To Thrive, Organizations Will Make Consumer And Employee Trust Their Business Imperative

CAMBRIDGE, Mass., March 25, 2022 / PRNewswire / — According to Forrester’s (Nasdaq: FORR ) 2023 forecast, released today, trust will be the most important aspect of corporate marketing in the years ahead according to executives. business and technology focus on the importance of long-term growth. Current events, including economic and financial instability, geographic uncertainty, business scandals, and climate change, undermine consumer confidence in organizations. – nearly 40% of US consumers should not do business with a product based on bad news.

Companies that gain more trust with customers and employees lead to ethical practices such as retention and advocacy, contributing to success and growth go long. As consumer and employee distrust increases, in 2023, regulators will step in and crack down on green water, misinformation, and employee oversight. Forrester predicts that many companies will be fined millions in cash penalties, while C-level executives will be fired for their company’s use of employee monitoring.

Forrester’s forecasts identify changes and trends in different topics and industries, including technology and innovation, customer experience (CX), change , intelligence and technology, and the future of work. These insights help business and technology leaders see around the corner and gain a competitive edge in the years to come.

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Highlights of Forrester’s 2023 forecast include:

  • Confidence in technology companies will drop 15%. Waning tech dependency, together with technology company scandals, inability to protect users from emerging risks, and lack of good practice measures in their digital environment, will for customer confidence.
  • At least 10 companies will appear $5 million or more in greenwashing penalty. Greenwashing reviews by distrustful consumers and lobbyists will increase, pushing regulators to companies that spend more time and money on marketing themselves. As environmental awareness more than possible to reduce their environmental impact.
  • Using AI to monitor home operations will increase employee confidence. Steady progress and industry-leading use of AI to track employee productivity will result in more than half of the workforce actively seeking new ways of new organizations in the coming years, Forrester found. Workers’ skepticism will be further encouraged by the 40% of mixed-use companies trying – and failing – to roll back their right to work anywhere.
  • Banks will lose customer confidence during a financial crisis. Consumer confidence in banks has fallen for the first time in several years, as many consumers believe their banks lack understanding and do not follow the advice learned from transmission, according to Forrester.
  • People’s faith in the government will increase in America. In 2023, the United States will build trust — the ability of government to keep people safe, promote economic growth, and bring prosperity through crisis — based on as the main power of trust while also investing more in trust such as responsibility, ability. , and transparent.
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“In 2023, successful leaders will focus on eliminating exploitation and achieving long-term growth,” Sharyn Leaver, research director at Forrester. “Building trust between customers, employees, and partners is critical to long-term growth. When people have more trust in the company, they are engaged with more and willing to forgive the company’s mistakes. In smart business, focus on Their organization’s role and strength, and build long-term trust with users products and employees, managers will support their company’s future performance.”

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Resources:

  • Download it Forrester’s 2023 Predictions free guide, including 12 big predictions for the coming year.
  • Visit Forrester’s 2023 Predictions hub to explore additional resources.
  • Register to attend Forrester’s Security & Risk and Data Strategy & Insights Forums, where analysts will reveal key changes for the coming year.

About Forrester

Forrester (Nasdaq: FORR) is one of the world’s leading research and consulting firms. We help leaders across technology, customer experience, digital, marketing, sales, and product implement customer needs to accelerate. Through Forrester’s research, consulting, and events, leaders from around the world are inspired to take bold action – to transform and empower their customers. in the middle of their leadership, strategy, and work. Our unique insight is based on an annual survey of more than 700,000 consumers, business leaders, and technology leaders worldwide; Rigorous and objective research methods, including the Forrester Wave™ assessment; 70 million voice feedback sessions; and sharing knowledge between our customers.

Media Contact:
Ira Kantor
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Forrester Research, Inc.
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SOURCE Forrester

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