BusinessWeek last week published a story and video , ??he Great Trust Offensive,?about brand trust that was connected to our annual Best Global Brands report.
The focus of the story was how companies are refocusing a lot of efforts around winning, regaining or nurturing trust on the part of the consumer, who has become pretty disillusioned after a year of Recession, high unemployment, housing foreclsoures, the break-down of the credit markets, massive bailouts and the feeling that corporations in general have the system rigged to enjoy the riches when risk pays off, and lay off the downside on the tax-payer.
But in our weekly poll with The CMO Club, trust did not rank as high a priority as we might have thought. Instead, the responses we got spoke to enormous pressure to drive retail sales, which generally means advertising deals and discounts.
The CMO CLUB Weekly Poll Question: Which area have you had the largest increase in focus/resources in the 2nd half of 2009 vs. 1st half of 2009?
(September 17 – September 23, 2009)
106 CMOs responded:
42.8% Demand Generation
36.5% Sales Enablement
14.3% Brand Awareness and Consideration
6.4% Reputation/Trust Management
A few Quotes from CMOs in the club who responded:
“The pressure has never been greater to build the pipeline and help sales close deals. A number of branding initiatives are on hold until the economy turns around.”
“The trick is to combine sales/demand generation with branding. We are focused more and more on Branded demand generation.”
“We spent the last 6 months working on new positioning for the company. Early results have shown significant brand improvement and increased sales. Really thinking through your company position and how you want to engage with customers will increase sales and build your brand.”
“We need to think through improving customer trust in our company. We feel that providing value, changing our approach to servicing customers and ensuring all our employees are in sync with our new approach to service will improve the trust in our company. We don’t need specific reputation/trust programs.”
To learn more about The CMO Club, go to www.thecmoclub.com
The CMO CLUB Thought Leadership Summit, Nov. 12-13, San Francisco: www.regonline.com/cmoclubsummit
Sign up for “CMOs only” dinners at www.regonline.com/cmoclub_dinners