Trust is at the heart of the digital economy

The trust of consumers in the digital economy is a key element in their relationship with brands. An Adobe study conducted in November 2021 on the topic of customer experience had revealed how essential trust is within this relationship between brands and consumers. The American software company has therefore decided to launch a new study on this subject, which was completed at the beginning of February and will soon be made public. This study reached more than 7,000 decision-makers and consumers throughout Europe. Trust and respect at the heart of the digital economy and Adobe Summit 2022 Trust and respect for consumers is at the heart of the digital economy, and it’s one of the major themes of this Adobe Summit 2022, which will take place online, as it did last year. Disclosure: Adobe is our client. We have written this post with our usual aim of professionalism, independence and authenticity “This new study measures companies’ as well as consumers’ vision of trust in this new era of the digital economy,” explained Christophe Marée, Adobe’s marketing director, Western EMEA. I interviewed him ahead of the Adobe Summit 2022, which will take place online on 15, 16 and 17 March, of which Visionary Marketing is once again an #Adobepartner, as in 2021. The Adobe Summit 2022 will again this year be held entirely online. As in 2021, this Summit will address the amazing digital boom we’ve witnessed since the Covid crisis began. The new crisis which is unfolding now in Eastern Europe will most certainly reinforce this trend towards digitisation and the generalisation of WFH policies. Exit digital transformation, enter digital first! Digital transformation is behind us, the intensity of the digitisation of the economy has gone up a notch, “digital first” is definitely on today’s agenda. The weight of the digital economy in the US is valued by Adobe at $1 trillion. In the UK alone, the e-commerce sector is close to £ 700 bn [£ 300 bn if one excludes EDI]. Digital is now mainstream and its impact on society at large is enormous. An unparalleled digital boom We recently featured an article on this blog about digital trends 2022, on a fascinating study, which Adobe shared with us. We are all witnesses to this digital upsurge, which is very much linked to consumers’ trust in the digital economy. With thi  s study, the leading software company gave us evidence of the significance of the digital groundswell. The impact of Covid on digital acceleration is self evident Adobe subsequently launched a new study on the subject, which was completed in early February, reaching over 7,000 decision makers and consumers across Europe. Here are my   notes from an interview with Christophe Marée. Consumer trust is key to the digital economy This new study measures companies’ as well as consumers’ trust in this new era of the digital economy We are currently in the midst of a revolution in the digital economy and the pandemic has accelerated the use of digital in all areas. The final results of this study will be revealed in the coming days, but Christophe shares some qualitative elements here. A different point of view on the digital economy: Gillian Anderson, the famous actress from The X-Files, will be present at the Adobe Summit 2022 – Creative Commons photo by Wikipedia – work by Elena Ringo – https://www.elena-ringo.com, CC BY 4.0 Trust is the foundation of the digital economy Trust is not negotiable, it must be a real part of the DNA of business. It cannot be decreed or faked. It must be earned step by step through each experience offered to the consumer. Consumer confidence can be lost in the twinkling of an eye The challenge for companies and brands is to maintain this trust. What are the criteria for trust? One of the components of this trust is linked today to the responsible use of data. It is essential that brands are completely transparent in their use of data The consumer expects a brand to be transparent. He expects a brand to ask him for permission to use his data. He expects to retain control over the use of that data. For the brand, it is very important to guarantee the security of its data because this is one of the most fundamental elements of the band-consumer relationship in the digital era. Brands gain trust by delivering on promises made to their customers Throughout the relationship, a brand must deliver on promises and ensure that they are kept. If so, customers will have greater trust in that brand. Trust in the digital economy is not for B2C only, it is also an obligation for business to business This means protecting data privacy, and above all the ability of the brand to offer experiences that the end customer will appreciate throughout their journey. These experiences must be respectful, relevant and build a relationship over the long term Tips for marketers wanting to improve trust in the digital economy We are entering a new era of the economy and especially the digital economy. All aspects of our lives have been completely changed and have gone digital. So has the economy. The digital economy is expected to reach $1 trillion in the US alone. It’s booming today. Marketers must be obsessed with the finding of new ways of successfully personalising customer experiences. This personalisation must be infinite, we must reach a new stage in personalisation It is important to ensure that the data is used to the best advantage of consumers, but above all to have the ability to offer personalised experiences throughout the customer journey. This is in no way sufficient though, one must indeed ensure that the entire customer journey is as personalised as possible. Adobe Submit 2022, 15-16 and 17 March 2022 The Adobe Summit will take place online from 15 to 17 March 2022 https://visionarymarketing.com/wp-content/uploads/2022/03/1215689-adobe-ec-summitassets-countdown-1week-v01.mp4 During these 3 days, we will be spoiled with many testimonies from companies detailing their business cases and their way of implementing customer personalisation. Technology becomes essential to gain customer trust “The Summit is a great opportunity to discover new trends and topics,” says Christophe. This year, priority will be given to testimonies from companies from different backgrounds The CEO of Nike, the CMO of Prada, the CEO of the American Red Cross, the Director of Transformation of Real Madrid, the CMO of BMW will be present… Other witnesses will also come and talk about the growing impact of digital technology on their daily work, personal and professional lives . Ryan Reynolds, actor, producer and screenwriter, will come and explain how digital has radically changed his life A special session will take place on 16 March in the afternoon, with Adobe’s Sneak Peeks in which forthcoming Adobe innovations are premiered by employees and researchers. See you on the Internet on March 15, 16 and 17 (the 17th being for Asia-Pacific) with Adobe for the Adobe Submit 2022. The post Trust is at the heart of the digital economy appeared first on Marketing and Innovation.