Supporting employees key to building brand trust
With lockdown measures continuing to impact how businesses position themselves in the market, a study by Qualtrics revealed more than 80% of people believe it’s important for brands to take care of their employees and customers, and to not take advantage of the crisis to maximise profits.
When asked what behaviours increase trust during the crisis, respondents in Singapore indicated that not taking advantage of a crisis was the top-ranked attribute (42%), followed by maintaining reasonable pricing (40%) and taking care of employees (37%).
What respondents found less impactful were messages of hope and optimism (14%) or even statements about providing new products and solutions (10%).
“Trust has a fundamental role to play as businesses begin to reopen their doors and rebuild operations. In these uncertain times, high levels of trust mean consumers can feel confident in choosing to engage with your brand,” said Lisa Khatri, Brand Experience and Research Lead for Qualtrics in APJ.
“While the operational impact of the restrictions is temporary, their influence on consumer behaviours and attitudes will be long-lasting. Over the last month, we have seen huge changes in the ways consumers engage with brands, and these will continue to evolve each time restrictions change. For businesses to remain relevant, they need to understand how each shift impacts the drivers of brand trust, and how their actions at each stage can positively influence how the brand is viewed.
“The Qualtrics study revealed that brand actions in a time of crisis will have a major impact on brand trust for almost two-thirds (66%) of Singapore respondents. Brands that align behaviours by taking action on the issues consumers care most about will not only be in a better position to navigate the recovery phase, but accelerate it too,” added Khatri.
To help businesses understand the drivers of brand trust and focus actions on the most relevant actions to consumers, Qualtrics launched the free solution The COVID-19 Brand Trust Pulse as well as Back to Business solution designed to help organisations stay connected with customers, understand their expectations and preferences, and take actions to build customer confidence as businesses reopen their doors.