Australians' Laid-Back Reputation Hides The Truth About Our Ability … – Forrester

Marketing

Jinan Budge, VP, Principal Analyst
Sam Higgins, Principal Analyst
Riccardo Pasto, Principal Analyst
People are hardwired to trust other people and, by extension, the organizations they engage with. As an organization, your success or failure at earning and keeping trust ultimately determines not only the fate of your relationship with customers, employees, and partners but the future prospects of the organization itself.
But few business, political, or technical leaders truly understand the mechanics of trust and how to benefit from it. Cue Forrester’s “trust imperative” research in 2021, which provided a concrete model for organizations to strengthen trust in their brand and build enduring bonds with customers. The research also identified seven levers of trust (accountability, consistency, competence, dependability, empathy, integrity, and transparency) that enable organizations to define an optimal mix across these levers, depending on their business model.
This year, the research team in Australia banded together to examine the state of trust in Australia in 2022 (Forrester clients can read more here). Our goal was to give leaders insight and guidance on the significant commercial and social impacts of trust within an Australian context. We also wanted to highlight what shapes trust for different industries based on their relevance to, and role in, people’s lives.
Of course, if you believed the stereotype of an easy-going, laid-back larrikin who values “mateship,” then Aussies must be some of the most trusting on the planet …
But the reality is far richer. Leveraging Forrester’s Consumer Trust Imperative Survey, 2022, we were able to dive deep into each of the seven levers and what they mean for five industry types: commonly used products, luxury goods, consumer tech, primary banks, and the government.
So what did we find?
There’s so much more to unpack from this study but only so much blog space to share it all, so we’ll leave you with this final thought: As a leader, you can (and must) take practical steps to strengthen trust. This is key for both seizing the opportunities that improved trust can create and minimizing the risks of violating that trust.
If you are a Forrester client, please schedule time with Jinan Budge, Sam Higgins, or Riccardo Pasto to learn more.
 

Stay tuned for updates from the Forrester blogs.
Stay tuned for updates from the Forrester blogs.

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