Trust First: A Winning Strategy for Going DigitalBy Jaime Morales | Thu, 12/16/2021 - 08:59
Every company, from the smallest to the largest, from the most change-resistant to the most innovative, is resetting its digital priorities. We are facing a “no turning back” situation in the fact that users, customers, employees and partners have developed new digital habits, not only in the way they work and are productive but in the way they choose products. Simplicity, agility and mobility have never been so important.
That means going digital is key for business success. However, the digital world comes with a flood of new challenges companies must address, namely trust. Mostly every user or customer is online, using new technologies, sharing data and voicing their opinions, which could be liabilities. At the same time, as the cyberthreat volume increases, the regulations evolve to address the changes. So, as new trust priorities arise, a new landscape is emerging, and quickly, leaving many companies unprepared.
Just as you can't love someone you don't trust, customers won’t choose a brand they can’t rely on. Trust is the foundation of absolutely every relationship; and every relationship is an exchange. So, every organization should work to nurture it. But how?
In the digital world, security must be a priority. Every organization is accountable for and should take security measures. While companies are keen to create new experiences for their customers, employees and partners, generate streamlined agreement processes and drive efficiencies in the hybrid/remote workplace, they should not neglect the power of a secure ecosystem.
Successful companies build ecosystems that have security as a key pillar. That means, their products, processes and people are part of a comprehensive approach designed to maximize security. They are making sure code is secure, every server and cloud environment is secure, comprehensive monitoring is in place, vendors are trustworthy and follow the same high-standard policies, people are trained and there are awareness programs to ensure that privacy stays top of mind. No measure is too little when it comes to security.
However, this is only the beginning of the conversation. A company truly committed to safeguarding its stakeholders’ interests creates more than just a robust, secure portfolio. You should commit to comply with the norms — in your industry, in your customers' industry, in the different countries where you do business — and do it in an efficient manner. Compliance and legality also lean toward establishing a culture of transparency and trust with employees, partners and vendors.
So, legality is another key aspect of trust. The legal framework for the digital world has evolved a great deal in the last 10 years, from both a global or local perspective. Some countries have progressed more than others, but it’s a fact that every company must comply with the legal requirements of security, privacy and smart agreements to do business and ensure its customers are protected by law.
You can deploy technologies and tools to build a secure environment. You can create policies to comply with regulations in every country where you do business. This will help address most liabilities. But trust is the intangible essential. You can’t see trust, but it’s certainly more than just a feeling. It rises because your users, customers, employees and partners see for a fact your company is committed to driving a great experience based on efficiency, security and compliance.
The ultimate truth about trust is that it requires relationships. People are behind every agreement, every transaction and every ecosystem. Without trust, it’s incredibly difficult to be successful. When companies ensure every aspect of their business is secure, legal and relationships are healthy, they will start seeing their stakeholders trusting them.
Every person in your business is responsible when it comes to creating trust. Leaders should influence people on how to generate positive impacts regarding those goals. Selecting vendors and partners also should be aligned with the same values. That’s how we see that users become customers and customers say great things about your brand and technology.
Honesty. Transparency. Integrity. Happy customers. Verified vendors. All of this creates a company people trust. It’s about making promises and following through on them.