123 eGuides

1 Minute Advice: Low Confidence in Big Business

Results of a survey by Gallup, as reported by Marketing Charts, indicates that U.S. consumers have had low confidence in big business for the last four years. In 2024, only 27 percent of American consumers said they had "a great deal" or "quite a lot" of confidence in banks. That was only one percentage point higher than in 2023 (26 percent). That percentage was the same for technology companies -- 27 percent in 2024 vs. 26 percent in 2023. Big business in general was even worse, scoring 16 percent in 2024 vs. 14 percent in 2023. In contrast. American consumers said they had much more confidence in small business -- 68 percent in 2024 vs. 65 percent in 2023. The most recent data was based on a June 2024 survey of U.S. adults (18+).

This post is brought to you by 123 eGuides, publisher of authoritative, affordable guides to help small businesses get the most from your marketing. Now available: The updated, revised Third Edition of the popular eGuide, Branding 123, that details a 3-part system for how small marketers can build a breakthrough brand. Included in the Third Edition are profiles of 5 small brands that grew up using techniques similar to those outlined in Branding 123. Read more about this eGuide here.

1 Minute Advice: Key Brand Purchase Criteria

The three most highly ranked criteria U.S. consumers use in considering a brand purchase are (1) "it offers the best quality" (2) "it's a good value for the money" and (3) "I trust it." Consumers ranked each of these virtually the same in importance, suggesting that brand trust is a critical factor. This is according to a report from leading marketing firm Edelman, as reported in Marketing Charts. A 2023 Edelman report indicated that 88 percent of adult consumers globally say trust is a key consideration when they purchase a brand.

This post is brought to you by 123 eGuides, publisher of authoritative, affordable guides to help small businesses get the most from your marketing. Now available: The updated, revised Third Edition of the popular eGuide, Branding 123, that details a 3-part system for how small marketers can build a breakthrough brand. Included in the Third Edition are profiles of 5 small brands that grew up using techniques similar to those outlined in Branding 123. Read more about this eGuide here.