Observed Signal · Nov 8, 2024 · Other · Source: CMSWire · Impact: 2/5 · Sentiment: Neutral
How to Measure Brand Trust Without Relying on NPS
This CMSWire article by Eric Karofsky discusses the importance of measuring brand trust beyond Net Promoter Score (NPS). It highlights that NPS only captures short-term sentiment, while brand trust offers a more comprehensive view of loyalty, advocacy, and resilience. The article presents several frameworks, including Edelman's Trust Barometer, the HX TrustID Survey from Harvard Business Review and Deloitte (based on humanity, transparency, capability, reliability), and The Trust Equation (credibility, reliability, intimacy, self-orientation). It also mentions a U.S. government Executive Order from 2021 on rebuilding trust through customer experience. The author recommends a multi-faceted approach combining qualitative research, surveys, and analytics, and advises brands to activate these insights through a cross-functional trust council and consistent communication.
Provides practical frameworks for measuring brand trust, relevant to CX and VoC strategies, but not an industry-shifting event.
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Key Takeaways & Evidence Grounding
- Edelman's 2020 Trust Barometer found that 75% of people with high brand trust say they will buy the brand's product even if it isn't the cheapest.
- 60% of people with high brand trust are comfortable sharing personal information and pay attention to the brand's communications.
- 78% of people with high brand trust will likely share or repost brand content and recommend the brand to others.
- The HX TrustID Survey (2022) by Harvard Business Review and Deloitte measures trust via humanity, transparency, capability, and reliability.
- The Trust Equation (2000) by Charles H. Green, Andrea P. Howe, and David H. Maister defines trust as credibility, reliability, intimacy, and self-orientation.
- A U.S. Executive Order in December 2021 aimed to rebuild government trust through improved customer experience, introducing a single-question Likert scale metric.
Connected Companies & Entities
3 Entities mapped“Edelman’s 2020 Trust Barometer highlighted the importance of trust to brands across the themes of loyalty, engagement and advocacy....”
“In 2022, the Harvard Business Review and Deloitte released the HX TrustID Survey, which offers a more comprehensive look at measuring brand ...”
“In 2022, the Harvard Business Review and Deloitte released the HX TrustID Survey....”
Ontology Mapping & Concepts
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
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