Too many brands are losing customer trust (and revenue) in their digital interactions. By becoming guardians of customer trust, CMOs could build more revenue—and internal trust too. It’s getting urgent.
Can I get you something from the store? The meaning of these words has radically changed. Global e-commerce revenue will soon pass the $5 trillion mark, as many as 41% of customers are shopping on their smartphones at least once a week. CMOs are now trying to seize this opportunity and build what marketers have always been dreaming of deeper, trusted customer relationships.
Customers are less sure. Only 47% of people tend to trust companies by default, a recent consumer study found. When it comes to online, the bar is even higher. Seventy-three percent of customers (63% in EMEA) aren’t sure if digital content is trustworthy, and 79% (71% EMEA) are concerned about how companies are using their data, reports Adobe in a new global consumer trust study. More advertising, may not be the answer. In the UK, for example, only 55% of people trust what they see in ads. Marketers, it seems, need to look at customer trust building in new ways.
In this report, we’ll look at how the rules of customer trust building have changed, how brands can win more customer trust, and how marketing executives can make actual trust-building happen—in the market and inside their own firms.