Trust in Brands study by Adobe details the impact of trust on brand values, data, content, AI, workplace, and customer experience.
Adobe announced results from a study of more than 5,000 Asia Pacific consumers and 900 business leaders which finds a strong correlation between brand trust and consumer behaviour.
The results detailed the impact of trust on brand values, data, customer experience, content, artificial intelligence, and the workplace.
Trust and data
On the question of data, Adobe discovered that 95% or more of APAC executives believe consumers trust them to keep their data safe and use it responsibly.
One must note that the question about data and privacy reached a special high in May last year (2021). Apple had released its iOS 14.5 update and the eagerly awaited App Tracking Transparency (ATT) feature that let you, the user, decide which apps can track you and which ones can’t. Google, last year, had announced it would phase out third-party cookies
Marketers are preparing to scramble for first-party data when its usual sources go dark.
However, 85% of APAC consumers are concerned about how companies are using their data. 47% of APAC consumers are very concerned compared to 34% globally. India tops the list with 57%.
The biggest drivers of the concern are lack of transparency, control, and misuse. 82% of APAC consumers say having a choice about how companies use their data is important.
Sticking to data and safety, the report tells us only 42% of APAC executives say having strong data privacy and governance processes is a top priority for their companies. 34%say that using real-time customer data is a top priority. This is higher in India at 41%.
A noteworthy reveal is the difference of opinion between APAC executives and consumers on the value of sharing data. 76%of APAC executive leaders believe the benefits customers receive from companies collecting their data outweigh the potential risks, while only 38%of APAC consumers agree.
And if a brand uses consumer data with permission, 65% of Indian consumers are likely to stop purchasing the brand’s wares or services.
Personal customer experiences
Customer experience is crucial to a brand’s success. The report says 47% of Indian consumers feel digital experiences are important while only 19% feel the in-person experience is important. When compared to APAC, the percentages are 35% to 23% respectively.
72% of APAC consumers surveyed say their trust in brands rises if technology is used to personalise the experience and at the same time, 74% say poor personalisation damages brand trust.
The report cited examples of personalisation most likely to erode trust in brands. The India survey revealed:
1. Contacting me in a creepy way – 19%
2. Sending ads or offers that are irrelevant – 25%
3. Ignoring my preferences – 20%
4. Using the wrong name – 17%
5. Sending me information in the wrong language – 18%
86% of APAC consumers believe it’s important for brands to demonstrate empathy by showing they can see things from the consumer’s perspective, understand their frustrations and know what’s important to them.
One of the biggest challenges brands face today is making content that consumers feel is personal and trustworthy.
90% of India says personalised content delivered at the right time increases their trust in brands. The APAC average stands at 83%. However, what is interesting to note is that 85% of Indians are concerned about the trustworthiness of online content.
Technology’s aid in generating trust
72% of APAC consumers say they’re more likely to trust brands that use technology to deliver personalised experiences. 81% of consumers in India trust brands that use technology to personalise the experience when compared to other APAC jurisdictions.
This trust increases when artificial intelligence (AI) comes into the picture. 76% of consumers in India trust AI to improve their experiences a lot or by a fair amount.
Does the trust in AI match in-person customer service? 18% of APAC consumers already trust AI equally to people in their ability to deliver a good customer experience. 27% of Indians agree.
AI may be having its time under the Sun with 94% of APAC brands saying AI is making consumers' experiences better today, brands/leaders must be vigilant to ensure it is implemented ethically; 86% of Indian executives have observed AI-driven bias and 55% consumers have experienced it. The APAC average stands at 76% and 39% respectively.
Brand values and employee trust
Coming to employees, the reports say the single most important thing APAC brands can do to earn their employees’ trust is to practice what they preach. 81% of Indian employees surveyed agree.
Coming to B2B brands, 76% of the people Adobe surveyed who make purchasing decisions at work say that their B2C buying experiences are better than their B2B experiences. Only 5% say their B2B buying experiences are better than B2Cexperiences.
Also, 43% of APAC consumers said they trust governments more, compared to 17% that said the same of businesses.
74% of the Indians surveyed said they would stop purchasing from a brand if it violated their trust.
To regain trust, here is what brands must do:
Providing consumers with transparency and control over how their data is used (85% say somewhat or very important).
Keeping data safe (84%).
Treating their employees well (78%).
Providing personal experiences (77%).
Demonstrating strong social responsibility (76%).
Impact of trust on the bottom line
The report says APAC consumers will spend more with trusted brands. 48% of Indian consumers say they will spend$1000+with the most trusted brands.