Saturday, January 14, 2017
Use of Market Research - Reader's Digest Trusted Brand Survey
 
The use of market research is a valuable tool to engage advertisers and is a good way to help magazine brands stay relevant and top of mind with them.

Reader’s Digest conducts an annual Trusted Brand™ survey in which Canadians are asked in an open-ended question to identify the brands they trust the most. In this study, Canadians voted for brands across 30 product categories from consumer packaged goods, to financial institutions and Canadian retailers. It has been estimated that 49% of Canadians agree that they buy items solely based on price, more than half do not, which leaves other influences, like trust, to drive their purchase decisions. Trust influences how Canadians spend and invest their money.

This is an independent opinion poll commissioned by Reader’s Digest, Ipsos Canada conducted an online survey of 4,009 Canadians to identify brands they trust from Sept 9-16, 2016. Respondents were asked for their most trusted brand within each category, in an open-ended question format. Results were weighted to census data to be representative of the population. Using a credibility interval, the overall results are considered accurate to within +/-1.8 percentage points, 19 times out of 20, of what the results would be had the entire population of adults been polled.

Survey Findings

Overwhelmingly, 93% of Canadians say they tend to buy products or services from companies they trust more. In fact, 81% of Canadians disclosed they would be willing to pay a little more money to support a product or service from a company they trust. Trust also influences investment decisions, given that 91% of Canadians reported they are more likely to invest their money in trusted companies. “Companies compete for share of wallet; and to influence purchase decisions, companies need to present consumers with a point of difference—trust is that difference,” said Karin Rossi, Publisher, Reader’s Digest Brands-Canada.  

Findings from the study indicate that 86% of Canadian consumers pay more attention to trusted companies. Furthermore, 77% say they are more likely to remember advertisements from companies they trust. Six in 10 Canadians (63%) say they trust third-party recognition of products and services such as awards and seals of excellence—up 4% from 2016. “Companies have the responsibility of earning and nurturing consumers’ trust in their products and services. The Trusted Brand™ award program celebrates the 2017 winners, and is also a means for companies to effectively communicate Canadian consumers’ confidence in their brands throughout the year,” said Rossi.

Here are the 30 Reader’s Digest 2017 Trusted Brand™ Winners, including  GOLD WINNERS, who have been voted as a most Trusted Brand™ for five or more consecutive years.

 

 

  

- Industry Guest Blogger
About Me
Industry Guest Blogger
 
This guest blog is for an exchange of stories from members of the publishing industry be it a magazine, newsapaper or digital only publisher to help foster change and innovation in the digital age. These stories will inspire the industry with ideas to help the industry prosper and keep it relevant with readers and advertisers. If you will like to contribute your story contact Martin Seto 416-907-6562 or masthead@reflexmediasales.com.
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