Public Relations & Social Marketing Insight

85% of consumers say it is important or very important to them to do business with a company for which they have strong emotions, per survey results [download page] released in November 2012 by rbb Public Relations. But that connection is more important in some industries than others, and appears to matter more in industries where products are more complex and less of a commoditized.

For example, 76% of respondents say that an emotional connection is important from healthcare providers, with that connection built upon personal and proactive communications from the provider. Banking (63%) was next, followed by professional services (62%). A high proportion also value emotional connections when it comes to travel (56%), insurance (55%), auto (52%), technology (44%) and food (also 44%)....

...The report says people are getting some optimism back, although their buying habits -- particularly those of 20- to 30-year-olds -- are going to be radically different. The report lists 13 "microtrends." First on the list is trust, or "trust is the new black." Gerzema said there has been a 50% decline in trust since 2001, but a 35% rise in trust as a driver of brand equity. That suggests there's an opportunity for brands that open their arms wide and say, "Here I am with all my blemishes."

"Customers want a reason to believe and brands who give them that will be better off," said Connelly. Gerin said MasterCard is doing just fine in that category -- as she said the brand is 87% more trusted than any other brand of any kind.

 

McCracken said trust matters in a "black swan" world full of disruptive competitors. "The last 20 years have been a chronicle of brands behaving badly," he said. "The name of the game is absolute transparency." The good news for established brands is that assuming they have not been behaving badly, they have equity, while new competitors have nothing but VC money. To achieve trust equity functionally, the "front" of a company -- its brand, communications, what it claims to be -- must match the back, the invisible side, where it does what it actually does....

 

[Very interesting trend report for marketing and PR ~ Jeff]