Trust has never been more important or in shorter supply. Advertisers and marketers used to think winning loyalty was the ultimate campaign aim. But if the public does not trust a brand to begin with, building the loyalty needed for long-term success is that much harder.
“Trust is the fundamental reason brands came into existence and why they became so valuable", says Matt Waller, creative director of London-based advertising agency Recipe.
Yet trust in many public institutions is declining. This year’s Edelman Trust Barometer found that confidence in government (-8 points), the media (-6 points), NGOs (-6 points) and business (-3 points) was down as the pandemic, protests and politics polarised opinion. In the resulting "infodemic", trust in all information sources slumped to record lows.