Customer Experience and Trust
By Naresh Persaud-Oracle on Oct 09, 2013
Every business is looking to take advantage of the new digital experience to connect with customers. This has become the new strategic imperative of companies all around the world. A recent article in the Sloan Management Review provides some insight into the barriers organizations are facing as they embrace the digital transformation.
For many customers, trust is an important barrier to engaging. Ease of use without security and trust is not enough to get customers to participate. For a more detailed analysis or bedtime reading on how the trust deficit reduces business activity, this Wall Street Journal Article on "How the trust deficit is hurting our economy" provides some good evidence. The net is that our level of economic activity is directly related to our level of trust in the institutions we do business with from banks to retail stores online.
For many organizations, security and trust are the major barriers to enabling customer participation in the digital revolution. The video below was recently created by the customer experience campaign to highlight how experience is critical to customer loyalty.