{"id":2477,"date":"2018-10-12T11:00:06","date_gmt":"2018-10-12T11:00:06","guid":{"rendered":"https:\/\/devbloglavaprotocols.nityo.in\/how-to-gain-consumer-trust-in-todays-world\/"},"modified":"2018-10-12T11:00:06","modified_gmt":"2018-10-12T11:00:06","slug":"how-to-gain-consumer-trust-in-todays-world","status":"publish","type":"post","link":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/how-to-gain-consumer-trust-in-todays-world\/","title":{"rendered":"How To Gain Consumer Trust in Today\u2019s World"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div><p><em><strong>By Simon Mulcahy, Chief Innovation Officer, Salesforce<\/strong><\/em><\/p>\n<p><!--more--><\/p>\n<p>Throughout history, cultures and social revolutions have been influenced by new \u201ctechnologies.\u201d<\/p>\n<ul>\n<li>In the 16th and 17th century Britain, coffee houses were banned by royal decree due to the social implications of consuming a substance outside of the home.<\/li>\n<li>At the start of the 20th century, Henry Ford revolutionised car production.<\/li>\n<li>Nowadays, we live in a world of digital and social media where a brand is no longer defined by its products and proclamations but more so by the sum of their customers\u2019 conversations about it. In many ways, this means that trust gets driven more by a brand\u2019s community than by the brand itself.<\/li>\n<\/ul>\n<p><b>Trust is the number one issue plaguing businesses today and a hot-button topic in social, political, and economic circles.<\/b><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignleft\" src=\"https:\/\/4843500.fs1.hubspotusercontent-na1.net\/hubfs\/4843500\/Imported_Blog_Media\/navigating_trust_4IR.png\" width=\"250\" height=\"334\" data-recalc-dims=\"1\"><\/p>\n<p>In fact, 95% of customers say they\u2019re loyal to companies they trust even though 54% don\u2019t believe companies have their best interests in mind, according to the <em><a href=\"https:\/\/www.salesforce.com\/form\/pdf\/state-of-the-connected-customer-2nd-edition\/?d=7010M000000uQVWQA2\">State of the Connected Customer<\/a>\u00a0<\/em>report by Salesforce.<\/p>\n<p>We have great privilege \u2014 and great responsibility \u2014 to live in a time when technology is rapidly changing the world. Now, it\u2019s time for massive change to happen around the subject of trust.<\/p>\n<p>I recently sat down with\u00a0<a href=\"https:\/\/twitter.com\/nickdavis97?lang=en\">Nicholas Davis<\/a>, Head of Society and Innovation at the\u00a0World Economic Forum,\u00a0to discuss the\u00a0<a href=\"https:\/\/lavaprotocols.com\/2018\/05\/07\/how-the-fourth-industrial-revolution-is-reinventing-the-future-of-jobs\/\" target=\"_blank\" rel=\"noopener\">Fourth Industrial Revolution<\/a> (4IR)\u00a0\u2014 the fourth major industrial era characterised by the fusion of digital, physical, and biological technologies \u2014 and its implications on customer trust.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>The State of Trust<\/strong><\/h2>\n<p>We don\u2019t just choose our favourite products, we now become loyal to entire brands. Consumers have the tools to amplify their opinions via social media and review sites, which can oftentimes be seen as creating a huge risk for brands. At any given time, an unhappy customer can tarnish a brand with their feedback.<\/p>\n<p>\u201cAt the same time we\u2019re giving away <a href=\"https:\/\/lavaprotocols.com\/2015\/03\/13\/big-data-and-web-intelligence-analytics\/\" target=\"_blank\" rel=\"noopener\">data<\/a> through <a href=\"https:\/\/lavaprotocols.com\/2018\/06\/05\/mobile-data-101-challenges-and-best-practices\/\" target=\"_blank\" rel=\"noopener\">mobile devices<\/a>, we\u2019re also demanding that someone \u2014the government or companies \u2014 do something about it because we know the benefits and yet have trust issues in what is happening behind the scenes,\u201d says Davis.<\/p>\n<p>Is it possible to spearhead a positive consumer trust revolution for your brand? It may be as easy as starting the conversation.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>4 Ways Brands Can Bridge the Trust Gap<\/strong><\/h2>\n<h3>1. Tell consumers exactly how you use their data and for what purpose.<\/h3>\n<p>Consumers are willing to share their data in exchange for more personalised experiences \u2014 as long as they understand how and why. It\u2019s important to be upfront with customers on an annual or more frequent basis: \u201cHere\u2019s the data we have about you. In exchange for sharing it, here\u2019s how we\u2019re using it to improve your experiences, send you more relevant promotions, and lower your costs.\u201d<\/p>\n<p>\u00a0<\/p>\n<h3>2. Use CEO influence to gain consumer trust for your brand.<\/h3>\n<p>While consumer trust is lacking in some industries, Edelman reports that 40% of people do trust CEOs (which is much higher than you might expect). CEOs have a unique opportunity \u2014 and a position of power \u2014 to influence customers to trust more in the brands they regularly interact with.<\/p>\n<p>Not only can CEOs be more present in brand communications to help build this level of trust, but they can also lead discussions around trust and help influence policy to advance the \u201cpositive trust revolution.\u201d<\/p>\n<p>\u00a0<\/p>\n<h3>3. Avoid \u201cquick fixes\u201d by listening.<\/h3>\n<p>It\u2019s tempting to just place a bandage over the trust issues plaguing businesses by hiring a chief trust officer or investing in an ad campaign that essentially says your business is being proactive around trust.<\/p>\n<p>A better way for brands to do this is by building a network of industry and community members to bring multiple perspectives to the broader discussion.<\/p>\n<p>Talk to unions. Bring in the NGO community. Doing so will help you see consumers less as a series of transactions and more like partners in building trust.<\/p>\n<p>\u201cBeyond talking, another vital way we build trust is by<a href=\"https:\/\/lavaprotocols.com\/2018\/09\/25\/continuous-feedback\/\" target=\"_blank\" rel=\"noopener\"> listening<\/a>,\u201d says David Schmaier, CEO of\u00a0<a href=\"https:\/\/vlocity.com\/\">Vlocity<\/a>, a cloud app adoption company that helps extend the power of Salesforce.<\/p>\n<p>\u201cListening, as we all know, is a basic element of conversing, yet fewer and fewer companies seem to be listening to what customers have to say about their needs and expectations.\u201d<\/p>\n<p>\u00a0<\/p>\n<h3>4. Put values and ethics at the heart of your business model.<\/h3>\n<p>Truly exercising your company values means more than just posting your company\u2019s core beliefs to your website. It means orienting your entire business around a particular goal or ethos. The ride-sharing industry is one that\u2019s gone from risk and skepticism to being socially-accepted in just the last decade.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Turning the Crisis into Opportunity<\/strong><\/h2>\n<p>This trust gap that we\u2019re experiencing now is actually a huge opportunity for brands. With emerging technologies like artificial intelligence (AI) still in their infancy, business leaders have the power to influence policy around how they develop, invest in, and deploy more personalised and intelligent tech. More than anything else, they must think about how innovation can create trusted relationships that advance their brand\u2019s mission.<\/p>\n<p>\u201cWith ubiquitous connectivity for the lucky four billion people who are connected around the world, we have a different set of challenges. We have the challenges to democracy, to community, and to identity. And so, we need new ways of continuing to fight the trust battle,\u201d says Davis.<\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.salesforce.com\/blog\/2018\/09\/navigating_trust_fourth_industrial_revolution.html\" target=\"_blank\" rel=\"noopener\">Article<\/a> first appeared on the Salesforce blog.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">Lava is an <\/span><\/i><a href=\"https:\/\/lavaprotocols.com\/crm\/\"><i><span style=\"font-weight: 400;\">authorised Salesforce Partner <\/span><\/i><\/a><i><span style=\"font-weight: 400;\">in Malaysia and has more than a decade of experience in cloud solutions which includes marketing automation, CRM implementation, change management, and consultation. We pride ourselves in not just being a CRM partner but in also understanding the needs of our customers and taking their business to the next level.<\/span><\/i><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nowadays, we live in a world of digital and social media where a brand is no longer defined by its products and proclamations but more so by the sum of their customers&#8217; conversations about it. In many ways, this means that trust gets driven more by a brand\u2019s community than by the brand itself.<\/p>\n","protected":false},"author":1,"featured_media":2478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[18,129],"class_list":["post-2477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-blog","tag-brand-communications"],"jetpack_featured_media_url":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-content\/uploads\/2024\/10\/35-scaled.jpg","_links":{"self":[{"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/posts\/2477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/comments?post=2477"}],"version-history":[{"count":0,"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/posts\/2477\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/media\/2478"}],"wp:attachment":[{"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/media?parent=2477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/categories?post=2477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lavaprotocols.com\/the-cloud-blog\/wp-json\/wp\/v2\/tags?post=2477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}