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In Amazon We Trust While Toyota Is A TBD

Some more Monday morning research for you to consider while getting back into work mode. A report from Millward Brown takes a look at the top trusted brands in the US based on trust and recommendation. These factors are combined into what the researchers call “TrustR” which is a new metric for understanding and strengthening the bond between consumers and brands. In this day and age where trust is more elusive than ever since it appears that saying whatever needs to be said to get out of any situation is more than OK, we will need some measurement of a brand’s trust level.

So who are the big winners according to Millward Brown?

This number was arrived at by using the following formula

TrustR is calculated by looking at consumer responses to the questions “how trustworthy is this brand?” and “would you recommend this brand?” The scores are indexed and combined to reach a TrustR score. The average score is 100, and anything over 105 is considered “good.”

Now, as you can see I have highlighted what I will call the “Toyota factor”. This data was collected before the recall shenanigans of Toyota (who apparently saved some nice coin by holding off any admission of issues) so this says two things. 1) Toyota was definitely a trusted brand before the recall and 2) It’s a safe bet that v2 of this study will be out in short order to see just what Toyota did to their TrustR (sounds painful doesn’t it?).

So what is your opinion of Toyota now that the full story is coming to bear? Would you expect their position in this chart to change after the recall incident? What have they done to the trust in their brand? Will people trust them more (which I have heard from some folks) or will there be suspicion because of the news of their history of delay tactics with regard to safety issues? What will their TrustR score be now?

  • Dean

    Of course Toyota will take a huge hit. I am a Toyota guy but this unfolding story has changed my opinion of them completely. The #1 rule in corporate crisis management is to get out in front of the story, be honest, and take accountability – and Toyota failed miserably on this and will suffer as a result. As Richard Nixon said “It’s not the crime, it’s the cover-up”.

  • http://www.mouse-mat.com Mat

    toyota? trust? you gotta be kiddin :-D

  • http://www.mediabadger.com GIles (Webconomist)

    Maple Leaf in Canada was slammed with bad meat, Tylenol got hit in the 80′s (OK, no SocMed impact back then) and Motrin last year; all big brands. All eventually rebound.

    They’ll take some form of hit, but not as dramatic as some may suspect or predict. Honda I suspect, if they don’t have any huge recalls, will take lead for a short time, but Toyota will rebound, meanwhile still making a profit.
    .-= GIles (Webconomist)´s last blog ..Social Media and Banks: An Emotional Place =-.

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  • Dean

    @Gilles and social media enthusiasts everywhere -

    RE: “(OK, no SocMed impact back then)”

    Can we get off the “Social Media is the be all to end all for reputation management” talk? You don’t think people heard about or talked about Tylenol in the 80′s just because Twitter wasn’t around? You think Exxon was spared damage from the Valdez oil spill because Facebook wasn’t there to let people know about the Oil spill? You don’t think I heard about the falling of the Berlin Wall because someone wasn’t there to send me a Tweet?

    I hate to break it to you but from carrier pigeons, to smoke signals, to the mail service, to telephone/telegraphs, radio, TV, Internet, Email, Instant Message etc. news about important events have been effectively communicated to the masses for hundreds of years. Social media is just the continued evolution of the communication medium, that’s it. It may shock you but I heard about the Toyota recall on this thing called the Internet, my Mom heard about it on this thing called a TV. The guy next door read it in the newspaper (yes the newspaper). My kid heard about it at school. All I gleaned from Twitter was basically “RT @whoever OMG! Toyota just announced another recall, they are so F’d [totally agree!]

    Let’s just all back away from the social media juice for a second.

    There, I said it, I’m glad

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