Saturday, March 16, 2013

The Trust Factor.

The Trust Factor is a study by and Latitude that focuses on the role of trust in consumer engagement and action. Following are the insights from the study.

1. Given the high volume of information available online, consumers identify trust as a valuable filter for identifying valuable solutions

2. Trust is a pre-requisite for even entering the purchase funnel as consumers will not engage in a brand-consumer conversation unless specific trust “cues” or elements are triggered.

3. There are 10 elements of trust. Awareness is one of them, but it’s nowhere near the top of consumers’ lists. Trust elements become even more important when the consumer is using a mobile device.

4. Consumers do not expect – or even want – brands to deliver trust completely on their own. They prefer that trust be provided in combination with other sources, especially content.

5. There is no such thing as “one-stop shopping” for info or products. Consumers are creating custom solutions aggregating brands, content, advertising and social.

6. When it comes to building trust in the social sphere, reviews are the most valued tool. “Likes” hold little meaning.

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