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At a time when trust issues seem greater than ever before, a new global study from Salesforce shows it’s bottom line effect for brands.
The report's highlights include:
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Consent and clarity on data usage builds trust. 92 percent of customers are more likely to trust businesses with their data when they’re given control over what’s collected about them.
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Transparency is equally as important for consumers. 91 percent of customers are more likely to trust companies with their personal information if they explain how its use will deliver a better experience. The percentage of customers who say their trust in a company makes them more likely to do the following: be loyal (95%), recommend that company (93%%) and buy more products and services (92%).
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AI is key to creating trusted relationships. 75 percent of millennials/gen zers recognize the good that can come from AI, whereas only 56% of traditionalists/baby boomers do.
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The personalization paradox is real. The majority of customers are willing to share personal information if it is used to power personalized offers and engagements. Members of younger generations are particularly comfortable with this exchange.
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Next gen consumers double down on trust. 44 percent of customers say demonstrated social responsibility strengthens their trust in a company. But millennials and gen zers put a finer point on what that actually means. Companies seeking to win the hearts and wallets of younger customers can foster their trust by demonstrating commitment to social values such as environmental protection, equal rights and philanthropy.
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September 6, 2018 at 04:18PM
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