Espresso of Innovation: Trust or Bust
By Dan West, Innovations Manager, Draftfcb UK
Hello and welcome to this week's Espresso of Innovation; the hottest news and strongest stories from the world of creativity and technology filtered into a quick shot of inspiration. This week, is your branda Karenor a Gretchen?
Historically, trust has been animportant social commodity and today, this is certainly the case for brands.Without trust how can you hope to be loved? According to theEdelman trust report there are five key areas that a brand must focus on to become trusted: engagement, integrity, products and services, purpose and operations. I wanted to take a deeper look at the technology playing a key part in each of these areas.
Social media has made direct interactions with consumers far easier, but because this also opens brands up for criticism how can you maintain trust? A great example comes from Walmart: in February 2013 they answered46.5% of the posts on their wall focusing on those with a negative sentiment and taking just 26 mins on average to reply. Even negative reviews help build trust as people are wary of thing’s beingtoo good to be true.
Mobile engagement is also a great way to generate new revenue. For example, AA’s newbreakdown app allows you to call out the AA when you need them for a small fee rather than paying an annual subscription.
It is common knowledge that people trust people (61%) more than they trust the ‘fat cats’ at the head of a business (43%). Therefore companies need to be open and honest about how they do business and give their employees a voice.Zappos Tweetwall is a great way of engaging customers by getting your staff to tweet about products they are passionate about. As these are real people like us we trust their recommendations more.
Products and Services
Whether you use pioneering new interfaces likeEyetribes’ new technology that allows a user to control a smartphone or tablet by what they look at or simply make bedtime a special event withinteractive storytelling on children’s pyjamas, product innovation creates trust as it shows you care about being a better partner for your consumers’ daily lives.
Nielson found 46% of global consumers are willing to pay extra for products and services from companies that have programs to help our fellow man and the environment. My shout outs for tech initiatives allowing businesses (and consumers) to operate with greater integrity includeIKEA’s solar energy pledge,Google andFacebook/Cleantech’s innovation bursaries, and ending world hunger with an InstagramFoodShareFilter.
People like companies with a proven track record of delivery and expertise, and trust brands that are favoured by many others. New York Life Insurance uses twitter and#NYLTips to allow people to ask their experts anything, including helping grieving children in schools. Foursquare has made it eveneasier to check in this week hoping to get more data to help companies prove popularity which in turn will improve people’s trust in a brand by seeing others go to their shops/bars/restaurants.
As our bespoke Trust Research from Draftfcb Brazil shows, trust is a universal emotion and no matter the geography, demographic or gender we all have the same trust triggers. We need to use technology intelligently to cover these five pillars, tap into emotional triggers and encourage customers to trust and love our brand.