SPOTLIGHT StaStatte oe of the Cf the Conneconnectted Ced Cuuststomeromer 2121 Fostering Trust in the Data-Value Exchange The challenge for companies seeking to Transparency About Customers’ Data Use Earns Their Trust differentiate with data-driven experiences isn’t that customers don’t want their information Percentage of Customers Who Say They’re More Likely to Trust Companies with applied for such purposes, but that they Their Personal Information If They Do the Following don’t trust that their data will be used for such purposes alone. Forty-eight percent of Give me control over what information is customers (including 51% of consumers) collected about me 92% believe companies do a bad job at protecting their personal information. Are transparent about how my information is used 91% Companies must develop strong privacy policies and demonstrate a commitment Show their commitment to protecting to safeguarding data to show that they my information 91% have customers’ best interests at heart. What’s more, companies earn trust by being transparent about how customer information Have a strong privacy policy 90% is used, and explaining how it provides a better experience. Ask for my explicit consent to use my information 88% But while sound policies and transparency are critical, companies earn the most trust by Vow not to share my information putting customers in the driver’s seat of data without permission 88% use. Ninety-two percent of customers are more likely to trust companies that give Explain how using my information gives me them control over what information is a better customer experience 86% collected about them. The ROI of sound data practices extends Use my information to fully personalize beyond trust. One study of retailers found, my customer experience 78% compared to competitors with flat or See appendix page 55 for consumer and business buyer segmentations. decreasing revenue, companies with at least 10% annual revenue growth are 1.6x more likely to have sound customer security practices.1 1 Salesforce and Deloitte, “Consumer Experience in the Salesforce Research Retail Renaissance,” March 2018. Salesforce Research