With the acceleration of analytics and technologies, these insights create renewed urgency for every company to transform and emerge stronger with engaging, personalised digital experiences delivered in real-time. This is particularly apparent in small and medium enterprises (SMEs), where the shift towards adopting new digital tools and technologies has allowed businesses to better understand consumer needs and address any concerns that they have to build up trust for the brand.
The digital economy has accelerated every brand globally, and customer expectations have never been higher. As in-person experiences remain meaningful to a brand-customer relationship, digital experiences are becoming more critical to building brand trust. But success depends on the ability of companies to deliver a trusted experience that feels personal and is responsible in approach.
Our latest Asia Pacific Digital Trust research indicates that over half of consumers would walk away from a brand forever if their trust had been broken. Also, 85% would not do business with a company if they had concerns about data security. Conversely, if trust is earned, customers will reward a brand with their wallets – nearly 54% of consumers are willing to spend between US$250 and US$500 more per year.
