Harnessing the

power of trust

HuTrust® is the copyright and trademark of ifm in-depth research and strategies pty ltd and Stefan Grafe.
HuTrust® and the six drivers of trust may not be used without express permission by the copyright holder.

Images © iStockphotos and Stock.XCHNG

Trust is the most fundamental driver for human engagement.
It’s what makes us want to be with one another.
We all inherently know the importance of trust.
 from our food…

Image © iStockphotos
 …to friends…

Image © iStockphotos
…to investment decisions

Image © iStockphotos
Without trust
we would not be
able to function.

Image © iStockphotos
“ You can have all the facts and figures, all the
supporting
pp g evidence,, all the endorsement that yyou want,,
but if at the end of the day you don’t command trust, you
won’t get anywhere.”
Niall Fitzgerald (2001)
Former Chairman and CEO of Unilever
Current Chairman of Reuters
 But trust is not just
warm and fuzzy

Image © Stock.XCHNG
 Trust delivers immense
commercial value for
b i
businesses andd brands
b d

With HuTrust® we have helped clients

achieve up to 36% sales improvement

Image © iStockphotos
 Global studies by The Henley Centre
Centre,
Concerto Marketing and mext confirm
the commercial significance
Mext & Concerto study,
study 1750 people
people.

If people
l trust
t t a brand…
b d
Image © Stock.XCHNG
 82%
will use its products frequently

Image © Stock.XCHNG
 78%
will look to it first for the things they want

Image © Stock.XCHNG
 78%
will give its new products and services a chance

Image © iStockphotos
 47%
will pay more for its products or services

Image © iStockphotos
 74%
Believe it will inform them about products and services they’ll like

Image © iStockphotos
 83%
will recommend it to others

Image © iStockphotos
 Recommendation and trust are
virtually one and the same.

Correlation
‘recommendation’ & ‘trust’
up to

0 92
0.92
Imagine what that does to your NPS
Business growth is built on trust.

Image © iStockphotos
 Millward Brown confirm that
highly trusted and recommended
brands are seven times
more likely to be bought
(2009 Trust® study)

Image © Stock.XCHNG
 In effect if you want people to :

buy more
try more,
pay more

then harnessing trust is the key

Image © Stock.XCHNG
But:
How do I build & steer trust?
“How
And how do I ask my CFO
for money for it?”
it?
Image © iStockphotos
 We used the most modern p psychology
y gy thinking
g
to understand what trust actually is and how it forms.

Image © iStockphotos
More important
p than being
g more or less trusted is

being trusted for the right things.

Six things. The 6 facets of trust…

Trust Facet 1: Stability

You must have clear roots

Image © iStockphotos
 Trust Facet 2: Development

You must show you will develop & and take leadership

Image © iStockphotos
Trust Facet 3: Relationship

You need to offer an attractive

kind of relationship.

Image © iStockphotos
 Trust Facet 4 : Benefit

You need to deliver

a compelling benefit.

Image © iStockphotos
Trust Facet 5 : Vision
What aspiration or image
do you pursue? How is that
attractive?

Image © iStockphotos
Trust Facet 6: Competence
p

You must show

what competences you have
and portray competitiveness

Image © iStockphotos
The result is HuTrust® (Human Trust)
Trust).
The psychologically correct model of the 6 facets of
trust…

…and their interaction.

Relationship Vision

Stability Development

Benefit Competence
Quantitative analysis shows that the 6 trust facets
strongly
g y contribute to trusting
g

Trust Driver Weighted

g Average
g

Stability 0.70

Development 0.73

Relationship 0.76

Benefit 0.74

Vision 0.79

Competence 0.81

AOR Finance Survey, Australian General Population 1,110 sample, 2010

All facets are equally important to forming trust

Trust Driver Weighted

g Average
g

Stability 0.70

Development 0.73

Relationship 0.76

Benefit 0.74

Vision 0.79

Competence 0.81

AOR Finance Survey, Australian General Population 1,110 sample, 2010

So, how can you start to harness
the power of trust?
 Think of it as a raw diamond

Image © iStockphotos
Step 1
Analyse your and
your competitor
competitor’s
s
strengths, weaknesses
and opportunities

+- -
- +-
+ +-
Image © iStockphotos
 Step 2
Eliminate flaws and
precisely define and
cut your trust facets

+ +
+ +
+ +
Image © iStockphotos
 Step 3
Take HuTrust®
for a test drive
Example:
With one client we defined the vision
as ‘getting in touch’, but found in the
qualitative evaluation that changing
this to ‘better
better connecting’
connecting was far more
powerful.
Vision: Getting in touch Better connecting

Image © iStockphotos Image © iStockphotos

Step 4
Validate the appeal
Example:
After optimising the HuTrust® facets
for a client we quantified their impact
on the target audience with regards to
impact on trusting and actual choice.

Image © iStockphotos
Step 5
Execute
Example:
Working with the client’s product
development marketing
development, marketing, sales
sales, PR
and marketing team as well as their
agencies we developed an integrated
brand experience framework for the
next 5 years.

Image © iStockphotos
Step 6
Track success
Example:
In this example the focused HuTrust®
facets trend upwards
upwards. So does trust
overall.
Usage consideration improved by 25%
and actual usage in the key target
audiences by up to 11% after 9 months.
In other cases we achieved up to 36% Level of trust before and
ROI improvement.
i t after.
f Scale
S 1-5.

Although already a highly trusted

brand, each HuTrust® facet and
overall trust improved.
Intuitively we know how important trust is.
We now know statistically and practically how important trust
is to you and your business.
And you now know how it works and who to turn to if you are
serious
i about
b th harnessing
i ththe power off ttrust.
t
 About mext

Mext help clients Who we are:

Founded in 2004

grow with vision, Offices in Australia, Singapore and Germany

Partners in North America and The Netherlands

precision and Local native speaking staff and market intelligence

certainty What we do:

Utilising trust to help clients achieve ROI improvements of
up to 36%
by h
b helping
l i th
them build
b ild
trust in their brands, Who we work with:
Industries Functions
business and people. FMCG Brand & Marketing
Financial Services Sales & Customer Service
Telco & Media Human Resources

Scientifically robust, Travel

Industry
practically proven, NGO

inspiring and effective How we work with clients:

www.mextconsulting.com Research
Consulting
Training

Contact
Canada & US (Concerto Marketing) Europe South East Asia Australia & New Zealand
Nick Black B b
Barbara Grohsgart
G h t L
Laurenz Koehler
K hl Stefan Grafe
G afe
T: +604 684 8933 T: +49 2219403338 T: +65 6323 3340 T: +61 3 9428 5417
E: nblack@concertomarketing.com E: Barbara.grohsgart@mextconsulting.com E: Laurenz.koehler@mextconsulting.com E: Stefan.grafe@mextconsulting.com

41