According to the PwC 21st Annual Global Survey, reliability, congruence, consistency, and transparency are the four pillars for building trust among customers and other stakeholders. The same survey also found that 65% of CEOs are concerned about declining trust in business. If you have the same concern, here are some useful suggestions!
Stay standards compliant
Staying compliant to industry standards will not only win you certifications like ISO and others, but also help you build an image of reliability among customers. For this, you will need to lay emphasis on the standardization of processes. Remember, non-compliance could result in the loss of certification and business!
Communicate consistently and frequently
This is the information age, and both customers and employees demand to stay in the loop about developments in the company. Both within your organization and outside, you need to deliver authentic messaging about what the company or brand stands for. For this, it is important that you know what your business values are and clearly define them.
Enforce strong security policies
Obviously, there can be no trust without the assurance of safety. That is why it is important to secure your customer data from internal and external breaches. Setting up and enforcing strong password policies, multi-factor authentication, and restrictions can make sure that only the right people have access to the right data. While focusing on security, remember not to compromise on usability.
Ensure complete accountability
Set up server monitoring to capture a detailed and comprehensive view of how your resources and applications are being used, by whom, when, and for what purpose. Track admin and maintenance activity as well. It is recommended that no one enters your data host server in an unaccounted manner for better transparency.
With a strong and effective governance structure in place, you have verifiable proof at all times that your organization can be trusted with customer data. A study on the ROI of transparency has revealed that 94% of customers are likely to be loyal to a brand they have built trust towards, due to the complete transparency it offers.
Akku, the identity and access management (IAM) solution from CloudNow, facilitates all of the aforementioned steps, helping you build trust among your employees, customers and other stakeholders alike. To know more about the features and use cases of Akku, get a free demo today!