Restoring Trust in Your Brand: A Path to Meaningful Connections

By Ethan Moengchaisong. Last updated 4/14/2023 - 12:00pm.

The Trust Crisis

In today's uncertain world, marred by political and social unrest, disinformation, and distrust, consumers are increasingly skeptical of brands. Havas Group's 2021 report revealed that most people wouldn't care if 75% of their daily brands vanished. This growing trend of declining trust in brands is impacting both small businesses and giants like Facebook alike.

Brands are now challenged to make real impact rather than relying on flashy marketing campaigns. Consumers are weary of empty promises and demand brands deliver on their commitments.

Giant brands like Facebook have been experiencing a decline in usage since 2017.
Source: Edison Research 2019

Global Trust Disparity

Trust in brands varies across regions, with North America, Western Europe, and East Asia showing the lowest levels. The US, for instance, has only 47% of brands perceived as trustworthy. In contrast, Latin America and Southeast Asia still maintain 79% and 81% trust, respectively.

Brand distrust is a global issue, particularly in North America, Western Europe, and East Asia. In the US, only 47% of brands are seen as trustworthy, while the global average is 57%. Latin America and Southeast Asia show higher trust levels at 79% and 81%, respectively, but they're hesitant to recognize any related improvements in quality of life.
Source: Havas Group

The Opportunity: Building Meaningful Brands

Embracing purpose-driven branding presents a chance to distinguish yourself from competitors. As Paul Campillo of Typeform suggests, meaningful brands are more profitable, enjoy stronger community bonds, and make a genuine difference in the world. Over half of consumers are willing to pay more for brands committed to environmental and social issues, and 64% prefer companies with a reputation beyond mere profits.

Gen Z have extra heart for brands that take effective action and are accepting of all people.
Source: Havas Group

Gen Z, for example, gravitates toward brands that take a stance on social issues and champion diversity. In this age of readily available information, creating a meaningful brand is essential for success. By committing to customer-driven values and delivering on promises, brands can secure loyal customers and ensure lasting growth.

Sources:

• Havas Group 2021 Study
• The Verge
• What is a Meaningful Brand
• How to Become a Meaningful Brand

Keywords: Trust, Meaningful Brands, Consumer Skepticism, Global Trust Disparity, Purpose-Driven Branding, Gen Z