Brand Trust The Six Drivers of Trust

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The presentation shows how to build and improve trust and creating brand trust to improve your organisational performance. Actively building trust can have an immediate effect. A small 20% increase in trust can mean a 400% improvement in customer attitude and behaviour.
Trust drives up to 80% of the Net Promoter Score (NPS), satisfaction and reputation. We are able to understand and manage this key driver with HuTrust®.
HuTrust® is scientifically robust, statistically sound and practically proven.
Presentation made by Stefan Grafe, HuTrust® developer and managing director at mext consulting.

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Brand Trust The Six Drivers of Trust

  1. 1. BRAND   prepared  by  Stefan  Grafe,     managing  director,  mext  consul=ng     &  HuTrust®  developer,     stefan.grafe@mextconsul=ng.com                   TRUST  is   T H E   S I X   D R I V E R S   O F   T R U S T   This  publica=on  and  results  are  copyright  mext  2013.  HuTrust  and  the  6  drivers  of  trust  are  copyright  and  trademark  of  ifm/mext.  Copying  and  publishing  by  any  means  is  not  permiUed  without  express  permission  of   the  copyright  holder  except  as  permiUed  through  the  Australian  copyright  act  and  for  informa=on  purposes.    Photos  copyright  istock.com  and  mext      The  six  drivers  of  brand  trust,  reputa=on,  Net  Promoter  Score  (NPS),   customer  sa=sfac=on  &  loyalty  and  stakeholder  engagement  (investor  engagement,  employee  engagement).  Die  sechs  Treiber  von  Vertrauen,  Reputa=on,  Net  Promoter  Score  (NPS),  Kundenzufriedenheit,  Kundenbindung,  Investor-­‐  und   Angestelltenbindung          HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  2. 2. As human beings, we inherently understand the importance of trust  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  3. 3. From finance…  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  4. 4. …..to friendship…  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  5. 5. and  the  contents   of  our  food...    HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  6. 6. We rely on trust. Everyday and in everything we do  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  7. 7. “ You can have all the facts and figures, all the supporting evidence, all the endorsement that you want, but if at the end of the day you don’t command trust, you won’t get anywhere.”! Niall  FitzGerald  (2001)   Former  Chairman  ad  CEO  of  Unilever    HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  8. 8. But trust is not just warm and comforting  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  9. 9. trust is exhilarating  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  10. 10. and building trust delivers immense commercial value  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  11. 11. That’s why since 2004 mext specialises in helping clients build and manage trust. We (and our partners) continuously conduct studies globally into the benefits and drivers of trust with the HuTrust® methodology. ! ! Studies with over 50.000 respondents have contributed to understanding, validating and applying the HuTrust® approach in building and managing trust.!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  12. 12. Our studies found that when people trust a brand…  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  13. 13. 83% ! will recommend ! it to other people!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  14. 14. 82% will use its products & services frequently  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  15. 15. 78% will look to it first for the things they want!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  16. 16. 78% will give its new products and services a chance!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  17. 17. 47% will pay more for its products and services!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  18. 18. 74% believe it’ll inform them about products and services they’ll like!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  19. 19. In  effect,   If  you  want  people  to:     ü  Buy  more,     ü  Try  more  and   ü  Pay  more     Then  building  more     brand  trust  is  the  key    HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  20. 20. So if harnessing trust is the key to people buying, trying and paying more for a product or service, how do you harness brand trust??? ?  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  21. 21. By understanding what your trust is made of.! !  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  22. 22. Trust Driver 1:! ! Stability! …a brand must have a strong foundation in order to be trusted  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  23. 23. Trust Driver 2:! ! Development! …a brand must be seen to continue to develop & innovate in order to be trusted  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  24. 24. Trust Driver 3:! ! Relationship …a brand must provide an appealing relationship in order to be trusted  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  25. 25. Trust Driver 4:! ! Benefit …a brand must deliver a relevant benefit in order to be trusted!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  26. 26. Trust Driver 5:! ! Vision …a brand must have a strong vision in order to be trusted!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  27. 27. Trust Driver 6:! ! competence …a brand must have relevant competencies in order to be trusted!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  28. 28. The six drivers of HuTrust are psychologically correct. Even statistically they drive over 75% of trust –  when,  sta=s=cally,  65%  would  already  be  considered  very  high       ®    HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  29. 29. Our research found that all six drivers are almost equally correlated with ! brand trust…! Trust  Driver Weighted  Average Stability   0.70 Development 0.73 Rela=onship 0.76 Benefit 0.74 Vision 0.79 Competence 0.81 Australian  General  Popula=on  1,110  sample,  2010  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  30. 30. But no single driver can harness trust by itself,!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  31. 31. because they all work together like parts of an engine!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  32. 32. So how can you start harnessing trust in your business or brand???  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  33. 33. Step 1: Establish your metrics! (what is the strength of your trust drivers?)!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  34. 34. For example: ! If your brand is already strong in stability, there may be little use in driving that more. But if it has a lack in vision trust then that may be the trust driver to focus on.!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  35. 35. Step 2: Define your trust drivers ! (what do your customers want to trust your brand for?)!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  36. 36. For example: What type of vision is attractive and engaging for your customers, consumers, employees and analysts?!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  37. 37. Step 3: Refine your tactics! (Use every process & program to build trust)!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  38. 38. For Example: ! If your relationship is about ‘challenging’, then your product, brand & experience should reflect this!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  39. 39. As human beings we inherently understand the importance of trust. ! We need to transfer this understanding into commercial work, because…!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  40. 40. Trust drives the vast majority of stakeholder behavior. Trust is the key to people buying your products & services and staying loyal to you.!  HuTrust®  by  mext    www.mextconsul=ng.com      www.hutrust.com    
  41. 41.  HuTrust®  by  mext                          www.mextconsul=ng.com        www.hutrust.com         This  publica=on  and  results  are  copyright  mext  2013.  HuTrust  and  the  6  drivers  of  trust  are  copyright  and  trademark  of  ifm/mext.  Copying  and  publishing  by  any  means  is  not  permiUed  without  express  permission  of   the  copyright  holder  except  as  permiUed  through  the  Australian  copyright  act  and  for  informa=on  purposes.    Photos  copyright  istock.com  and  mext      The  six  drivers  of  brand  trust,  reputa=on,  Net  Promoter  Score  (NPS),   customer  sa=sfac=on  &  loyalty  and  stakeholder  engagement  (investor  engagement,  employee  engagement).  Die  sechs  Treiber  von  Vertrauen,  Reputa=on,  Net  Promoter  Score  (NPS),  Kundenzufriedenheit,  Kundenbindung,  Investor-­‐  und   Angestelltenbindung         Global    contact:   mext  Consul>ng  Australia     Stefan  Grafe,  Managing  Partner  &  HuTrust®  Developer   Stefan.grafe@mextconsul=ng.com     165  Cremorne  Street     Richmond  VIC  3122   +61  3  94285417   Duxton  Consul>ng  Singapore   Email:  laurenz.koehler@duxton   consul=ng.com   Address:    26  Duxton  Rd.   Singapore  089490   Phone:  +65  6323  3340   Chris>na  Eisenschmid   Email:   chris=na.eisenschmid@psyma.com   Address:  Nymphenburger  Str.  14   80335  Munich   Phone+49  (0)  89  20209610   Concerto  Marke>ng   Suite  250  –  128  Has=ngs  St.  West   Vancouver,  BC  V6B  1G8   t:  604-­‐684-­‐8933   f:  604-­‐684-­‐8934   Who  Group  Australia   M.Dudley     Email:  md@whogroup.com   Level  2,  1  Southbank  Blvd   Southbank  VIC  3006   03  8636  4000   Tred  Interna>onal   Adam  Thorp,  Director   Mobile:  0417  584  599     Phone:  02  9300  6439   www.tredinterna=onal.com   Email:  info@tredinterna=onal.com   For further information and HuTrust® usage, please contact:

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