The survey by Brand Equity’s most trusted brands is out.
It does not throw big surprises.
The first ten most trusted brands in India for 2016 are as follows:
6.Fair & Lovely
10. Surf Excel
Why do people trust brands?
Why some brands lock with their consumers without losing the grip?
The level of trust has gone down-consumers have less and less trust on brands
Gaining consumers to trust you is a long term game –Colgate retains its pioneer position due to consistent consumer connect and innovation.
But there are some key traits which are visible across all successful brands.
and some new trends are emerging in a big way
Brands have build trust due to its continuous customer connect initiatives.
Colgate is a perfect example where long-running consumer connect initiatives have locked consumers to the brand.
Colgate has run oral health month for last 13 years in partnership with Indian Dental association (IDA), And has touched 30 million people with free dental check ups.
Colgate’s Bright Smiles, Bright Future, a global programme which is running for last 40 years in India, focuses on oral care awareness in children.And this programme has reached 135 million children.
Colgate is 80 years old in India and has a staggering 55 % market share and is the most trusted brand in spite of vicious attacks from Patanjali and other competitive brands.
Similarly, brands like Horlicks, Head & shoulders, Amul Tata tea and Fevicol have connected to the users in a new and refreshing ways and consumers have given a thumbs up to these very active brands.
The top brand Colgate also has been proactive in coming out with new products like Colgateved shakti, Colgate pain out- an indigenously developed ayurvedic remedy for quick pain relief.
Samsung mobile, in spite of having a terrible year with their flagship brand Galaxy note 7 exploding and getting a bad press- went on to become the 2nd most trusted brand as it launched 16 new products in 2016.
Apple is another brand, which keeps on improving its own technology.
Every time, a new product is launched by apple, there is a huge excitement and people wait for hours to buy their new offering.
I-phone 7, I phone 7plus, and now apple is working on driverless cars.
Consumers trust companies, which are not static.
Continuous Product improvement, new product launches, innovative ways to promote your products increase their trust rating among users.
All trusted brands create compelling stories which resonate with their customers.
These brands not only tell relevant stories, they also entertain their customers.
Airtel has become the 3rd most trusted brand, as they are able to tell relevant stories to their customers apart from giving great customer service.
Vodafone, idea mobile, Pepsi, Coca-Cola, Amul, Kurkure, Vicks, Jhonson &Jhonsons, Cadbury chocolates.
They all tell beautiful stories, which are relevant and entertaining.
The truth is that people don’t buy products they buy stories.
Marketing is all about telling good stories.
All good companies know this.
The trust starts after you have made the sale.
Airtel has been ranked as 3rd most trusted brand.
This is in the era of price wars and stiff competition.
Gopal Vittal, Md & CEO (India & south Asia) of Bharti Airtel says “ Our entire focus has been declaring war on failure. We have pivoted the organisation to be obsessed with eliminating customer frustration”
When the focus changes to “winning customer for life” you start winning the number game as well as the trust game.
When organisations start providing warmth and responsiveness to customers- consumers start reciprocating.
They want to believe that the company will take care, even if something goes wrong.
Their complaints will be heard, the faulty products will be replaced.
The customer care person will be warm and polite.
Vodafone, Samsung, Apple LG, Idea, Hero, Honda, Big Bazaar, Sony, Maruti, Tata Docomo, ICICI bank, Tata motors and many such companies provide warm and responsive customer care service, which results in customers trusting the brands.
The brand is credibility.
Brand is the trust your customers have in you.
There was a time when consumers equated Indian products with poor quality.
The surprising element in this list of “100 most trusted brands” have been that more and more Indian brands are featuring in.
Indian companies are focusing on making quality products, launching new and innovative products and providing great customer service.
State bank of India (rank 5),Tata salt(7); Big Bazaar (14 ); Frooty (23); Amul (29); Dabur (34); Moov (35)BSNL (37); Tata Tea (38); Cinthol (47);Boroplus (54); Fevicol (56): Rasna (65); Haldiram (68); Patanjali (69) ; Bank of India(74) ; Fevikwik (75)
Patanjali(69) has barged into first 100 clubs for the first time and Reliance Jio ( 83) has come into this group within 2 months of its launch.
This report also shows that trust doesn’t come with the high valuation.
This report is also a reality check for any Bansal or Bahls.
Flipkart, Amazon and Snapdeal languish outside top 100 lists of most trusted brands.
How to become a most trusted brand.?
All answers are obvious.
Source: Economic Times, Brand Equity