Cash App x Ayzenberg: Rebuilding Brand Trust In The Age Of Skepticism
Trust has always been at the core of driving brand loyalty. Canvas8 reports that 65% of people in the UK and US agree that transparency and honesty are important factors when making decisions about a brand. Ayzenberg ’s Marketing Science team recently partnered with Cash App , a leader in the peer-to-peer money transfer space—whose core tenant is “Trust”—to understand who their social media followers actually were and which messaging enhanced trust in the brand with their users. We were motivated by published research showing that erosion of trust can be attributed to data privacy concerns, misinformation and a lack of authenticity in advertising. Our project’s goal was to understand exactly what type of social media posts would build trust with Cash App’s audiences, a challenge we met by utilizing our social-forward digital anthropology approach powered by our AI-driven Brand Soulmates Technology.
In partnership with Cash App’s Taylor Williams , Channel Marketing Lead, Ellen Tseng , Head of Social Listening and Intelligence, and Mira Mehta , Cash App Research, our Marketing Science team ran primary qualitative and quantitative research indicating that brands can build trust with their audiences by being quick and transparent in sharing important information related to security and product knowledge. This is supported by external research from Sprout Social which states that 86% of Americans believe transparency from businesses is more important than ever before. Research from Sprout Social indicates that when brands are transparent and develop a history of transparency, nearly nine in 10 people are more likely to give them a second chance after a bad experience. Furthermore, 85% of those consumers are more likely to stick with brands during a crisis. Users want to be the first to know about any potential issues or actions they can take to improve their experience with the brand—81% of people believe businesses have a responsibility to be transparent when posting on social media—higher than the standards they set for politicians, friends/family or themselves.
Results From Ayzenberg’s Cash App Audience Research
During the in-depth interviews phase conducted with 40 core Cash App social media followers, our insight into building brand trust was refined as we discovered that developing trust also requires brands to demonstrate they are listening to their users. Ideally, content should feel personalized and relevant as if it was designed with each viewer in mind. As an awarded leader in Social Intelligence, this supports my own findings and the conclusion that other leaders in the field of Social Intelligence have been arriving at for years: that brands should implement social listening to identify and act on user feedback from comments and messages beyond just direct 1:1 consumer engagement. In order to truly engage with your brand’s fandom, you need to utilize insider language that only a brand’s consumers understand as this can help build a sense of community and belonging. This was further corroborated in a study by Epsilon which found that 80% of consumers are likelier to do business with a company that offers personalized experiences. By tailoring messages to specific interests, preferences, and behaviors, brands can demonstrate that they understand and value their customers. Furthermore, McKinsey reports that personalization can reduce acquisition costs by up to 50%, increase revenues by 5-15%, and improve marketing spend efficiency by 10-30%.
Participants in both phases of primary research shared that being generous is another key way to earn trust. Brands should look for opportunities to surprise and delight users through contests, shoutouts, comment engagement and other creative means of giving back. Data from a study conducted by LoyaltyOne shows that 94% of customers who received a surprise gift or special recognition felt more positive about the company.
Additionally, our conversations with social media followers confirmed our suspicions: they are acutely aware of how their engagement benefits the brand. Therefore, it's important to show appreciation and provide value in return for their time investment.
领英推荐
Finally, our discussion with the brand’s social media followers continued to support what we already knew through the work our ION team does; brands can build credibility by partnering with reputable creators, influencers and celebrities who share overlapping values and interests with their user base. Followers are more likely to trust a brand if they see familiar and respected individuals using and recommending the product or service, but these influencers must be seen as trustworthy and relevant to the brand—not just famous names. Research supports this as influencer marketing has emerged as a key strategy for building trust and authenticity; consumers are likelier to trust recommendations from people they follow and admire. Most millennials and Gen Z social media users, as indicated in a survey from Morning Consult, said they trust influencers on social media (63% report trusting influencers, up from 51% in 2019). By collaborating with content creators who align with their values and target audience, brands can tap into the trust and credibility these influencers have built with their followers. This is also key for discoverability, as 31% of social media users prefer to find out about new products through an influencer they follow—as opposed to any other format or channel—per HubSpot Blog's 2024 Social Media Marketing Report. The numbers are particularly high among Gen Z consumers, with 43% preferring influencers as a product discovery channel.
In today's age of skepticism, building and maintaining trust is crucial for brands to foster loyalty and long-term success. Our research alongside Cash App highlights key strategies for cultivating trust that we at Ayzenberg have known to be true: transparency in communication, the benefits of personalized, community-centric content, social listening, and strategic influencer collaborations. By implementing these approaches, brands can create authentic connections with their audience, leading to increased customer retention and brand advocacy. As the digital landscape continues to evolve, companies that prioritize trust-building initiatives will be better positioned to weather crises, adapt to changing consumer expectations, and thrive in an increasingly competitive marketplace. Ultimately, investing in trust is not just good practice—it's a fundamental requirement for sustainable brand growth in the modern era.
About Ayzenberg
Ayzenberg is well-positioned to help brands navigate this new landscape of trust-building. With expertise in data-driven marketing, AI-powered personalization, and influencer partnerships through our ION team, Ayzenberg develops comprehensive, results-driven strategies that address the unique challenges and opportunities facing each brand. We use the science of psychometrics to power the most qualitatively authentic influencer connections through our cutting-edge Brand Soulmates technology and creative collaborations, enabling brands to deliver hyper-personalized experiences at scale while fostering authentic connections with their audiences.
About Cash App
Cash App is the money app. It’s the easy way to spend, send, and store money. Sending and receiving money is free and fast, and most payments can be deposited directly to an external bank account in just a few seconds. With Cash App, customers can also buy and sell Bitcoin instantly, get a paycheck deposited right to the app, create a unique $cashtag to share with anyone to get paid fast, and use the Cash App Card to spend the money everywhere Visa Debit is accepted. Download Cash App for free at cash.app/download. Cash App is a financial platform, not a bank. Banking services provided by Cash App’s external bank partner(s). Prepaid debit cards issued by Sutton Bank pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa U.S.A., Inc. All other trademarks and service marks belong to their respective owners.