‘In God We Trust : All Others Bring Data’, a variation of the motto that appears on US currency — attributed by many to American statistician, professor, author and consultant, William Edwards Deming — that did the rounds in the second half of the 20^thcentury, has, ironically, become relevant in a totally different context in the 21^st.

It almost perfectly encapsulates the attitude customers today have towards brands – they demand that honesty and authenticity be clearly and unequivocally demonstrated.

According to a report issued by communications and PR firm Cohn & Wolfe – based on research and surveys involving more than 12,000 consumers across 14 markets rating over 1,600 brands — global media brand, Disney, is the most authentic brand in the world. Others in the top 10 include BMW, Microsoft, Amazon, Apple, Intel, Audi, Samsung, Adidas and Lego.

The report also indicated that consumer cynicism is currently high globally – and the highest in Western Europe — with 80 per cent of respondents declaring that brands are not “open and honest.”

In the 1950s, only half the then global population could read and information was zealous protected from the public eye. What’s more, existing social attitudes generally encouraged deference towards persons and entities in positions of power, including large and familiar brands that offered products and services.

Alongside the rapid technological advances and changes in social mores that have been witnessed since, the combined contribution of mass education, mass media and massive scandals has resulted in a 180 degree shift in that position with notions of deference being almost as good as dead today. A familiar brand no longer guarantees trust – in fact, big now can mean bad. For today’s customers, led by the tech-savvy, socially aware and environmentally concerned Gen Z, the most important topic is transparency, which is often of more significance than the products themselves.

An increasing number of consumers today want to know what is in their products, how the materials used were sourced, how good they are from a health perspective and whether the products are sustainable – and make their choices based on the information they are able, or unable, to obtain.

As a detailed study jointly undertaken by the Consumer Goods Forum and change agency, Futera, to investigate the cutting edge of transparency has revealed, the contemporary consumer demands transparency as a means of determining and confirming the authenticity of the brand, which, to them, consists of being genuine, original, unique, expert, visionary, passionate, and honest. Companies that fail to measure up to these criteria fail to win their trust – and, consequently, fail to win their custom.

Concern for the environment and positions on health care are expressions of the broader significance customers attach towards the values and morals espoused by the brands. There no longer exists an automatic respect for brands — and the scandals that regular rock established names across the global corporate landscape have not helped salvage reputations or improve perception. The fact that a serious trust deficit exists is no longer contested — and brands acknowledge that they can only ignore this at their own peril.

In addressing these challenges, companies have realized that merely declaring good intentions and support for noble causes is not enough. They have to be more transparent in their practices and pursuits and seen to be genuinely acting upon their pledges.

Among the earliest to understand and act upon this realization, Dove – with its ‘Dove Self-Esteem Project’ — transformed itself from a soap company to a company with a vision. By consistently aligning its marketing efforts with its mission statement, Dove was able to change how it was perceived by its customers and is seen today as a brand that authentically champions women’s empowerment and wants to change the conversation around beauty. The longevity and resources Dove has put into changing the advertising industry’s narrow view of beauty have also made Dove appear more credible with its marketing messages.

Dove not only received numerous accolades for its campaigns, but within a decade of the start of their Campaign for Real Beauty, witnessed a jump in sales from $2.5 billion to over $4 billion.

In the institutional financial services sector most major players now acknowledge that the propellant for a financial brand today is authenticity – and that with mobile, social and constantly -connected customers, there’s an immediacy to brand building today. Given the significant influence this has on a brand, firms realize that it is imperative that they are transparent — as well as upfront and honest about all that they do.

It is honesty and transparency that help create the authenticity that clients seek today – key elements that have conspicuous by their absence amidst the scandals and scams that have come to light in recent years. In today’s market, the more authenticity a firm can create, the stronger its brand will be.

Honesty, it appears, truly is the best policy.