DigiCert, Inc. have released its 2022 State of Digital Trust Survey that finds that almost half of consumers (47%) have stopped doing business with a company after losing trust in that company’s digital security.
More tellingly, if companies do not manage digital trust, 84% of their customers would consider switching, with 57% saying switching would be likely.
Digital trust enables organisations and individuals to participate in the connected world with the confidence that their digital footprint is secure.
Amid the backdrop of an expanding attack surface, leading organisations require digital trust for a variety of use cases, including connected device and user identity and access, data integrity, software security, email protection and web and digital content integrity.
Companies that are strategically investing in digital trust are positioning themselves now as stewards of a secure, connected world.
Speaking about the findings, Jason Sabin – CTO at DigiCert – said that digital trust isn’t just an empty phrase and that it’s imperative companies don’t get complacent and take their customers for granted.
“Digital trust isn’t just a buzzword,” Sabin said. “It provides the freedom to fully participate in the digital world. It has become crucial to maintaining customer loyalty and the loss of it has a direct impact to the brand.
“If customers lose confidence in the digital trust competency of a vendor, they’ll eventually leave.”
100% of enterprises surveyed said digital trust is important. Top reasons include the growing importance of data, an expanding threat surface, an increase in bad actors and pressure from customers.
Meanwhile, nearly all (99%) enterprises believe it is possible that their customers would switch to a competitor if they lost trust in the enterprise’s digital security.