New consumer research released today by Millward Brown reveals that Trust and Recommendation “TrustR” are key ingredients to brand success. Colgate is the top performing brand on this metric in Australia.
Combined with insights from The Futures Company, the research forms part of a new report “Beyond Trust: Engaging Consumers in the Post-Recession World”. Across the 22 countries studied, the number one TrustR brand in each was nearly seven times more likely to be purchased and had a brand-consumer bond 10 times greater than average.
TrustR is a new metric for understanding and strengthening the bond between consumers and brands. It is calculated by looking at consumer responses to the questions “how trustworthy is this brand?” and “would you recommend this brand?”. The scores are indexed and combined to reach a TrustR score. The average score is 100 and any score over 105 is good. The Top 10 TrustR brands in Australia are:
Scoring brands on recommendation alone, the Australian Top 10 is led by Lindt, Clinique and Apple iPhone, closely followed by Credit Unions, Moccona, Vodafone, Virgin Mobile, Colgate, Pantene Pro V, and Mazda.
Commenting on the research, Daren Poole, Millward Brown’s Chief Client Officer said:
“We know that today’s consumers are more sceptical and less acquisitive. In this environment, consumers need greater justification for their purchase decisions and place an even greater value on trust. While trust is built over time, when it comes to recommending a brand, consumers tend to rely on their most recent experiences of the brand and its value proposition.
“The powerful combination of trust and recommendation is embodied in Colgate which, while a global brand, has adapted to the Australian market and become a clear leader. Interestingly, eight of the Australian TrustR Top 10 brands are global brands while Mt Franklin and Woolworths/Safeway are local brands that have successfully built a strong connection with local consumers,” said Mr Poole.
The full report is available exclusively to WPP clients, however, a summary version can be accessed here.
Bespoke TrustR Brand Workshops conducted by Millward Brown and The Futures Company are also available, please contact daren.poole@millwardbrown.com for further information.
ENDS
NOTE TO EDITORS: Daren Poole, Chief Client Officer, Millward Brown, is available for interviews on the TrustR scores for Australia.
About Millward Brown
Millward Brown (www.millwardbrown.com) is one of the world's leading research agencies and is expert in effective advertising, marketing communications, media and brand equity research. Through the use of an integrated suite of validated research solutions — both qualitative and quantitative — Millward Brown helps clients build strong brands and services. The company employs over 90 staff across Sydney and Melbourne, and has more than 78 offices in 51 countries. Additional practices include Millward Brown's Global Media Practice (media effectiveness unit), Millward Brown Optimor (focused on helping clients maximize the returns on their brand and marketing investments) and Dynamic Logic (the world leader in digital marketing effectiveness). Millward Brown is part of Kantar, WPP's insight, information and consultancy group.
About The Futures Company
The Futures Company anticipates changes in consumer attitudes and behaviours that can lead to new opportunities and value. It is also part of WPP, the world’s largest and most comprehensive network for consumer research, intelligence and communication.