Brand Trust in a Bad Economy
By Beth J. Bates, New Media Special Correspondent
I received an email yesterday advising me that Office Depot was closing 112 stores and that I should start stocking up on office supplies. I hadn’t heard the news of the closings so I looked it up on Google and got some information. Then I thought to myself, “Who sent me that email?” I went back and checked. It came from Staples.
There has been a lot of chatter lately about American Express and how they are conducting credit reviews on longtime customers who pay their bills on time. The reviews have been conducted in a less than professional manner and customers are extremely disappointed that American Express has decided to take issue with good customers.
Every year I purchase something from Omaha Steaks for my grandfather. He likes the food and loves getting the Styrofoam box from UPS. I’ve always had ongoing issues with their aggressive, borderline intrusive, direct marketing. Since I’ve placed my order, I’ve received no less than 1-2 emails per day even though I’ve opted out of their mailing list everyday.
In a bad economy, brand trust is everything. For consumers, every dollar counts and they not only want to purchase quality products but they want to have a good feeling about the company from which they are purchasing. Bad press or personal stories are going to make it more difficult for these companies to compete as consumers are truly thinking about to whom they give their hard earned dollars. And in this world of social media and immediate communication, stories of bad customer service and poor judgment are instantly viral through the web and email.
On the flip side, I’ve also found that I am personally recommending brands that I enjoy and trust to my friends and colleagues. I recently purchased a Love Sac chair and “sactional” and it was such a wonderful experience, I blogged about it. I needed the services of AAA to give my truck a jump and it was so pleasant, I jumped onto Twitter to tell my followers about it. The door swings both ways. Bad experiences. Good experiences. They are all being talked about and your customers are making decisions based upon what they hear.
What are people saying about your brand?
Beth J. Bates is a freelance social media strategist. Beth consults with Hinge on social media tool selection and strategy and helps its clients find effective ways to leverage these new mediums to meet business goals.
Filed under: Branding, Marketing in a Recession | Leave a Comment
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