The Consumer Goods Forum and global change Futerra have launched “The Honest Product Guide”, in association with the Chartered Institute of Marketing, whom Dorota Iwankiewicz from DM2Agency is a Fellow member. This comes in answer to global consumers’ hunger for more transparency about the #social, #health and #environmental and #safety credentials of products.
42% of people globally don’t know which companies or brands to trust.
(Edelman Trust Barometer)
73%: almost 3 in 4 consumers would be willing to pay more for a product that offers complete transparency. (Label Insight Transparency)
This Guide is a really good event for #NeuroMarketing specialists like DM2 Agency!
Thanks to neuroscience we know what makes human beings trust each other. In short version: oxytocin is commonly known as the ‘love’ hormone, released when we feel a close bond to someone, but it could just as well be called the ‘trust’ hormone, because it reduces stress and makes us feel closer, even to strangers. Ultimately, “the goal of radical product honesty should be to unleash oxytocin, reduce consumer stress and increase their happiness and confidence” – as you can read practical tips in this Guide.
Be aware, global consumers are seeking more transparency of the products they buy (70%), rather than the companies that made them (30%)! It is a growing trend (90-95%
“The secret to human trust is vulnerability – something that companies will need to become increasingly comfortable with if they are to engage with the modern consumer. Being a trustworthy person requires giving trust first, taking risks and standing for the value of honesty. Human trust isn’t a tradable commodity; it’s an #EmotionalValue.” as Futerra team explains.
And emotions are a power of effective #JoinedUpStrategy! Dorota Iwankiewicz FCIM agrees with Chris Daly’s, CIM’s chief executive, statement:
“Marketing is about long-term trust and loyalty.”
“Consumers want evidence and consistent results. You don’t do this for a single #MarketingCampaign – it’s all about gaining trust and loyalty over the long term.”
Bring honesty: product #package, company #website, #advertising, #POS, reports
We are witnessed that transparency is moving control further into consumers’ hands. Hence, brands have to take honesty to the core of their business. Moreover, take on board other “demand” based on researches:
“brands have to build consumer loyalty with radical transparency – not kooky #branding.”
#DM2Agency is proud to cooperate with companies awarded for trust, e.g. Cadbury Schweppes or Unicredit Banking Group – Pioneer Pekao Investments or Philip Morris.
Let’s talk about this theory and demands in practice: firstname.lastname@example.org