This article is part of a Spotlight series on technology, tracking and trust in Australia. Read more
Australians are losing trust at a rapid rate. But at a time when research shows us that government, business, media, and NGOs are all considered to be untrustworthy, brands have an opportunity to reverse the trend. Only by stepping up and demonstrating leadership through the adoption of an ethical and transparent approach to data and technology can brands rebuild trust with the Australian public.
As the old adage goes, trust takes years to earn and seconds to break. It’s one of the most valuable commodities a brand can have, and yet, the 2020 Edelman Trust Barometer has shown we’re now operating in a world where a crisis of trust is taking hold. Aussies are losing trust at a rapid rate, particularly in the face of confusing new technologies like open banking, which means that now more than ever it’s essential for brands to ensure they behave ethically and openly in relation to data if they are to build and maintain consumer trust, bucking the current trend.