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What is the mark of a good business?
Is it the consistent increase in sales; the continued accumulation of assets or a financial statement that will keep investors smiling?
Five or ten years ago, these figures may be enough, but in the current business landscape, there is one other factor that has become critical in building a strong foundation– Trust.
TRUST has become a “high-value” currency that is accepted globally outweighing the value of any monetary conversion. Gone are the days when people just look at the lavish office buildings when choosing their banks, on shiny new equipment of service centers or rely on commercials and celebrity endorsers when deciding which brand to purchase.
Today, trust plays a crucial element when consumers make a decision–and with the widespread ubiquity of the internet and social media, the importance of establishing a good reputation has only become more pronounced.
Companies can recover from decreasing profits or a downtrend in sales, but when its consumers lose confidence it can result in irreparable damage regardless of how old a brand is.
Trust is that one factor that remains constant. Once trust is established, it becomes an instinctive response – the consumer buys the brand without so much as a second thought because they can relate to it as “their” brand.
Trust is the ultimate vote of confidence. For businesses it is a forward-facing measure imbued with expectation, promise and satisfaction and a solid reputation of distinction.
For consumers, the mark of a Trusted Brand fosters loyalty and a relationship that goes far beyond price, trends and marketing campaigns.
MOST TRUSTED SURVEY
Now on its 18th year, Reader’s Digest, one of the longest running print publications in the world, will again honor the products and services that Filipinos trust most. The Trusted Brands 2016 Awards ceremony will be held on June 30, 2016 at the ballroom A of the Marco Polo Hotel in Ortigas, Pasig.
Renowned motivational speaker and business influencer, Ms. Anna Esperanza will be the keynote speaker while Reader’s Digest Asia Pacific Mr. Walter Beyleveldt, Managing Director of Readers Digest Asia Pacific and Ms. Sheron White, Group Advertising & Retail Sales Director, Asia Pacificwill be personally awarding the trophies to the winners.
Reader’s Digest has approached ordinary Filipino consumers to ask their opinions on what brands of products and services are important to them.
For the 2016 Trusted Brand Survey, Readers Digest has commissioned global market research company CATALYST to survey a representative sample of people in the Philippines about the companies they truly believe. The survey covers 44categories of products and services across a wide range of industries.
Approximately 8,000 individuals were selected across 5 of Asia’s key markets such as the Philippines, HongKong, Malaysia, Singapore and Taiwan.
Around 1000 respondents were surveyed in the Philippines. Half were subscribers to Reader’s Digest, while the remainder were selected to reflect the demographics of the general population.
Each respondent was required to complete a questionnaire or participate in a mail, face to face, telephone or online survey. Queried participants are to mention the name of their most trusted brands and then rate each of brands listed based the following six attributes: Trustworthiness, Credibility, Quality, Value, Understanding of Customer Needs, Innovation and Social Responsibility. This year the awards will be presented in each of the 44categories.
GOLD Trusted Brands Awards – will be given to brands that scored significantly higher than their rivals.
PLATINUM Trusted Brands Awards – will be given to brands that performed exceptionally, winning their category with a score that vastly outpolled their nearest competitor.
ASIA TRUSTED Brand Awards will be given to a brand that wins the Reader’s Digest Trusted Brand award in the same category for at least three countries surveyed.
Special awards will also be given out to the Most Trusted TV News Presenter; Radio Presenter; Entertainment Presenter as well as Marketing Excellence Awards.
Recipients of the Trusted Brand awards will receive given a Trophy and will be allowed to use the globally recognized Trusted Brand Logo in their marketing collaterals and merchandising materials.