Report: Consumers trust businesses less

A recent survey from Gallup and the Better Business Bureau should cause most businesses to take a second look at their policies - and their advertising - because consumers are losing trust very quickly. According to the report, in a seven month period trust in thirteen of fifteen industries dropped by nearly 15%. Even more disturbing is that 47% of consumers say they have "very little or no" trust in business.

by Kristina Knight

Why? Because of policies and the bad headlines surrounding some key industries, specifically the automotive and real estate industries. Banks are also losing consumer trust quickly.

"It is simply shocking that only 33% or less of Americans report having a "great deal" or "quite a lot of trust" in eleven of fifteen industries measured in the survey," said Steve Cole, president and CEO of the Council of Better Business Bureaus.

How can marketers change the way consumers are feeling? A lot of the trust issues have to do with policies that businesses have, so marketers need to set themselves apart, especially if they have a better or new way of doing things. How can you get that message across? Through marketing.

Include changes to policies, outline exactly what consumers can expect from your brand and give consumers an easy way to contact you with a problem. These simple things can be explained through website content or as part of an email marketing campaign; the information should be included in most communications with consumers so that the right message reaches the consumers an optimal amount of time.