In an era of widespread disinformation and consumer skepticism, marketers must re-evaluate their strategies to rebuild trust. This episode, featuring former PepsiCo and Visa exec Shiv Singh, delves into the psychological underpinnings of why brands are struggling to connect authentically with consumers. Learn how to navigate the "post-trust era" by focusing on genuine brand purpose and understanding the nuanced role of social media platforms.
Key takeaways
Understand the "post-trust era" where consumer skepticism is high due to disinformation and eroded faith in institutions. Brands must acknowledge and actively work to counter this environment.
Differentiate clearly between brand purpose (underlying mission and values) and brand equity (perceived value and recognition). A genuine commitment to purpose can significantly bolster brand equity.
Recognize the complex role of social media platforms like Facebook. While contributors to misinformation, they remain vital for engagement, requiring marketers to strategize for authentic communication amidst the noise.
Focus on transparency and authenticity in all marketing efforts to combat the perception of "fake companies" and rebuild consumer faith.
Leverage insights into consumer psychology to develop strategies that resonate on a deeper level and address underlying distrust.
For Shiv Singh, most of the industry's current problems come down to trust. That's the focus of the former PepsiCo and Visa marketing executive's new book, co-written with psychologist Rohini Luthra. The book, called "Savvy: Navigating Fake Companies, Fake Leaders and Fake News in the Post-Trust Era," is a deep dive into the business of marketing with a decidedly psychological bent. It focuses on disinformation campaigns in the Facebook era, the rise of fake news and what happens when people lose faith in institutions around them. On this week's episode of Making Marketing, Shareen Pathak sits down with Singh to discuss why brands today lack trust, the difference between brand purpose and brand equity and why he still likes Facebook.
Understand the "post-trust era" where consumer skepticism is high due to disinformation and eroded faith in institutions. Brands must acknowledge and actively work to counter this environment.
What does this episode say about founder & leadership?
Differentiate clearly between brand purpose (underlying mission and values) and brand equity (perceived value and recognition). A genuine commitment to purpose can significantly bolster brand equity.
What does this episode say about brand & content?
Recognize the complex role of social media platforms like Facebook. While contributors to misinformation, they remain vital for engagement, requiring marketers to strategize for authentic communication amidst the noise.
What does this episode say about brand & content?
Focus on transparency and authenticity in all marketing efforts to combat the perception of "fake companies" and rebuild consumer faith.
What does this episode say about brand & content?
Leverage insights into consumer psychology to develop strategies that resonate on a deeper level and address underlying distrust.
