Signal Companies lose 30% of value in a trust breach; trust outranks price for consumers

Summary

EY cites analysis by The Economist showing that companies lose 30% of their value when they lose trust. Its own research finds that trust is the leading factor consumers weigh when deciding whether to use a product or service. Trust ranks above brand reputation, personal recommendations and even price in that decision. EY describes the erosion of trust as a compounding deficit across technology, society and institutions that constrains strategy and destroys value. It argues that organisations which treat trust as a strategic asset to invest in, rather than a compliance duty, will be the ones that thrive.