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Building Digital Trust – A Strategic Imperative For All Organisations

Steven Cockcroft

Updated: Jan 10

Digital business refers to a company or organisation (private sector or public) that leverages digital technologies and platforms to conduct its operations, deliver products or services, and interact with customers/consumers.


In a digital business, technology plays a central role in various aspects of service design and delivery, such as marketing, sales, customer/consumer support, and internal processes.


Digital businesses often rely on digital channels, such as websites, mobile apps, social media, online marketplaces and digital payment mechanisms to reach and engage with their target audience.


Trusted digital companies and organisations, on the other hand, go beyond simply being a digital business.


"Digital trust is individuals’ expectation that digital technologies and services – and the organizations providing them – will protect all stakeholders’ interests and uphold societal expectations and values." - World Economic Forum


Digital trust emphasises building confidence, trust and credibility with its customers/consumers and stakeholders in the digital realm. In an ever increasingly complex digital world, trust is a critical factor in the success of any business, and in the digital age, it becomes even more important due to the inherent risks associated with online transactions, data privacy, cybersecurity and the ethical use of new and emerging technologies.


A trusted digital business takes proactive measures to build and maintain trust with its customers/consumers.


This includes implementing effective governance, risk management, security measures to protect customer data, transparency surrounding data collection and usage practices, addressing customer/consumer concerns surrounding privacy, providing secure payment options, offering reliable customer support, organisational resilience and adhering to industry standards to assist with the meeting of compliance requirements in law, regulations and contracts along with, of course, strategic ambition and objectives for growth.


In summary, while a digital business focuses on leveraging digital technologies for its operations, a trusted digital business places an additional emphasis on building and maintaining confidence, trust and credibility in the digital realm.


Benefits for Private Sector organisations


✅ Enhanced Customer Relationships

Building digital trust fosters stronger relationships with customers. When customers trust a company's digital practices, they are more likely to engage, make purchases, and become loyal advocates for the brand.


✅ Increased Customer Confidence

Digital trust instils confidence in customers that their personal information and data will be protected. This confidence encourages customers to share their data, leading to more personalised experiences and improved customer insights.


✅ Competitive Advantage

Companies that prioritise digital trust gain a competitive edge. Trustworthy businesses differentiate themselves from competitors by demonstrating a commitment to effective governance, risk and compliance, data security, privacy, and ethical practices. This can attract customers who prioritise trust when choosing products or services.


✅ Business Growth

Building digital trust can contribute to business growth. Trusted companies are more likely to experience revenue and profit growth rates higher than competitors. Trust also facilitates customer acquisition and retention, leading to increased market share.


✅ Resilience to Disruptions

Trusted digital businesses are better equipped to handle industry-wide disruptions. By focusing on trust-building goals, such as faster recovery from disruptions, these businesses can develop a competitive advantage and maintain customer loyalty even during challenging times.


✅ Positive Brand Reputation

Digital trust contributes to a positive brand reputation. Trustworthy companies are seen as reliable, responsible, and ethical, which can attract customers, partners, and investors. A strong brand reputation can lead to long-term success and sustainability.


Logo of The Digital Trust Academy with a shield and circuit design in black and yellow. Text is black and yellow on a white background.

Benefits for Public Sector organisations


✅ Effective Implementation of Policies 

Trust is essential for the successful implementation and execution of government policies. When citizens trust public services, they are more likely to cooperate and engage with government initiatives. Trust acts as a foundation for a working contract between citizens and the government, enabling the government to carry out its policies effectively.


✅ Citizen Engagement and Participation

Trust in public sector digital services encourages citizen engagement and participation. When citizens trust that their data is secure and their privacy is protected, they are more likely to actively use and interact with digital services. This engagement leads to better-informed citizens who can actively contribute to decision-making processes.


✅ Data Democratisation and Empowerment

Trust is crucial for data democratisation and citizen empowerment. When citizens trust the government with their data, they are more willing to share it, enabling governments to utilise data effectively for policy-making and service delivery. Trust also involves putting citizens in control of their data and ensuring the safety of data systems.


✅ Improved Service Delivery

Trust in public sector digital services leads to improved service delivery. When citizens trust that their needs will be met by digital services, they are more likely to use them and benefit from the convenience and efficiency they offer. Trust also fosters collaboration and cooperation between different public sector organisations, leading to more effective service delivery.


✅ Social and Economic Progress

Trust in public institutions and digital services is integral to social and economic progress. It allows people to cooperate, express solidarity, and engage in economic activities with confidence. Trust in public institutions improves compliance with regulations, laws, tax collections, and respect for human rights, which are essential for economic stability and societal growth.


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To learn more, join us on our 2-day instructor led Digital Trust Professional® (DTP®) Foundation Certificate course.


Badge with orange border reads "Digital Trust Professional, DTP® Foundation," featuring the Digital Trust Collective logo.


Further Reading

World Economic Forum, "Earning Digital Trust"; https://initiatives.weforum.org/digital-trust/about

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