Brands Are Built on Trust

McDonald's new UK vp of food and marketing made an interesting point during a recent interview with Marketing Week. Here's his quote:

Our evidence from talking to customers is that trust in our brand is higher than ever - last year we reached a point where more people trusted us than didn’t, which is important.

Brands are built on trust. The higher the trust, the stronger the brand--which increases the possibility that customers will be attracted to the brand and remain loyal over the long term. McDonald's keeps its brand promise with every transaction in every outlet around the world.

If a brand doesn't keep its promise, the loss of trust can be crippling or even fatal. When a scandal erupts, such as the recent revelation that high-end Da Vinci furniture sold in China as "made in Italy" was really made in China and had quality problems to boot, it's no wonder that consumers lose confidence in the brand. Brands can regain trust, but it takes time and a lot of effort to do so.

Remember, consumers are willing to pay a price premium for brands they trust. In other words, trust is a bottom-line issue. All you have to do is look at Fortune's list of the World's Most Admired Companies to see that the most admired firms--which market brands trusted by loyal customers--are generally highly profitable. McDonald's is #10 on that list. Apple is #1. Enough said!