Trust: A key driver of value

Brands transcend being mere logos or promoters of products and services; they have the power to establish profound emotional connections with their customers. Going beyond the transactional nature of promoting offerings, a strong brand connection is about forging emotional bonds that resonate on a deep level with the target audience. In the realm of successful branding, it's the ability to evoke emotion and establish meaningful connections that sets a brand apart, contributing to a customer's enduring affinity.

In today’s competitive scenario, gaining customer’s complete trust requires marketers to consistently work on their brand building efforts. Greater access to brands, product options across categories, and a surfeit of information have made consumers savvier than ever. As a result, even legacy brands are finding it challenging to gain consumer trust in the long run. Brands need to find new and creative ways to engage continuously with consumers if they want to cut through the noise. Even the slightest hint of complacency can result in a decline in consumer trust, with even the most reliable and established brands capable of encountering challenges that spring a surprise.

To establish enduring trust, brands must stay attuned to the evolving preferences of successive generations of consumers. On one side, there exists a segment of customers for whom trust remains deeply rooted in a brand's legacy and the experiences they have grown accustomed to over time. These consumers, often loyal to traditional brands, exhibit a hesitancy to venture into uncharted territory. On the other hand, the emergence of Generation Z signals a paradigm shift. According to the Edelman Trust Barometer 2023, a comprehensive study spanning 14 countries, India's Generation Z makes purchasing decisions influenced by a brand's engagement. This demographic goes beyond evaluating a brand solely on its products and services; they prioritize brands that not only deliver excellent products but also contribute to social good. This dichotomy in consumer attitudes underscores the evolving dynamics within the market, challenging brands to navigate the delicate balance between legacy and innovation to meet the diverse needs of their audience.