Brands can build influence through authority and empathy, as per Edelman’s recent report.
The report states that price and affordability is a prime factor, followed by trust at 53%, for consumer when purchasing. Becoming a loyal customer comes in at 49%. Personal experiences (59%), earned media (44%) and trust-building advertising efforts (23%) are factors that build trust in a brand.
44% of consumers started using new a brand “because of the innovative and compassionate way” in which they responded towards the pandemic. However, 40% of consumers stopped using a brand because they didn’t respond appropriately to the pandemic.
Industry experts (60%), “a person like yourself” (59%) and brand technical experts (49%) were identified as credible spokespersons for building trust among consumers. The least credible are celebrities, influencers with millions of followers, and influencers with small following.
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