#PitchBrandTalk 2024 | Mastering Brand Salience and Trust Among Tech-Savvy Audiences

Brief Summary

This panel discussion explores the critical role of brand trust in today's market, focusing on how established brands build and maintain trust with both new and existing audiences. The panelists share insights on authenticity, consistent customer experience, and the strategic use of communication channels to combat misinformation and build credibility. They also discuss the importance of aligning innovation with consumer needs and providing genuine utility through technology.

• Building and maintaining brand trust requires consistent effort across all customer interactions.
• Authenticity and transparency in communication are crucial for establishing credibility.
• Understanding and addressing consumer needs through innovation is key to long-term success.

Intro and Hypothetical Brand Diversification

The panel begins with an anecdote about Michelin, highlighting its unexpected transition from tire manufacturing to restaurant reviews, illustrating the potential for brands to diversify into seemingly unrelated sectors. The moderator asks the panelists where they would take their brands if they could enter a completely different business. Vivo expresses interest in the automobile industry due to its potential for innovation. HP would venture into the kids' segment, emphasizing the need for trust in that area. MG would focus on becoming a tech company, solving consumer problems through technology.

Building and Maintaining Brand Trust

The discussion shifts to the core topic of brand trust, emphasizing that trust is built over years but can be broken in seconds. The panelists discuss the steps required to build trust with a new audience and maintain it with the core audience. HP emphasizes that trust is earned through every interaction with the customer, from initial communication to after-sales service. Vivo highlights its 10-year journey in India, overcoming challenges related to its Chinese background by consistently delivering on its promises and providing reliable after-sales service. MG stresses the importance of authenticity and listening to customer feedback, particularly in the automotive industry where word-of-mouth referrals are crucial.

Communication Channels and Building Trust

The panel explores how brands can use current communication channels to build trust, addressing the challenges of leaks, rumors, and misinformation. MG notes that leaks are common in the automotive industry due to product testing, but authenticity is key. They also highlight the growing influence of new-age creators and the importance of influencer marketing for product recommendations. HP emphasizes the need for brands to build enough trust for recommendations to have merit, focusing on user-generated content, communities, and credible publishers. Vivo discusses the importance of channelizing communications to build authenticity, using actual consumers to showcase product capabilities.

Communicating Innovation and Building Trust

The discussion focuses on how to communicate innovation effectively and build trust around new technologies. Vivo emphasizes the importance of involving actual consumers in showcasing innovations, using key opinion leaders (KOLs) to demonstrate real-world applications. HP stresses the need to be patient with innovation, focusing on consumer education and creating use cases that demonstrate the value of new technologies. MG highlights the importance of defining the utility of technology for consumers, ensuring that innovations solve real problems and provide tangible benefits. The panel concludes by emphasizing the need for brands to listen to customer feedback and adapt their products to meet evolving needs.