At the Gustavson School of Business, we conduct an annual survey (GBTI) to assess consumer trust across more than 300 different brands. Every year, the GBTI provides new insights into consumer behaviour and interactions with brands. It measures how the corporate world is adapting to change and earning and keeping the trust of consumers.
These five findings keep coming back stronger each year;
No organization is perfect, and mistakes happen. Those organizations who welcome feedback and use it to both fix an issue and empathize with the consumer and their experience, engender greater consumer trust and loyalty.
For an organization to be trusted and seen as credible in playing a positive role in society, it must also
ensure the quality and competitiveness of its product, supply chain and customer experience.
Today’s customers and employees alike assign their loyalties to organizations that contribute to
making the world a better place and to improving people’s lives. They expect businesses to be proactive in solving longstanding societal issues.
Consumers are more forgiving if negative behaviours are accidental o outside the brand’s control. Brands that violate our trust through active malfeasance or a lack of transparency remain mired at the
bottom of the GBTI rankings.
Those organizations who demonstrate a good sense of concern for their employees’ well-being will benefit from lasting effects consumers’ perceptions of brand trust.