Consumers believe that honesty and authenticity are the top attributes for brands to display, particularly to Millennials, this according to new studies by Mindshare North America and Cohn & Wolfe.
The desire for openness and authenticity from brands can be juxtaposed against other research finding that the public’s trust in major corporations is declining, and that advertising practitioners suffer from lower honesty ratings than auto mechanics.
Against this backdrop of skepticism and shortage of trust, it is no wonder that consumers are looking for authenticity from brands.
A recent study from Cohn & Wolfe confirms this, which found that 63% of consumers surveyed across 12 global markets would buy from a company they recognize as authentic over and above its competitors.
Moreover, 6 in 10 would recommend an authentic organization to family and friends.
A leading 91% of respondents agreed that it is important for companies to communicate honestly about their products and services, and 87% agreed that companies should act with integrity all the time.
By comparison, only 6 in 10 felt that it is important that companies have products or services they cannot live without.
A new study from Mindshare North America finds that it is vital that brands communicate their good intentions to Millennials, for whom “friendship values” are a building block of identity.
Among the 1,000 Millennials aged 18-34 who participated in the study, a majority believe that the following show that brands have good intentions:
Supports employees (62%);
Follows through (57%);
Puts people over profits (57%);
Works for a better world (54%); and
Helps people (52%).