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100 Best Global Brands September 17, 2009, 5:00PM EST

The Great Trust Offensive

Companies as diverse as McDonald's, Ford, and American Express are revamping their marketing to win back that most valuable of corporate assets

By David Kiley and Burt Helm

"The spark began where it always begins, at a restaurant downtown, in a shop on Main Street," intones a narrator as the camera lingers in a restaurant, bakery, and bike factory. "Entrepreneurs like these are the most powerful force in the economy. As we look to the future, they'll be there ahead of us." The music swells, and the narrator concludes: "While we're sure we don't know all the answers, we do know one thing for certain. We want to help."

The commercial, which began airing across the U.S. this summer, was developed by Ogilvy & Mather for American Express (AXP). Its mission: to cast AmEx not as a financial titan but as a humble service provider assisting mom and pops—establishments consumers typically like to support. AmEx, its gold-plated reputation tarnished by subprime bets, wants to regain the trust of its customers.

In the world of branding, trust is the most perishable of assets. Polling in recent months shows that increasing numbers of consumers distrust not just the obvious suspects—the banks—but business as a whole. In a phone survey conducted from May 26 to July 3 by public relations firm Edelman, only 44% of Americans said they trusted business, down from 58% in the fall of 2007. The shift in sentiment is forcing companies from Ford Motor (F) to AmEx to tweak marketing and focus on rebuilding credibility. "Trust is what drives profit margin and share price," says Larry Light, CEO of the Stamford (Conn.) brand consultancy Arcature and a veteran of McDonald's (MCD) and ad agencies BBDO Worldwide and Bates Worldwide. "It is what consumers are looking for and what they share with one another."

Not long ago, trust and reputation were the domain of the PR department. Marketing executives, by contrast, pushed products and brands using the classic Procter & Gamble (PG) two-step: spending huge sums to maintain "share of voice"—marketing speak for outspending rivals to drive brand awareness—and endlessly reminding consumers of the "unique selling proposition" (Tide won't fade colors).

A NEW DAY

That approach doesn't work so well now—and not just because recession, job insecurity, and hammered home values have made consumers disinclined to part with their coin. The days of consumers passively absorbing a TV commercial—or, for that matter, a banner ad—are over. People research purchases as never before, and they read peers' opinions about brands and products. Meanwhile, the Web and smartphone have given companies a cheap way to reach consumers and adjust their message on the fly. That, says Light, is why "share of voice and unique selling propositions are easily copied by competitors."

Even before the economic meltdown, companies with trust issues began realizing they couldn't keep talking past the problem with slick television commercials. One of those companies was McDonald's, long vilified for serving unhealthy food. Global Chief Marketing Officer Mary Dillon says McDonald's made a tactical decision to enter the conversation. "Trust and transparency [are] more important to us than ever," she says.

After years of fending off—or ignoring—critics, McDonald's has begun working with them. Following pressure from the People for the Ethical Treatment of Animals, McDonald's used its influence to force egg suppliers to raise the living standards of hens and cease debeaking them. PETA has publicly lauded the company for its efforts. The company declined to fight New York City's law forcing restaurants to post calorie counts on menus and says it supports making the rule national. Of course, McDonald's hasn't completely won over its critics. It is currently at an impasse with PETA, which wants U.S.

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