Understanding Consumer Trust
Understanding consumer trust is complicated and difficult to assess. For example, a common approach is to ask whether consumers trust your brand or not, or how satisfied they are.
Subjective questions like this are difficult for consumers to answer consistently. Often, judgements are formed from a single, recent experience, and produce misleading or – at best – inconsistent results.
How Psychiatry Looks at Trust is a Better Approach
For the most commonly practiced psychotherapy, developmental psychology. establishing patient trust has been at its foundation for over 50 years. Developmental psychologists consider establishing patient trust crucial for treating many forms of psychological disorders.
The scientific study of how and why human beings change mentally over the course of their life.
Therapists have discovered establishing trust with their patients requires an assessment and understanding of three basic behaviors to form trusting relationships:
The Trust Framework – How Gordian Knot Helps you Understand Consumer Trust
Gordian Knot has partnered with a leading academic psychiatrist to translate key principles from psychiatry and develop a series of simple survey questions to assess trust. In combination with our proprietary technology, these create a reliable measure for trust without using the words “trust” or “satisfaction.”
A consumer with a high level of trust feels the brand is delivering on its brand promise.
Now that you understand the framework, the following examples illustrate how the components of trust can be measured:
Gordian Knot’s Unique Approach to Understanding Consumer Trust
First we combine comprehensive brand trust research with innovative predictive analytics to assess trust levels. Next, centered on the trust framework components, trust drivers are developed with qualitative and quantitative surveys.
RETAIN develops algorithms from sample data to predict trust and retention risk factors. Finally, the algorithms are applied based on complex behavioral patterns discovered in the data to establish consumer trust indices.
Together, these make up an ideal foundation to develop a solid understanding how your customers place trust in your brand. Accurately assessing and understanding the trust consumer’s place in your brand has never been more important.
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