Brand differentiation is a challenge for many businesses, especially in markets where the products or services are similar or commoditised. How can you stand out from the crowd and attract loyal customers?
One way to do this is by leveraging brand trust differentiation. This is a strategy that focuses on the specific factors that make customers trust your brand over your competitors. It goes beyond the superficial aspects of personality or values and dives into the core reasons why customers choose you.
What is Brand Trust Differentiation?
Brand trust differentiation is based on the idea that different brands have different trust drivers or the attributes that customers consider most important to trust a brand. For example, some customers may trust a brand for its quality hygiene factors, while others may trust it for its innovation, or attitude.
By identifying and emphasising your brand’s unique trust drivers, you can create a distinctive and compelling value proposition that resonates with your target audience. You can also use your trust drivers to guide your marketing and communication strategies, as well as your product development and improvement.
How to Identify Your Brand Trust Drivers
To find out what your brand trust drivers are, you need to conduct some research on your current and potential customers.
One tool that can help you with this process is TrustLogic®, which offers a comprehensive platform for measuring and managing brand trust. It allows you to examine your trust systematically. It inspires you to go beyond the basic ‘what customers need to trust for’ and ask ‘what customers would love to trust for’. Trust us, it’s game-changing. TrustLogic® uses the intuitive The Six Buckets of Trust®, which categorises the trust drivers into six distinct dimensions:
Stability Trust: Why can I trust you to have built a strong and stable foundation?
Relationship Trust: How well does your brand relate to people like me?
Benefit Trust: The tangible and intangible benefits.
Vision Trust: What vision and values do you stand for?
Competence Trust: What competencies can I trust you for?
Development Trust: Why can I trust you to develop well in the future?
TrustLogic® helps you measure and analyse the trust drivers for your brand and your competitors and provides you with actionable insights and recommendations to improve your brand trust differentiation.
Although it is often said that the big four banks in Australia are the same, here we see that they differentiate strongly in ‘what customers want to trust each brand for’.
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