IMF Business School · Masters in Marketing and Digital Communication Online or in person · Double degree · Up to 70% scholarship · Job and internship exchange Master in Digital Marketing Management – UPF-BSM Acquire specialized knowledge to manage the digital marketing of your organization. Trust is one of the key elements in the relationship between consumers and brands and one that has also increased in weight and importance over the last few years. As competition between brands grows fiercer and as the factors that determine consumers prefer one over another are becoming more personal and more emotional, embedding certain intangible values has become much more important. Confidence is one of them.
But it is not easy for brands and companies to Croatia Phone Number List maintain and earn trust. In general, the different studies have shown that citizens are increasingly distrustful. The recession of a few years ago had a notable impact on the confidence they had in institutions and caused, by contagion, that the confidence aroused by companies was also detrimental. In addition, the influence of millennials has complicated things significantly, since these consumers look for companies with principles and values and have imposed that criterion on the market. Companies are being asked for much more transparency and to act in a much clearer way. This means that they are forced to behave in a different way and also that they have to meet higher standards. Earning the trust of consumers is more difficult. And the coronavirus crisis has added a new factor in the battle for consumer confidence. Edelman has released a special edition of its barometer, in which it has asked consumers directly for confidence and the impact of the disease. The barometer has been carried out on a global sample, using consumers from various countries. And the bottom line is that if brands want to maintain consumer trust, they must act during the pandemic. Either they get involved in the times of the coronavirus, even losing money with it, or consumers will blacklist them. The Edelman Trust Barometer confirms what we already noted: the way companies behave now will impact the long-term relationship with their consumers. Consumers will remember who did what and make decisions accordingly.
Thus, according to the barometer data, 90% of consumers want brands to collaborate with public administrations. 50% make it clear that doing so is mandatory if they really want them to trust them. Doing things right is crucial. 52% of those surveyed recognize that those companies that protect people during these days will earn their trust. More brutal is the reaction against those who do not do things well: 71% of customers say that those companies that prioritize their own benefits during these days instead of the common good will lose their trust forever. What should they do How should they help? 89% of consumers believe they should create products to help during the crisis. That is, they should be adjusting their production lines to the needs of the moment and launch those things that are necessary. In Spain, the list of companies that have done it is already quite extensive, something that consumers are already taking into account.
Consumers expect companies to cover those problems or needs that the authorities are unable to address. In addition, 62% of those surveyed believe that their country will not be able to survive the debacle if companies do not collaborate. But the truth is that consumers not only expect brands and companies to do things for the common good and that, in one way or another, it benefits them as citizens. They also have high standards in their expectations in relation to company workforces.9 out of 10 respondents believe that companies should protect their workers, both their safety and well-being. They are the same number of citizens who believe that companies should be a kind of “moral compass” that helps people take seriously the threat posed by the virus.