29 statistics about brand trust
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What is brand trust?
In a competitive landscape, trust is a key player in brand success, as consumers are more discerning than ever before. When searching online, users first impressions of a brand can be decided on in seconds. Making sure that you are demonstrating trustworthiness is one of the many key factors in getting users to convert. Initial trust from a potential customer is usually based on reviews, testimonials, case studies, and user user-generated content. When 55% of a brands first impression is visual, sometimes a user can solely choose to trust a company based on the way they choose to present and display their company on their website or social media.
Trust between a business and its customers can also be built up over time, with consistent good-service. While brand trust can create customer loyalty, it can also be far too easy to forget how difficult it can be to regain brand trust once is it lost. Staying true to your brand values and keeping up with good practice and brand image is so important for customer loyalty.
- Brand trust can be defined as a few different things, including:
- How well customer expectations are met
- How closely a brand sticks to its values
- The quality of the product or service
- How a company uses and handles customer data
- How well the brand deals with customer service issues
Here are some useful stats that shed light on consumer behaviour surrounding brand trust at present. Please check out Digital PR at Embryo to see how we could transform your brand narrative, or for further insights please contact us at info@embyro.com or on 0161 327 2635.
Important brand trust stats
- 7 1% of consumers are more likely to purchase from a brand they trust (source).
- According to Edelman’s Trust Barometer, Gen Z exhibits the highest need for brand trust, with 79% saying it is more important to trust the brands they buy today than in the past (source).
- The Institute of Customer Service found that 81% of people hold trust as a very important factor in deciding whether or not to use an organisation and 95% are likely or very likely to remain as a customer of a business they trust (source).
- Three-quarters (75%) of consumers are more loyal to retailers that present themselves as being authentic (source).
- Research reveals that 65% of UK consumers think about the environmental impact of the items they buy, while 41% say they prefer to shop locally rather than online (source).
- One consumer survey shows that 49% of consumers trust branded reviews as much as personal recommendations from friends and family members (source).
- Customer reviews and ratings are crucial, According to a 2021 report by PowerReviews, 99.9% of customers read reviews when they shop online (source).
- 61% of consumers will recommend a brand they trust to a friend (source).
- 41% of consumers will join a loyalty program with a brand that they trust (source).
- 40% of consumers will post reviews online for a brand they trust (source).
- 49% of consumers will distrust a brand that tracks them online or uses their information inappropriately (source).
- 39% of consumers will distrust a brand that sends them too many communications (source).
- 39% of consumers will distrust a brand that continues to send them comms despite the consumer opting out (source).
- 58% of people will buy or advocate for brands based on their beliefs and values (source).
- 80% of people will invest in brands based on their beliefs and values (source).
- 40% of people will trust a brand because of an influencer (source).
- 63% of people will trust what an influencer says about a brand as opposed to what a brand says about itself (source)
- 81% of consumers must be able to trust a brand will do what is right (source).
- As few as 26% of millennials trust traditional advertising, suspected to be even lower for Gen Z (source).
- Almost 50% of shoppers would pay more for a brand that they trust (source).
- 77% of consumers prefer shopping with brands they follow on social media
- Two-thirds of consumers think it’s annoying when brands make fun of their competitors, this can implicate brand trust (source).
- 32% of customers say positive customer service experiences are one of the main contributing factors to brand trust (source).
- 91% of business executives say their ability to build and maintain trust improves their bottom line (source).
- 79% of consumers say that protecting their data is very important to build trust (source).
- About half of the consumers (50%) report experiencing a trust-damaging event. But only 20% of business executives say their organisation has been involved in this type of incident (source).
- According to a survey by Pwc, 74% of consumers build trust through quick responses to customer concerns (source).
- In the same survey, 72% of respondents agreed that high-quality products and services helped them build trust with a brand.
- Lastly, trust in technology brands is set to reduce by 15% by the end of 2023. Throughout COVID-19, trust for tech-led businesses increased hugely, however, the honeymoon period appears to be drawing to a close as consumers become increasingly less confident in tech-related businesses.
Tips for building brand trust
In an evolving marketing landscape, trust remains the underpinning factor that holds brands and consumers together. As the statistics above show, building and maintaining brand trust is multifaceted and it requires an overall strong business-consumer relationship.
Now that we know what brand trust is and the consumer perspective, let’s take a look at some ways to build brand trust.
- Top tips for building brand trust:
- Stay authentic
- Present yourself as a thought leader in your industry
- Publish content that you know will help your audience
- Embrace transparency, especially when rectifying mistakes and issues
- Be clear with company values so that consumers can align with them
Keeping these trust-building strategies in mind will be essential for businesses looking to thrive in an era where trust is paramount. If you need support with building and maintaining brand trust, get in touch with our team today.
