-for-building-trusted-brands.html#.WYnbnoiGNPY

Uploaded Date:27 October 2017