SHARE Creative, the insights led creative agency that drives brand relevance, has released its first-ever 2023 Brand Trust report, a comprehensive analysis of thousands of conversations using the agency’s proprietary social listening tools and UMAP clustering data analysis (considered the most accurate by data scientists) to explore the nuances around the phenomenon that is consumer trust.
Click here to download the complete report.
“Each year various marketing firms and media outlets release studies that attempt to understand the current state of consumer trust in brands,” Dee Nuncio, SHARE’s Head of Strategy, says, “but those results are largely based on online surveys, which most data scientists see as unreliable. Contrary to that approach is our combination of SHARE’s own proprietary social listening tools, coupled with UMAP data clustering around conversations happening in real-time across multiple social media platforms. With that, we get a real and more accurate assessment of what goes into consumer trust.”
SHARE’s 2023 Brand Trust report dove into two specific sectors – automotive and tech – to gain further insight into how brand trust looks across those industries.
Key Findings In Automotive:
SHARE analyzed leading brands in the sector, including BMW, Mercedes-Benz, Toyota, Honda, and Ford. They found that reliability and consistency are the most important behaviors for automotive customers in building trust, and further, these traits were more important than a brand’s purpose or responsibility.
SHARE’s analysis revealed that BMW leads the trust and loyalty categories through reliability and authenticity. The brand’s consistent messaging and consumer experience over time have clearly built a strong foundation, making BMW one of the most trustworthy auto brands in the market.
In contrast, SHARE found that with Ford, consumer trust is not based on the brand’s reliability or behavior. Instead, Ford has cemented its position in the customer’s psyche through consistency, particularly in the U.S. In turn, this drives fierce loyalty amongst certain consumer groups.
Overall, for the automotive sector, reliability gets the highest mean average across behaviors, reaffirming the need for a quality product. Conversely, being purposeful or showcasing a mission is less impactful than other considerations, receiving the lowest mean average and lowest influence trust.
Key Findings In Technology:
SHARE analyzed five top tech brands including, Amazon, Apple, Google, Samsung and Sony, finding each of these brands excel in specific areas. For example, Amazon excels in authenticity but lacks purpose, and is not seen as reliable or consistent. Samsung outperforms in consistency but is lacking in authenticity and reliability.
Overall, for the tech sector to build consumer trust brands need to provide better all-around business, product, and brand experiences. They should also over-index on authenticity and reliability, supported by consistency and the resulting loyalty. Unique products are also key drivers of trust, with offerings either driving success or dragging brands down.
“Just by studying brands in these two sectors we see that trust is not one-size-fits-all,” Nuncio adds. “Social intelligence can help brands better understand those behaviors and the emotions or actions tied to them – using the knowledge to build trust authentically. That’s where we see true long-term success.”
About SHARE Creative:
SHARE Creative builds brand relevancy by using pioneering research to power fearless creativity. Before its inception in 2015, the founders worked together for over a decade at industry-defining social agencies and social tech companies. In 2020 SHARE moved to the next phase of its journey and became part of SAMY Alliance – a global network of specialized and integrated marketing and communications solutions. SHARE now has offices in London, Miami, Seattle, Amsterdam and Madrid.
Media ContactCompany Name: SHARE CreativeContact Person: Milly LiechtiEmail: Send EmailCountry: United StatesWebsite: https://sharecreative.com/
