With lockdown measures continuing to impact how brands position themselves in the market, a new study done by Qualtrics revealed more than 80% of people believe it’s important for brands to take care of their employees and customers, and to not take advantage of the crisis to maximize profits.
A similar sentiment showed when respondents were asked what behaviors increase trust during the crisis. In Singapore, not taking advantage of a crisis was the top-ranked attribute (42%), followed by maintaining reasonable pricing (40%) and taking care of employees (37%).
What respondents found less impactful were messages of hope and optimism (14%) or even statements about providing new products and solutions (10%).
During the COVID-19 outbreak, trust in government has improved, with 50% of Singapore respondents saying their trust in the government has increased.
“Trust has a fundamental role to play as businesses begin to reopen their doors and rebuild operations. In these uncertain times, high levels of trust mean consumers can feel confident in choosing to engage with your brand,” said Lisa Khatri, Brand Experience and Research Lead for Qualtrics in APJ.
“While the operational impact of the restrictions is temporary, their influence on consumer behaviors and attitudes will be long-lasting. Over the last month, we have seen huge changes in the ways consumers engage with brands, and these will continue to evolve each time restrictions change.”
For businesses to remain relevant, they need to understand how each shift impacts the drivers of brand trust, and how their actions at each stage can positively influence how the brand is viewed, Lisa adds.