Trust is a brand's most valuable asset. To be trusted means being authentic, reliable, honest. If you think about it, there's not many brands spring to mind fulfilling those criteria. Yet it is increasingly what consumers and business buyers want.
A wind of change is blowing
There is a change afoot whereby consumers want to buy from brands and businesses that stand for something beyond the products or services they provide. Many businesses can sense this shift happening around them, but aren't sure how to react. It is a realisation that the market is looking for something beyond simple product utility.
People are asking:
- Is this brand doing something positive for me and the world?
- Can I proudly tell my friends I buy this brand?
- Can I defend this brand? And would it defend me?
Just update the CSR Policy, it'll be fine...
This idea of trust is based on an authenticity that runs far deeper than a corporate social responsibility statement or modest donation to a good cause. It needs to be in the DNA of a company. It only comes through a realisation by the executive, communicated through all tiers of a business, that to thrive and survive long-term requires a proper strategic reassessment of values.
Yes, that means a brand striving to have a higher purpose. Is there a higher purpose than profit? There better be, or we are all screwed.
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