THE VALUE OF TRUST
Consumers put faith in brands they can trust
A key attribute shared by many of Indonesia’s most valuable and fastest-growing brands is that they have earned consumers’ trust. With the world is changing ever more rapidly, and as the number of brand choices increases, many people are using the “trust response” to help them quickly arrive at what feels like a good decision.
Trust is important not just because it’s an indicator of whether a consumer will buy a brand, but also because BrandZ global research shows that trust and recommendation are strongly linked. Recommendation matters enormously, given the increasingly widespread usage of social media.
Levels of trust in leading Indonesian brands have been steadily increasing. Five years ago, the Top 50 brands were 9 percent more trusted than the average brand, while the Top 10 had a 14 percent lead. Now, those figures have climbed to 12 and 18 percent.
When we compare how Indonesians feel about the Top 30 most valuable home-grown brands with how people in other markets feel about leading brands from their own country, Indonesia emerges as a strong performer. We use 30 rather than 50 brands for comparison as several rankings only go to 30.
Principles of trust – The 3 Is
Kantar research into how people arrive at trust in our increasingly unpredictable world shows that three principles – integrity, identification and inclusion – together provide the basis on which a relationship of trust can be built.
Integrity: Doing what you promise
Integrity is the foundation of trust, and brands need to find new ways to signal it because
old cues that a brand was trustworthy no longer apply. Big businesses used to garner trust, but to modern consumers, big is often synonymous with being faceless, commoditized, mass-produced and, ultimately, less trustworthy.
Identification: Establishing a connection at a human level
At a time when “facts”, authority, and other rational bases of trust are being questioned, people revert to trusting their emotions. Qualitative research shows that people appreciate brands that take a stance and are willing “live their values” in the way they run their business.
Small, artisan brands are often easier to identify with than big, faceless corporations. This makes the issue of identification harder for large brands to manage, because it means behaving in open, spontaneous and authentic ways that invite emotional connection and trust, while simultaneously carrying the burden of corporate responsibility and correctness.
Inclusion: Building a sense of kinship
Inclusion is not simply about creating a privileged club with benefits. At its best, inclusion means that the brand cedes some control to its customers and asks them to invest something of themselves in the brand’s world.
Trust often takes many years to earn and is a fragile and precious thing. Some of the most trusted Indonesian brands have been around for decades – their longevity in itself provides consumers with reason to trust that a brand will live up to their promises. But many brands born in the internet era are also among the country’s most trusted, showing that new brands can establish trust quickly if they consistently deliver against consumer expectations.
The most trusted international brands in Indonesia include: KFC, Royco, Dancow, Pantene, Carrefour and McDonald’s.