Page 67 - Cyber Defense eMagazine September 2022

How Can Businesses Build Customer Confidence In A

Digital Economy?

The importance of developing business-customer relationships with digital trust.

By Peter Boyle, Chief Technical Officer, Burning Tree.

Online shopping is becoming the norm within the retail market. Whilst this presents many opportunities
for businesses to expand and thrive, it also means that organisations must focus on a new aspect of
customer relations: building digital trust.

The pandemic dramatically accelerated the UK’s proportion of online retail sales, which reached a record
high of 35.2% in January 2021. And that was only the beginning; lockdowns were a catalyst, but
digitisation is not slowing down in the post-pandemic world. Consequently, many companies continue to
evolve the online shopping experience for customers.

The decline of in-person shopping means that online user experiences influence consumers’ buying
decisions more than ever. Most people are aware of the growing threat of scams and cyber attacks. As
a result, establishing digital trust helps users decide which companies will keep their personal information
safe.

‘Digital trust’ describes the confidence online users have in the ability of processes, people and
technology to create secure digital transactions, dividing the dependable services from the corrupt ones.

So, gaining the trust of digital customers is non-negotiable in the modern world. But how can businesses
develop digital trust — and what will happen if they do not?

Cyber Defense eMagazine – September 2022 Edition 67
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