New Study Finds That Advertising Cultivates Brand Trust Leading to Purchase Intent

"New York, NY, June 11, 2024 - When brand trust increases by just one point, the average consumer purchase intent increases by 33%, with Reliability, Respect, Ethical Business Practices, Authenticity, and Relatability top drivers of brand trust. This is according to a new study released today by Vevo, MAGNA Media Trials and Initiative, which surveyed a nationally representative group of nearly 5,000 U.S. consumers to understand the components of brand trust and how they vary across verticals and inclusive cohorts."

"Advertising is a key way for brands to create connections and build brand trust (76%). And 48% stated TV Ads as the preferred channel of engagement to communicate brand messages and build trust. Other preferred channels include social media ads (33%), brand websites, (25%), and product placements (25%). Responsible media practices are the most effective way to build trust (65%). Placing ads next to/in content that is "reputable and safe to watch", "supports diverse communities and creators", and "representative of the world around me" are top examples."

"Connection is table stakes. "No connection with me" is a key reason for brand distrust (38%), followed by "mishandled controversies," "inauthentic" and "hard to find reviews" - highlighting how a perceived lack of effort breeds distrust. Additionally, 32 brands across the Automotive, Fast Casual Dining, Finance, and OTC Medications verticals were tested on 10 dimensions of brand trust. Notably, when brand trust was increased by just one point, average purchase intent increased by 36% for OTC, 34% for Automotive, 30% for Finance, and 26%"

A survey of nearly 5,000 U.S. consumers examined components of brand trust and variation across verticals and inclusive cohorts. A one-point increase in brand trust raised average consumer purchase intent by 33% overall. Reliability, respect, ethical business practices, authenticity, and relatability emerged as the top drivers of brand trust. Advertising is a primary way to build trust, with 48% preferring TV ads and other channels including social media ads, brand websites, and product placements. Responsible media practices and placing ads near reputable, diverse, and representative content increase trust. Lack of connection, mishandled controversies, inauthenticity, and scarce reviews drive distrust. Vertical tests showed varying purchase-intent gains.

Read at Thedrum