Towards earning brand trust - the brand building framework in action

Duncan Daines, Senior Client Director

March, 2007
Trust

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new or Trusted

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 excellent value

quality strong image

Trust
understanding social responsibility
consumer needs

Source: Readers Digest, Trusted Brands survey ‘07

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My trust equation

Expectation Delivery

Promise /
reputation
Relative
risk + Relative
experience
Longevity of
relationship

=
Trust

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 Trust is a driver of purchase
Main reasons people will not
Don’t know enough about
their products/services 19 consider products/services ) by
those who will
Don’t know enough about the not consider:
company 17
US, ReputationZ data, February 2007
Their products/services are
overpriced 19
Their products/services are
underpriced 2

Don’t trust the company 13

Don’t like the company’s 10
ethics/working practises
Company has a poor reputation
8
Company’s services/products are 8
poor quality

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 Rewarding those that manage it
The most trusted brands in Russia over the last 6 years

Mobile handsets Nokia

Camera Kodak
Holiday company Neva
Bank Sberbank
Credit card Visa
PC Samsung / IBM
Kitchen appliances Bosch (‘06-’01)
ISP MTU

Source: Readers Digest, Trusted Brands Survey, Russia ‘07-’01

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Trustworthy celebrities? Trustworthy celebrities

Alina Kabaeva
Leonid Parfenov
Pavel Bure
DDT
Egor Titov
Marat Safin
Alla Pugacheva
Nikolay Fomenko
Elena Berezhnaya
Dmitry Dibrov
Tanya Bulanova
Diskoteka Avariya
Gluk`OZA
Blestyaschiye - pop-group
T.A.T.U. - pop-group
Philipp Kirkorov

Source: BAV data, Russia, all adults, 2005

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 But being ‘trusted’ is no defense
Airlines have previously traded heavily on trust, but now
experience is high and risk is low

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Source: Readers Digest, Trusted Brands survey UK ‘07

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“Ladies and Gentlemen, climate change is a reality and we
(BP) are partly responsible… The challenge for us all is to find
ways to transcend what appears to be a harsh trade-off
between the desire for economic growth and rising living
standards on the one hand and the equally strong desire for a
clean environment on the other”

Lord Browne, CEO, BP

1997

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“Conceptually, this is brilliant though… an unique and powerful way to educate, encourage,
and demonstrate what you can do when you think green. They have worked in everything
from a green roof on the bathroom, farmed wood, motion sensor lights, solar panels,
recycled glass in concrete floors, led lighting, recycling bins, and far more…”

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 BP in the US
100 BP vs sector Good Value
80 Gaining In Popularity
Different
60 Trustworthy
40 Helpful
Down to Earth BP’s
20 Simple
0
High Quality Relative Strengths
Differentiation Relevance Esteem Knowledge Unique
Leader
BP Sector Average Friendly
Progressive
Cares for Customers
Tough
100 Tracking DREK Worth More
Reliable
80 High Performance
60 Distinctive
Independent
40 Socially Responsible
Prestigious
20 Up to Date
Best Brand
BP’s
0
Differentiation Relevance Esteem Knowledge Upper Class
Arrogant Relative Weaknesses
BP 2001 BP 2006 Glamorous
Traditional
Fun

-10 -8 -6 -4 -2 0 2 4 6 8 10

Vs category average

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…. but the whole basis by which

we trust is being disrupted
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 excellent value

quality strong image

Trust
understanding social responsibility
consumer needs

Source: Readers Digest, Trusted Brands survey ‘07

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Accountable ethics

ExxonMobil Funded Group

Offers Scientists Cash to
Attack Major New Global
Warming Study…..

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Democratisation of information

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Disillusion in ‘trusted’ institutions

Favourability towards corporations over time

2.8

2.7

2.6

2.5

2.4

2.3

2.2

1997 1998 1999 2000 2001 2002 2003 2004

Year
Source: TGI Premier (85 companies rated

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 … but believe likeminded people
Who and what influences our
decisions?

High Potency

My Mate Bob

Your Mate Bob

Nobody’s mate
High Proximity

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 70% of Russians agreed with the statement
‘People often ask my opinion of brands’

65% of Russians actively recommend brands to others

Source: Readers Digest, Trusted Brands survey ‘07

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… and they share knowledge

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 It’s a show me world,
not a trust me world.
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5 point plan

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Building trust in the new world order
Five point plan to building credible, sustainable, differentiated and relevant
brands

1 Insight and vision

Be rigorous in
understanding key
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dimension of trust is
relevant or will be
relevant to them?

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Building trust in the new world order
Five point plan to building credible, sustainable, differentiated and relevant
brands

2 Be focused

Deliver your insight through a focused

proposition / promise.

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Building trust in the new world order
Five point plan to building credible, sustainable, differentiated and relevant
brands

3 Determine what the moments

of truth are within the customer
experience.

Push the opportunity at each

stage.

Rectify your weaknesses and

deal with ‘anti apps’ /
reputational issues quickly.

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Building trust in the new world order
Five point plan to building credible, sustainable, differentiated and relevant
brands

4 Use your people and customers

as evangelists.

People are driven by others not

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media.

We increasingly think about our

choices and do not do as we are
told by large corporations.

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Building trust in the new world order
Five point plan to building credible, sustainable, differentiated and relevant
brands

5 Move from push into

permission.
Bond and build the
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Convert loyalty to
advocacy and
evangelism.

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Trust

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