Events in the past couple of years have shown how easy it is for a company to lose its reputation and trust with consumers. The tech industry is far from immune, with a report from Dentsu Aegis Network findings that the main driver of consumer distrust with tech companies is the misuse of personal data.
Of the more than 43,000 people surveyed globally, almost two-thirds (64%) stated that they believe that misusing personal data was the main cause for not trusting tech companies.
This distrust has had a profound effect on the reputation of many tech companies.
Other recent research shows that in the US, only one major tech company (Netflix) placed in the top 10 most reputable companies, while Facebook and Google didn’t even appear in the top 100.
In fact, 78% of all respondents to Dentsu’s study said they would be likely or very likely to stop doing business with a company who had misused their personal data.
Not straying far from the total percentage, three-quarters (75%) of US respondents said they were likely to cease purchasing from a company that misused their data. Read the rest at Marketing Charts.