Why Marketing Leaders Should Care About Brand Valuation
Learn why brand valuation is an essential tool for marketing leaders to measure long-term effectiveness and make informed strategic decisions. Explore more.
Marketers often think of "trusted" as an attribute of virtuous, purpose-driven brands. But the 2021 Widen Connectivity Report offers a new perspective on trust in brands, finding that objective product data can win or lose consumer trust at the point of sale. Product information includes the product data, marketing content, and digital assets that brands use to describe and market their goods. Visual assets and content are like the sugar and butter in a cookie; they provide the flavor that makes you crave the cookie. Product data is like the flavorless eggs that prevent fresh-baked cookies from crumbling: It is objective and it holds together emotive, aspirational claims about a product.
The importance of production information led to the assumption that marketers would say they could control it. However, only 36% claimed to have "very high" control over the product information their brand publishes on external e-commerce sites, and only slightly more than half, 55%, told us they have "very high" control over product information published on their own website. There is a mismatch between the power of product information and a marketer's ability to shape and use it.
Even if marketers had control over product data, they lack effective tools for the job. This takes time that leaves no space to mine product data for insights and stories about the brand's impact. Trust is not a top-down attribute, but is the work of numerous marketers, product developers, engineers, merchandisers, and others who collaborate to bring a product to market. Trust depends on the consistency of mundane but meaningful actions that require ongoing attention and maintenance.
Objective Product Data: An Underrated Driver of Trust and Storytelling
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