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How the Tech Industry Can Begin Building Digital trust
And This is How YOU Can Take Advantage
The world is smarter in this age. We have devices that speak to each other and get tasks done. In order to get services more attuned to our preferences, our personal data are collected. Thus, we get notifications that help us and more things can be done better. However, how are we sure that the private data we submit are carefully kept? This is where digital trust comes in.
According to Tony Raval, the CEO and Co-founder of IDMERIT, in an article on building digital trust on forbes.com, digital trust is “about developing digital experiences that exceed consumer expectations, deliver reliable services, use data responsibly to create customized and valued user experiences and protect consumers’ right to privacy.”
A 2019 report by Edelman shows that more than 60% of the people surveyed believe tech companies have too much power and value profit more than consumer security. This notion is problematic for tech companies, especially since over 25 billion devices are expected to be connected to the internet by 2021. This notion has raised a lot of concerns as data security issues are becoming rampart even with trusted big tech companies.
It is important to state that digital trust is an opportunity for any company. Many businesses, both startups and established, are looking at ways of changing the narrative with their companies from distrust to trustworthiness. However, this is not easy as there are many competitors in the marketplace who are looking at offering much more value for less.
People don’t want complicated systems. Just like a bulb switch, you want to turn in on and see light come on in the bulb; you don’t want to go through the complicated process of joining wires and fixing connection points. This is the most basic way of building digital trust. You have to ensure that your digital product clearly shows how it benefits their lives positively and gives predictable and efficient results.
Put premium on customers’ privacy
Your customers value their privacy; value it too. It is understandable that personal data is needed to make some personalized preferences; however, if the customer doesn’t give consent or acknowledgement, it is better not to go ahead with it. You need to take caution — especially considering regulations such as the General Data Protection Regulation and California Consumer Privacy Act of 2018 — and get your user’s consent before making changes to your product using their data.
You need to let your customers know that their data will only be put to use to make the product more enjoyable for them. Let them know what they are buying and how it works. Also let them know that data privacy is a core principle on which your company does business and wouldn’t divulge their data for whatever reason in line with the laws and regulations.
Digital trust brings more customers as they would have more confidence in using your products, knowing well enough that their data is protected.