A new report, "Beyond Trust: Engaging Consumers in the Post-Recession World," defines "trust" and "recommendation," as the key ingredients to brand success. Amazon.com, a site where customer reviews influence buying decisions, is number one. To measure results, the researchers developed the TrustR factor; 27% of brands scored above average. Compare these results with another study of the most valued brands in the U.S. and you'll see two different lists.
The Top 10 Most Trusted and Recommended Brands in the U.S.
UPS (United Parcel Service)
Source: Millward Brown
Note: Study conducted over the course of 2009, prior to Toyota's recent recall
Millward Brown's "Beyond Trust" study also revealed:
- consumers spend less or no money on brands they don't trust in a tight economy
- the number one brand was nearly seven times more likely to be purchased
- consumers are 10 times more likely to have formed a strong bond with these brands
"When a person recommends a brand they put their own personal trust and credibility on the line. They are only willing to recommend brands which themselves have proven reliable and trustworthy," said Nigel Hollis, EVP and Chief Global Analyst of Millward Brown. "Amazon.com, the brand ranked first in the U.S. by TrustR, has achieved that status through exceptional service and providing its own recommendations to users. This combination has made Amazon the gold standard of trust and recommendation in the U.S."
The BrandFinance® Global 500's Most Valued Brands in the US
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Bank of America
Amazon - number 24
The top 10 most trusted and top 10 most valued brand lists are different. What do you think? Would you rather be most valued or most trusted? How does PR affect value and trust?
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