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Among the top 20 Authentic 100 brands gracing the list are Disney, Amazon, Apple, Samsung, Lego, Ford, Google, and Coca-Cola.
Global communications agency, Cohn & Wolfe, has unveiled its inaugural Authentic 100 platform, an annual index of global brands ranked by consumer perception of authenticity. Among the top 20 brands gracing the maiden list are Disney, Amazon, Apple, Samsung, Lego, Ford, Google, and Coca-Cola.
The 2016 study defines what consumers believe are the individual attributes of authentic behaviour and whether a brand displaying these attributes will affect the actions of consumers. It identifies a large ‘authenticity gap’ between brands and consumers, with 75 percent of nearly 12,000 consumers surveyed across 14 markets. The research done showed that brands and companies have a credibility problem. Key findings include:
High Global Cynicism: Consumer cynicism is highest in Western Europe, with only seven percent of those surveyed in the UK, France, Germany, and Spain—and a mere five percent in Sweden—describing brands as “open and honest.” In the least cynical countries, China and Indonesia, that number only climbs to 36 percent and 35 percent, respectively. Americans fall somewhere in the middle, and closer to the global average of 22 percent, with less than a quarter of Americans (23 percent) seeing brands as honest.
Privacy Matters: Given the recent public standoff between Apple (fifth on the global Authentic 100) and the United States FBI over encryption technologies, it is worth noting that privacy concerns are now seen as a core component of what makes a brand authentic in the eyes of consumers. Globally, “protecting customer data and privacy” ranked as the fourth most important attribute of authenticity today.
The Authenticity Opportunity: Nearly nine out of 10 consumers are willing to take action to reward a brand for its authenticity, including 52 percent who would recommend the brand to others and 49 percent who would pledge loyalty to the brand. Twenty percent would be prepared to put their money on the table and invest in a brand that proves its authenticity.
Authenticity as a Personal Experience: Consumers are looking for daily, real-life reminders that they can count on brands. In defining authenticity, they prioritise “high quality” (66 percent) and “delivering on promises” (70%) over more lofty measures like “social responsibility” (57 percent) and “environmental responsibility” (55 percent).
“The rules of communication have irrevocably changed, and we’re seeing consumers reward brands that understand how to engage with them openly and honestly. In fact, consumers will forgive the occasional corporate misstep if a company is upfront, and addresses the issue head-on,” said Donna Imperato, CEO at Cohn & Wolfe.
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