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Winning trust: The crucial balance between technology and human emotion

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SurveyMonkey CEO Zander Lurie's Web Summit 2018 keynote presentation.

Right now, we are at a fascinating crossroads. There’s great technology at companies’ fingertips to market/sell/listen to their customers better, and at the same time entire industries like tech may be facing a trust crisis with lots of vocal customers expressing their negative opinions via multiple platforms that were made available to them. SurveyMonkey’s research shows that most customers stop doing business with a brand following a bad personal experience. Our surveys also show that 63 percent of consumers think marketers are selling them things they don’t need, and new platforms meant to connect, sometimes backfire (say, customers we’ve surveyed about social media and AI say they are creeped out by many of the new AI and social advertising technologies).

So, how did some of the major companies end up among the least-trusted while other brands are perceived as most caring by their customers? In the world where winning customer loyalty and trust is harder than ever, how can companies/brands find a delicate balance between technology and human emotion? Zander Lurie reveals SurveyMonkey’s new survey of over 3,000 consumers in the U.S., U.K, and Canada, as well as shares other SurveyMonkey data to show what it takes to earn—and keep—trust, and take your prospects, customers, and team, from happy to happier.

Learn more: https://www.surveymonkey.com/

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Winning trust: The crucial balance between technology and human emotion

  1. 1. Winning trust The crucial balance between technology and human emotion @zlurie
  2. 2. 2 of consumers trust the new brand they are purchasing from for the first time at least a little* 89% It’s always been about trust
  3. 3. 3 2nd PURCHASE 1st PURCHASE 9% 67% There is a huge lift in trust between the 1st and 2nd purchase CONSUMERS WITH HIGH TRUST FOR THE BRAND
  4. 4. 4 Companies that listen build trust and grow quickly
  5. 5. 5 Companies that listen build trust and grow quickly
  6. 6. 6 Companies that listen build trust and grow quickly
  7. 7. 60% Most people believe marketing is selling what they don’t want or need
  8. 8. 8 Technology opens up new marketing opportunities But very often backfires
  9. 9. 9 91% of consumers notice ads “follow” them across social platforms FEEL WATCHED FEEL CREEPED OUT FEEL DISGUSTED 52% 36% 17% RESPONSE TO TARGETED SOCIAL ADS
  10. 10. 10 CREEPYCOOL Consumer verdict on AI voice assistants 56% 43%
  11. 11. 11 Businesses can scale faster than ever And fail faster than ever
  12. 12. 12 Entire industries are facing a trust crisis
  13. 13. 13 0% APPLE -6% GOOGLE -35% U.S. GOV’T -43% NEWS SITES YOU USE 58% YOUR BANK Who do you trust to keep your personal information safe? NET Trust – Don’t Trust
  14. 14. 14 SECURITY BREACHPOOR PRODUCT EXPERIENCE/ CUSTOMER SERVICE LEADERSHIP SCANDALOFFENSIVE AD What makes customers lose trust in your brand? 3,000+ consumers surveyed in USA, U.K. and Canada
  15. 15. 15 What would make you lose trust in a brand? 30% 44% 37% 71% 75% LEADERSHIP SCANDAL OFFENSIVE AD SECURITY BREACH POOR CUSTOMER SERVICE POOR PRODUCT EXPERIENCE
  16. 16. 16 POOR PRODUCT EXPERIENCE 71% 73% 81% CANADA USA UK 70% 65% 78% POOR CUSTOMER SERVICE 35% 30% 46% 28% 26% 36% 40% 44% 49% OFFENSIVE ADS LEADERSHIP SCANDAL SECURITY BREACH What would make you lose trust in a brand?
  17. 17. 17 CANADA USA UK LACK OF DIVERSITY IN ADVERTISING MILLENNIALS 18-34 AGE 35+ 15% 19% 10% 7% 9% 21% What would make you lose trust in a brand?
  18. 18. 18 82% trust your customers more than you Most trust a critical mass of 4-star reviews more than a few 5-star reviews
  19. 19. 19 For big purchases over a half of consumers prefer to do their own research
  20. 20. 20 Only 10% of consumers would consider buying financial services or medical care from a new brand. More would buy low-stake items. *SurveyMonkey Global Consumer Trust Study, October 2018
  21. 21. 21 Top Fortune 500 companies that care most about customers 1 2 3 4 5
  22. 22. 22 Top-rated customer service responds and solves problems quickly
  23. 23. 23 Brands that deliver on their promise
  24. 24. 24 Treat customer relationships like your personal relationships 1
  25. 25. 25 75% of consumers expect a response within hours or days on social media 2 Listen (at scale) with tech, but respond (fast) with humans.
  26. 26. 26 UK USA CANADA 26% 17% 16% 3 Be present online No website = no trust CONSUMERS THAT DON’T TRUST BRANDS WITHOUT A WEBSITE “AT ALL”
  27. 27. 27 People who had a negative experience may never purchase again, but most want a refund first 5% NEVER AGAIN 49% REFUND FIRST 4 If something went wrong, make it right
  28. 28. 28 5 Trust big insights Not just big data
  29. 29. 29 #PowerTheCurious Zander Lurie @zlurie

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