Talk: Brand Trust in the Age of Distrust
Which brands do you trust? On 18th November Trustpilot’s Glenn Manoff joined the Museum of Brands to explore brand trust in the digital age. It was quickly established that the brands we deem most trustworthy are consistent, and provide a long-term, quality service.
Glenn continued to explain that although trust is key to sales, just 54% of consumers trust brands to act in their interests, while 72% of us trust digital platforms less each year. The rise of ecommerce has particularly broadened the gap in trust between consumers and businesses. However, today reviews are helping to breach this gap, with companies like Amazon and Airbnb using reviews to build trust and transform markets. In fact, today 87% of consumers will trust companies with a Trustpilot rating.
Following questions from a lively audience including representatives from CIM, The Worshipful Company of Marketors, and American Express, Glenn reminded us that today “there are no secrets in the world” and we must remember that our biggest critics can inspire the greatest brand development.