Building Digital Trust in ecommerce is essential for retailers. It’s no secret how consumer trust directly affects corporate success and that when trust is lost, there are financial consequences. Our latest Retail Trust Index revealed that 70% of UK consumers find cookies and online tracking intrusive. And 50% are already changing their online shopping habits to protect their privacy.
Deloitte Digital’s research shows that the most trustworthy companies are more than 2.5 times more likely to be high-performing revenue organisations, even outperforming their peers by up to 400% in total market value.
But how can companies understand and enhance trust to drive growth?
Or better yet, how can brands measure their trust score?
Trust is the promise of a meaningful, mutually beneficial relationship between an organisation and its stakeholders. It’s built when an organisation delivers the promises you make to customers. A high brand trust score is not only positive for revenue growth, but it also does wonders for client relationships.
Deloitte Digital created a customer survey to measure the ‘HX (Human Experience) Trust ID’ identifying the 4 key factors of online trust:
- Humanity and transparency, which communicate intent
- Capability and reliability, which together demonstrate competence
This is a new opportunity for retailers of all sizes to predict, measure, and increase customer trust by correlating trust scores with specific behaviours from a small crowd sample. This reduces the need for repeated large-scale surveys that eat into budgets. Instead, privacy-friendly results are anonymised and allow retailers to score even higher on the trust index.
Want to learn more about your brand’s digital trust score and how to improve it?