Ongoing events in the news highlight the fragility of brand trust, and the difficulty of recovering from the consequences one negative event can create for a brand. For a brand to succeed, it must develop a rigorous understanding of consumer trust components, consistently measure its performance against these components, account for the inherent biases in human behavior, and then unceasingly take corrective actions if consumer perceptions of the brand are at odds with what the company desires.
People want to do business with brands that reflect and support their values and interests – with brands they trust – and because of the vast choices available to most consumers today, they will avoid those that don’t. It is critical that a brand establish a new framework for measuring consumer trust.
Many companies are missing the most important components of brand trust making it difficult to fully realize the long-lasting effects of positive brand trust (repeat purchase and retention). Using a new analytical framework founded in developmental Psychology, and developed by Gordian Knot Analytics Group, brands can create a highly accurate and repeatable trust metric that truthfully portrays the depth and nature of consumer trust.
To learn more about the Gordian Knot Brand Trust Framework and download the complete White Paper, register for the download below: