In the aftermath of recent events, consumer trust in marketing and brands in general is very low. According to a PwC survey (taken in September 2017) consumers have more trust in banks and insurance firms than they do in advertisers and marketers.
Just 6% of the US respondents reportedly trust media entertainment and social media companies, and just 3% trust marketing and advertising firms…
This lack of trust must be addressed by the whole industry, and every agency, advertiser and marketer can play their part. We take a look at three ways that brands can halt the disappearance of consumer trust.
Programmatic advertising means that brands can follow and connect with consumers all over the internet, but, as Nicole Perrin from eMarketer points out,
“The rise of audience targeting has allowed brands to follow their customers wherever they go—but that has led those brands into some unsavory places.”
To avoid having your brand appearing in inappropriate or unsafe places, brands can take their programmatic media buying in-house. Shift programmatic spend towards premium publishing partners through programmatic direct buys rather than real-time bidding, and favour private exchanges rather than open exchanges.
It is also possible to whitelist sites that are good options for your brand, and to blacklist those that are not.
Brands should more heavily use their own first-party data, rather than third-party data, as third-party has proven to be unreliable. First-party data does not rely on inferences, instead it builds a direct relationship between the brand and their consumers.
Personalisation needs to add value to the customer experience, without ever becoming creepy or overwhelming to the consumer. Although this will mean different things to different brands and people, if brands focus on using data to delight the customer in the long-run, rather than to make a quick sale, it will more likely than not be the best approach.