B2C leaders overestimate consumer trust; underestimate value of apologizing for mistakes
New research from Deloitte Digital and Twillio reveals big gap between B2C leader and consumer perceptions of what brands need to do to secure trust and loyalty. So, while 79% of B2C business leaders think customers have somewhat or very high trust in their brands, only 52% of those consumers reported having those levels of trust. Closing that gap is key, since 68% indicated they spent more on a trusted brand than one the used but trusted less. Quality of service and fair price were ranked very high by consumers for building trust, while admitting mistakes and apologizing were viewed as key ways to build back trust after a problem or breach.