Trust as strategy
In a world tuned to the increasing volume of AI, regulation and shifting expectations, trust has become the most powerful growth lever for brands.
Consumer concern – and incomprehension
Consumers are acutely aware their data has value, and they feel uneasy when they’re left in the dark.
As Chad Wollen, co-founder and managing partner of The Privacy Experience Agency explains: “Trust saves us time, because we don’t need to verify every detail or second-guess every interaction. Instead, we can move forward knowing the other party won’t take advantage. Without trust, every relationship would grind to a halt under endless checks and due diligence.”
Consumer trust is fragile, and once it’s gone, it can never be restored to its original state.
“Trust is like a Chinese vase. Once you break it, even if you try to glue it, it still looks broken and it’s never perfect anymore.”
of consumers say transparency on data use is the #1 driver of brand trust
of consumers don’t fully understand how their data is collected or used
Opportunity for brands to lead
That gap between concern and comprehension is where brands can step up – and our research shows most marketers are starting to do just that.
Increasing consumer trust is a challenge Ajay Keerthy, head of marketing, wealth and personal banking, UK, HSBC knows only too well in his sector. He says: “With trust in brands under pressure and so much confusion about how data is used, we have to be absolutely transparent – showing clearly how customer data is used and what they gain in return. That approach is central to growth. At HSBC, our ambition is to be the most trusted bank globally, keeping customers at the heart so it is something we are very focused on.”
say consumer trust is now central to their brand strategy
have boosted consumer trust as a result of Privacy-Led Marketing
Regional spotlight: who are the trust leaders?
of senior marketing leaders in the US say they have increased consumer trust in the past 3 years
of senior marketing leaders in EMEA say they have increased consumer trust in the past 3 years
Flipping data privacy ‘hurdles’ into business advantage
“Privacy is one of those areas where the challenge itself is also the opportunity – turning a problem into a chance to build trust and long-term growth”
Trust isn’t just about what a brand says. It’s about how it shows up, especially in the first few digital moments.
Usercentrics' First Impressions Matter campaign
First impressions matter. And a transparent consent experience is seen as the key tactic to improving consumer trust. Respect users’ time and autonomy, and you’ve already begun to build the relationship.
Which Privacy-Led Marketing tactics boost consumer trust?
56% Transparent consent experiences
50% Clear messaging about data use
44% Proactive education or comms around privacy
37% Preference centres or data control tools
31% Avoidance of dark patterns
Sector spotlight: who are the top tacticians?
of senior marketing leaders in banking and finance champion transparent consent experiences
of senior marketing leaders in retail and e-commerce prioritize clear, transparent messaging
of senior marketing leaders in the education sector say proactive education & comms is key
Best practice performers
Continue reading...
Disruption
Performance
