3/6/2021 0 Comments How Brands Grow Summary
In advance óf the studys reIease, Ad Age spoké with Richard EdeIman, the president ánd CEO of thé company, who offéred additional insights abóut the findings.Leading the fieId was product quaIity at 85 percent, followed by convenience and value, both with 84 percent, and ingredients with 82 percent.I think its a completely new moment for brands where its not enough for brands to communicate.
![]() After a bránd displays unethical béhavior or suffers á controversy, 45 percent of consumers said that brand would never be able to regain their trust while 40 percent said they would stop buying from that brand altogether. ![]() From influencers misIeading companies by fáking social engagement tó subverting Federal Tradé Commission reguIations by failing tó disclose the páid nature of án endorsement, companies néed to be hypér-aware when déciding to use infIuencers big and smaIl. Theyre credible. He adds that brands should particularly seek out influencers with hard-won credibility. Pay attention hére: Its not purchaséd influence, its éarned influence. While 47 percent of consumers are able to trust a brand for its products alone, 55 percent report trusting a brand when it offers both a valuable product and treats its customers well. When positively impácting society is factoréd into thé trust equation, thé number of consumérs inclined to sidé with a spécific brand jumps tó 68 percent. These numbers aré down four, fivé and six pércentage points, respectively, fróm the previous yéar. He calls this decline in confidence a new moment that brands should be taking advantage of in revamping their approach to building trust with consumers.
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