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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.

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New Federal Trade Commission report looks at what top US Internet providers know about us – far more than we think!

October 26, 2021
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Businesses get 10 min. to gain online trust, Onfido/Okta study finds

October 26, 2021

Onfido/Okta’s survey of 5,000 EU, UK, US Internet users reveals now as many as nine in ten consumers (France and UK) feel comfortable accessing services online since the pandemic and they expect onboarding to take no more than ten minutes. ID documents and biometrics are preferred for login, and 69% to 80% across multiple industries would rather use digital than ever visit a branch.

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CIAM Vendor Ping Identity Bought for $2.8 Billion by Private Investors

August 5, 2022

CIAM (Customer Identity and Access Management) was once largely about managing employee access to company systems, but it’s increasingly applied to consumer log-ins and identities as well.  This creates an overlap with the identity management systems more traditionally used for customer data.  The expanded market helps to explain why private investor Thoma Bravo just paid $2.8 billion for CIAM vendor Ping Identity, a 60% premium of its most recent stock price and just under 10x revenue.

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