19 October 2009 31 Comments

Brand profitability: why the trust pathway helps

Author: yinkaolaito

Yinka Olaito is happy,excited and passionate Communications & Media specialist, Trainer and speaker. Yinka Olaito helps Profits and Non-profits with effective communication and positioning for premium service delivery and returns. Yinka Olaito also has special interest in Development Communication and has consulted for noted UN Agencies. Yinka Olaito is the CCO of Michael Sage Consulting(Communication/digital media), African Child Education Right Initiatives(NGO) and Content Director, Africa Development Talk( online Platform for discussion on Policy, Governance, development across Africa) and Africa Foundation for Young Media Professionals

brand profitbrand and trustTrust is becoming a scarce commodity in this season;  building brand profitability through trust must now be an integral part of any brand strategy if brand must make reasonable profit. Top executives of many brands can no longer be trusted and this has affected the confidence stakeholders have in many of the brands.  Many brands’ failure and liquidation are traceable to lack of strong corporate ethics. While I am not pre-empting anything, I do think that the breach of trust repose on top executives of many banks executives in our nation led to the dissolutions of many banks’ board of directors.  Imagine granting loans running to billions to individuals or corporate organizations without collateral. At least that was what we were made to believe by the investigating authority.

What will keep and sustain many brands today is the level of trust, confidence the customers have in them. One of the ways to build trust in a brand today is openness, honesty, entertaining, usable content that daily helps in solving the challenges of the customers. This route allows any brand at whatever level to participate. There is no excuse for any brand not to initiate the process. It may be a long term investment but it holds a sure result.

Even if your brand is a start up, begin by supplying insight, helpful information. After a while, your brand will gain some conversion rate out of those who feel you have been of help in resolving doubts they have. When you build trust, the conversion rate may be gradual but it will trickle as you increase your brand’s efforts. Remember that every buyer starts their search on the net as a browser. As a browser, this potential has no commitment to any brand. The potential can be classified as onlooker or as an unbeliever in religious parlance. If your brand can build trust through usable, relevant content, you can turn them to believers in your brand. To gain more customers, I think it is high time brands jettisoned sales pitches, old marketing principles by converting browsers to believers and believers to buyers.

When buyers are turned to buyers, the process must be continued. Keep lubricating, oiling the relationships. I do believe also that a strong brand activation process stands better chances of being successful if it is laden with trust building than any other alternatives.

31 Responses to “Brand profitability: why the trust pathway helps”