When examining trust, Deloitte found that when brands moved from segmenting based on traditional demographics to a focus on what people value, it created a stronger customer connection.
When a brand connects on a more human – a more humane – level, people are more open to trusting its intentions and believing that their needs are being addressed.
“By understanding people’s values,” writes Deloitte in its 2021 Global Marketing Trends report, “brands can ensure that the promises they make actually align to what their audiences care about most.”
And, of course, brands must then deliver on those promises.
“To be able to deliver on their promises and meet customers’ evolving value-based needs, brands need to align their intentions with their actions (or competency),” said Deloitte. “And all members of the C-suite – not just the CMO – need to come together to bring about this alignment.”
Deloitte identified four facets – or what they called “signals” – of brand behavior that can be used to measure trust and influence future behavior.
They are Humanity, Transparency, Capability, and Reliability.
By examining each of these facets and how they are used in their messaging and actions, brands can see where they have earned trust and where they need to improve.
Humanity
When brands demonstrate genuine caring for the experience and well-being of others:
- Customers are 1.6 times more likely to purchase from the brand
- Employees are 2.6 times more likely to feel motivated at work
Transparency
When brands demonstrate that they are openly sharing information, motives, and choices in plain language:
- Customers are 2.8 times more likely to continue purchasing from the brand – even after a data breach
- Employees are 1.7 times more likely to be satisfied with their compensation
Capability
When people believe a brand has the capability of delivering on its promises:
- Customers are 2.4 times more likely to be repeat purchasers
- Employees are 2.4 time more likely to show up to work on time
Reliability
When brands are routinely reliable:
- Customers are 2 times more likely to recommend the brand to a friend
- Employees are 1.7 times more likely to positively review their company on social media
The source for these findings is Deloitte’s 2021 Global Marketing Trends. You can find this report and other valuable content at Deloitte.com
To inform each chapter, Deloitte conducted two surveys.
The Global Marketing Trends Consumer Pulse Survey polled 2,447 global consumers, ages 18 and above, in April 2020. This survey was launched in the United States, the United Kingdom, Mexico, China, South Africa, Qatar, the United Arab Emirates, and the Kingdom of Saudi Arabia.
The Global Marketing Trends C-suite Survey polled 405 US C-suite executives from global companies in May 2020. This survey asked CMOs, CFOs, COOs, and CHROs their thoughts on a variety of topics related to their response to COVID-19.