How do brands gain the trust of consumers? BrandSpark tried to answer this question.
Name recognition won the day in the 2016 BrandSpark Most Trusted Awards, as brands such as Kraft, Kellogg's, and Folgers won big in their representative categories.
BrandSpark International​, a brand, marketing, and product innovation research company, put together the list by surveying more than 38,000 respondents between October and December 2015.
While many of these brands may not be associated with the best quality in each category, BrandSpark said these top CPG companies have built trust by offering a positive, consistent experience for consumers, thereby maintaining a strong sense of value. The brands are also more often able to offer experiences that bring in the majority of consumers in a category, rather than speaking to a niche audience.
In fact, the company said 68% of consumers are most liable to purchase new products from brands they trust the most. They added that 67% will specifically look for items from their trusted brand on sale rather than look for a generic store brand version.
Surprisingly, butter topped the loyalty list, with 66% of consumers said they will stick with Land O' Lakes, their preferred brands. Yogurt was similarly high, as consumers have built up a trust in Yoplait.
Top brands may have to watch out, as certain innovative products, such as Monster and Silk, have quickly risen to the top of consumer trust.
However, these up-and-coming brands will also likely have to fight to stay on top, as 43% of consumers told BrandSpark that they are less loyal to brands than they have bene in the past. The company said this makes it essential for brands to remind their consumers of the trusted relationship they have built over the years.
Also, it will be important for brands to know where they are selling, as different international markets have their own unique levels of loyalty. Turkey, as an example, has 71% of consumers that prefer to buy from a brand they trust, versus Mexico having 81% of consumers who tend to stick to a trusted brand.
Top companies were selected through consumers' "top of mind" ​responses for categories in which they purchase, the company said.