Is Your Brand Trusted Enough To Sell Itself? - Building Brand Trust/The Envero Brand Trust Index

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This presentation allows you to understand how to increase your levels of Brand Trust. …

This presentation allows you to understand how to increase your levels of Brand Trust.

We have identified that Honesty not Quality is the key driver of your Brand Trust levels and this will determine how much consumer advocacy your brand will enjoy. How can we make this claim?

The Envero Brand Trust Index measures over 2500 international brands, across 17 markets, 14 categories and surveying 30,000 consumers, including both the opinions of people who consume your brands and those who don’t but still hold an opinion about you.

We can help you to understand how you can significantly improve your levels of Brand Trust.

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  • Google RUBank of Scotland _ IEDiscussion questions…?
  • How do you see these things impacting your business?
  • How much do you invest in building trust vs improving Quality?How do people define quality in your context anyway?
  • Mandela – honest, caresSocial equity = evidence

Transcript

  • 1. BUILDING TRUST BRAND
  • 2. BUILDING BRAND TRUST Introduction to And the Brand Trust Index
  • 3. The influence chain: working for or against you? Envero helps clients build trust and positive word of mouth through their influence chain
  • 4. Envero’s four step process 1. COMMITMENT 2. DIAGNOSIS 3. STRATEGY 4. ACTION 1T1 Conversations Internal Workshops Envero TrustBank Envero Brand Trust Index Involved facilitation Informed provocation Critical friend Capability building Performance Monitoring
  • 5. Word Of Mouth Social media and the internet are amplifying & accelerating word of mouth SOCIAL MEDIA AN KILL YOUR REPUTATION
  • 6. The CONTEXT in which brands are built has changed dramatically, particularly since 2008 65 MILLION unique visitors per month. sharing their experiences – positive & negative Downloaded over 50 million times. Zero paid advertising. 100% Viral January 21 2011 Coulson resigns As Cameron’s spokesperson. July 10th last ever edition 200,000 mentions of horsemeat on social media
  • 7. People talk, share, tell stories and INFLUENCE EACH OTHER CULTURE IS PARTICIPATORY STORIES ARE THE NEW CURRENCY
  • 8. Trust in ‘authority’ is at an all time low – so word of mouth matters now more than ever… “To what extent do you trust the following forms of advertising?” “If you heard information about a company from one of these people, how credible would that information be?” Source: Edelman Source: Nielsen 43% 62% 52% A CEO A Regular Employee A Person like yourself Recommendation from people I know Consumer opinion posted online 92% 47% 36% TV Ads Ads on Social Network 70%
  • 9. We measure the balance between positive And negative word of mouth Consumer Advocacy
  • 10. How we measure the balance between positive & negative Word Of Mouth DETRACTORS Likelihood of Recommendation NEUTRAL OR INDIFFERENT ADVOCATES 44% 26% 26% 30% - =Net Recommendation is 4%30% ADVOCATES 26% DETRACTORS Survey respondents determine the likelihood of recommending a brand on a scale of 1-7 Respondents who select either of the two highest ratings are classified as advocates Respondents who select either of the two lowest ratings are classified as detractors Net recommendation is the balance of % advocates minus % detractors 3 1 2 4
  • 11. Our fact-base – the Envero Brand Trust Index 17+ countries 30,000+ respondents 2,500+ companies & brands 17+ industry sectors The Envero Brand Trust Index has been conducted to date in the countries shown on the map. In total, we have results on more than 2,500 companies and brands based on responses from approx. 30,000 thousand consumers. Companies that have bought into the survey in one or more countries include: Coca-Cola Hellenice, Danone, Cadbury, Santander, Nestlé, Müller, ABInBev, Brown Forman, BCR Bank, Ella’s Kitchen, Bacardi and Electrolux.* To enquire about commissioning a survey in any of these countries or any other country worldwide please contact us via our website at www.envero.co.uk. *In some cases the survey was conducted under the title of GoodBrand Trust Index or GoodBrand Social Equity Index.
  • 12. The Average Brand has significantly more advocates than detractors Bottom 2 = Detractors Top 2 = Advocates Likelihood of Recommendation – Commercial Average* Net Recommendation *based on over 2,000 companies and brands in 13 countries 22% 36%42% Source: Envero Brand Trust Index 22% =14%36% -
  • 13. But the range is rather wide! Distribution of Recommendation - Best Case/Worst Case Technology brand in Russia Major bank in Ireland Net Recommendation 92%-3% = 89% Net Recommendation 7%-54% = -47%
  • 14. Building ADVOCACY & POSITIVE WORD OF MOUTH is not like conventional marketing. You can’t BUY it, you have to EARN it So how do brands earn CONSUMER ADVOCACY?
  • 15. Envero Brand Trust Index: survey design Business DriversTrust Drivers
  • 16. What drives different levels of consumer advocacy?
  • 17. Trust
  • 18. Trust Trust is TWICE as important as Quality in driving advocacy How much does your company invest in improving quality? And in building trust…? Quality
  • 19. Brand Trust is both Functional and Emotional Most Brands deliver Functional Trust Functional Trust • Brand hygiene factors • Product delivers • Consistency Most Brands deliver Functional Trust EMOTIONAL TRUST • Honesty • Consumer Care • Authenticity FUNCTIONAL TRUST • Brand hygiene factors • Product delivers • Consistency …..Positively Advocated Brands deliver Emotional Trust as well Most brands deliver Functional Trust…..
  • 20. The Average distance of the brands from the line of best fit gives us the Strength of the relationship. ‘Line of best fit’. Indicates the relationship between Trustworthy and Recommendation A Trustworthyscore increase of 100 points should see the average brand Gain 77 points in Recommendation+100 +77 R² β R²β Using both the strength of the relationship and the Gainin Recommendation we can calculate the STRENGTH INDEX SCORE SI R² = 0.94 β = 0.77 SI = 240 We calculate the extent to which one measure may be driving another How much is Trustworthiness driving Recommendation?
  • 21. Net Recommendation Drivers – survey average Across Europe, Brand Trust is the key driver of consumer advocacy Gain in RecommendationCorrelation Strength Index R² β SI
  • 22. Brand behaviours (Social Equity) are the biggest drivers of Trust ADVOCACYSOCIAL EQUITY Community Society Environment Workforce Suppliers Honesty Caring Unselfishness Authenticity Reliability Recommendation TRUST Observed Behaviours Perceived Character Shared Opinions
  • 23. Brand Trust Social Equity What does it take to be a TRUSTED LEADER? Source: Envero Trust Index 5000 people rated Mandela No. 1 WHY?
  • 24. The UK Survey SCALE & COVERAGE • 223 well-known companies and brands across a wide range of sectors • 2500 respondents representative of all UK adults, aged 18-65 HISTORY • Previous UK surveys carried out periodically since 2005 • 2010 & 2012 surveys comparable historically to 2014 2014 PLAN • Two comparable waves of fieldwork: Q1 and Q3 • Opportunity to monitor changes every 6 months FUTURE PLAN • Our intention is to maintain biannual surveys
  • 25. SECTOR FTSE 100 OTHER FMCG COCA-COLA HELLENIC, UNILEVER KELLOGGS, CADBURY, DANONE, NESTLE, HEINEKEN, HEINZ, P&G, J&J RETAIL M&S, SAINSBURYS, TESCO, MORRISONS IKEA, JOHN LEWIS, AMAZON, ASDA, COOP, ALDI, PRIMARK, NEXT FINANCE LLOYDS, RBS, BARCLAYS, HSBC NATWEST, SANTANDER, HALIFAX, NATIONWIDE, COOP BANK, VIRGIN MONEY MEDIA ITV, SKY BBC, C4, FT, TIMES, TELEGRAPH, GUARDIAN, SUN, FACEBOOK, TWITTER UTILITIES BP, VODAFONE, ROYAL MAIL, BT ORANGE, BRITISH GAS, NPOWER, EON, EDF, SCOTTISH ENERGY LEISURE EASY JET BA, RYANAIR, TRIPADVISOR, VIRGIN, MCDONALDS, COSTA, STARBUCKS OTHER GOOGLE, BMW, APPLE, OLYMPICS, NHS UK survey coverage – overview of leading brands
  • 26. How important is people’s TRUST in your company to its future success? How well TRUSTED would you like to be?
  • 27. For more information please call us on 0800 644 1264 or contact us through the website BUILDING BRAND TRUST