The majority of Americans say they do not have much (29 percent) or any (25 percent) trust that corporate America will do what is right. Yet about three-quarters (74 percent) say they trust individual brands to deliver consistently on what they promise, and more than half say that a brand has to do something wrong before they lose trust in them.
With trust emerging as a key lever in brand loyalty, a new report from Morning Consult looks at the factors consumers consider when deciding to trust a brand.
Some 73 percent of the 2,200 U.S. adults surveyed say that protecting their personal data is a “very important” factor when it comes to whether to trust a company – making this the factor with the broadest consensus among respondents. Data privacy and security is a common thread in recent research; a Pew Research Institute survey showed that 70 percent of Americans feel their personal data is less secure than it was just five years ago, while the CMO Council and Cheetah Digital found that brands list securing and respecting personal data that has been voluntarily provided as one of their top priorities for securing the trust of their customers.
Unfortunately, only one-quarter (25 percent) of respondents say they have a lot of trust in the average major company to protect data privacy.
-Courtesy of MarketingCharts