Searching for Trust in Digiland

10 Jan,2019

 

By A Correspondent

Dentsu Agency Network arm  iProspect has released its fourth annual whitepaper, 2019 Future Focus: Searching for Trust, built to help marketers navigate and master the notions of truth and authenticity in the hyper-sensitive global media landscape today. The report predicts that those businesses grounded in credibility, relevance and reliability across all their marketing channels will see trust at the very foundation for their success in the digital economy.

Here’s the Executive Summary of the Report:

The digital economy has brought new opportunity for development and innovation in every business sector. While the majority is “good innovation”, we continue to see a significant gap at a societal level, driven by a continued disparity in access to technology based on socio-economic factors. In today’s hyper-sensitive media landscape, how should brands and publishers navigate the notion of truth and authenticity? If we are to derive one truth from the digital economy it is this: trust is not an issue, it is the issue.

The fourth annual edition of iProspect’s Future Focus explores how the consumer experience and the intricacies of personalisation influence the role of convenience in commerce. Brands that are built on credibility, relevance, and reliability will see trust as the very foundation for their success in the digital economy.

 Global Marketers move Trust to the Forefront in 2019.

The 2018 iProspect Global Client Survey, comprised of interviews of more than 300 global marketers and brand leaders, including CMOs and marketers of FTSE 100 and Fortune 500 companies, found that 88% of marketers are responding to these polarised times, making trust in their brand a priority for 2019.

  • 76% say trust is important to keep consumers buying their brand
  • 47% define trust as brand loyalty and 47% define trust as consumers being ambassadors
  • 62% don’t have a proactive role in approaching online reviews, although they think reviews represent the greatest risk to consumer trust
  • 88% say trust is a priority in 2019
  • 62% say the quality of their purchase experience and after-sales service will be a priority for 2019
  • 69% think the rise of digital assistants represents an opportunity to become closer and develop stronger relationships with consumers
  • 83% don’t believe brands will dominate over convenient experiences in the future

The report also includes exclusive interviews with global leaders from businesses such as The New York Times Company, IBM, Microsoft, Hilton, The Economist, Rachel Zoe, Inc., and AccorHotels.

Feedback shows that trust is at the forefront globally with 88 per cent of marketers making trust in their brand a priority in 2019. Marketers see gaining consumer trust as vital to business growth with 76 per cent stating that trust is important to keep consumers buying their brand.  Digital will play a clear role in this with 34 per cent stating that Voice Search is their priority emerging marketing channel in 2019, and a further 60 per cent believing that the rise of AI will increase consumer trust as it allows for more relevant and personal experiences.

Said Ruth Stubbs, Global President, iProspect: “As businesses continue to transform in the digital economy, successful brands will be differentiated through their ability to establish unique relationships with their most valuable customers, ensuring time is well spent and value is equitably exchanged. As technology further blurs the line between information and value exchange, consumer trust is paramount.”

Added Rubeena Singh, CEO, iProspect India: “In our latest edition of iProspect’s Future Focus, we examine how commerce is influenced by consumer experience and the ramification of personalisation. In our view, brands that focus on credibility, relevance, and reliability will be successful in establishing trust with consumers. Trust, we believe, is the foundation for successful brands in the digital economy.”

 

 

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