Learn How to Create a Strategy to Build Trust
The 11 Principles of Trust - How to Create Business Value Through Trust
Download our white paper to learn how you can build a trust strategy and implement a trust roadmap in your business to build deeper, longer-lasting customer relationships.
The white paper will enable you to:
- Understand why trust is a factor of the value you deliver and the comfort you provide to your customers
- Build a trust strategy around the value you provide to your customers over their lifecycle
- Approach security, privacy, fairness, reliability and transparency to build trust
- Measure your current state and track progress on our maturity model
- See each principle in context through a case study
We believe that this current state of affairs presents a clear opportunity for software vendors to differentiate on trust. Companies that emerge as trust leaders will be able to drive the discussion on how data should be collected, created, used and protected in their ecosystems over the coming years.
The Principles of Trust
There are eleven principles that you can use to help your company adopt trust. The principles can be divided up using the following framework:
Design involves taking a proactive, strategic approach to trust. By designing a holistic trust program, you will have a greater impact than pursuing a series of fragmented initiatives. Understand the needs of your market and prioritize your approach in your planning.
To operationalize your plans, create a roadmap for building trust in terms of value and comfort and publish a set of values that reflect how your organization will use data. Set up a framework for accountability across the organization to make sure that your initiatives are accomplished.
Create new value through trust.
Build trust into your culture.
Security means protecting users’ data from misuse or disclosure to internal and external threats. It is foundational to privacy and reliability. Build an effective security infrastructure before you collect your first piece of customer data. Putting off security improvements is simply another way of accruing technical debt, and a dangerous one at that.
Design resilient systems to reduce the impact of an attack.
Construct a rapid remediation plan and practice using it.
Privacy centers on giving customers control and oversight of their own data. Respecting privacy means understanding what users intend to share, with whom, and for what purpose, and then acting accordingly.
Understand customer and regulatory requirements.
Give customers control and oversight over their data.
Fairness means understanding the impact of your organization on groups and individuals and avoiding outcomes that are corrupt through bad design.
While technology has the power to greatly improve people’s lives, it can also reinforce existing societal biases and unintentionally create new ones. Consider the unintended consequences of your organization on your users and other groups. Make your business model fair for all stakeholders and make efforts to reduce the impact of human bias.
Root out bias.
Develop a fair model for value exchange.
Reliability requires consistently delivering the results you said you would deliver to your customers. It’s essential to understand (and meet or exceed) the performance expectations for your market by managing for any factors that could interrupt your business, such as errors, stability and bias.
Develop processes and controls to monitor and validate the performance of your systems and make sure that you have the knowledge and skills in your organization to predictably deliver value to your users.
Make trust measurable.
Anticipate the unexpected.
Transparency entails being open about your product, business model and policies, and explaining them in clear terms to users. This includes understanding user expectations and being prepared to describe your entire approach, from the choices you make in your system and organizational design to the individual predictions of machine learning models. It’s important to take pride in your approach to trust, and help customers understand how it differentiates you.
A Framework for Building Trust
If you're new to thinking about trust, take a look at our CEO's Guide to Trust to see:
- Why building trust is more important than ever
- The opportunity to build trust
- Case studies on trust-building technologies
- How to build trust in your company
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