Today, new nationally representative research from Marketreach and endorsed by the Advertising Association reveals the true commercial impact of trust for brands. The extensive research combined qualitative research with an online survey of over 4,000 UK respondents, finding that advertising alone does not influence a consumers’ decision to use a business: trust does.
This is a major in-depth investigation into the nature of trust in the commercial world developed in collaboration with respected research agencies Tapestry and Map The Territory.
Key insights from the report include:
- The commercial impact of trust – over half (59 per cent) of consumers say that trust plays a vital role in persuading them to consider a product or service. This compares to 5 per cent who are motivated by just seeing an advert
- Trust is the foundation of all successful relationships -92 per cent of consumers will ‘act’ or ‘do something’ if they trust an organisation or brand, with 74 per cent of consumers will spend more
- The risk when trust is lost – 60 per cent of consumers who have stopped using a brand admit that it is because they don’t trust that brand anymore
- Trust brings a competitive edge – consumers are 47 per cent more likely to choose a brand they trust over competitors
Click here to download the full report.
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