While this shouldn’t be the case, many of us are understandably worried about how our data is stored and handled, especially when it comes to handing over personal and financial information to a company that we’re not familiar with.
High trust digital platforms, on the other hand, are known and welcomed by consumers for the added importance they place on safety, privacy, security, reliability, and data ethics. In order to survive in our increasingly digital world, this is something all businesses should be striving toward.
As we take a closer look at Scottish businesses—particularly those looking to scale up in size and revenue – enhancing customer loyalty through trust-building methods is something we can learn from these high trust digital platforms.
In this article, we’ll take a closer look at what high trust digital platforms are, how they’re relevant to Scottish businesses, what key lessons we can learn from those already performing at a high level, and how these learnings can then be successfully applied.
Defining high trust digital platforms
In simple terms, a high trust digital platform is an organization that places a strong emphasis on security, which may come in the form of robust encryption when processing sensitive data, or having clearly outlined data protection measures to prevent unauthorized access and abuse.
Similarly, these platforms are also seen to have very clear privacy policies and easily accessible pricing models, making it simple for customers to understand what they’re paying for without worrying about hidden fees, poor performance or the platform suddenly going down at a key time.
A great example of a high trust digital platform that Scottish businesses can learn from is Skyscanner. Sky Scanner’s Customer Charter is a great example of how transparency regarding pricing, advertising and how information is presented to users can actually massively increase trust.
Trust is more important than ever. With countless platforms all competing for a finite number of new and repeat customers, brand loyalty has become increasingly targeted. For Scotland, which is home to over 300,000 SMEs, this added digital push is essential for those wanting to grow.
The importance of trust for Scottish businesses
The importance of these SMEs can’t be overstated within the wider context of the Scottish business landscape, with approximately 33% of workers in Scotland working for one of these businesses, which collectively contribute to 41.7% of private sector turnover.
For SMEs wanting to grow in this increasingly competitive landscape, both at home and abroad, digital trust will be crucial for customer engagement and market expansion. Key to this will be aligning the business’s operations with the Scottish Government’s Digital Strategy, which sets out a vision in which “people can trust public services and businesses to respect privacy and be open and honest in the way data is being used”.
From one sector to another, there will be different tools that should be crucial for businesses wanting to improve the public’s trust in them, which may create opportunities for domestic fin-tech businesses to come in and plug the gap. This, in turn, could lead to further growth in new industries.
Rural connectivity and engaging with those outside the traditional population hubs will be a challenge, as well as evidencing ethical data practices. But with clear benefits of doing so, businesses should be able to address challenges with a clear plan and sufficient reason.
Key lessons from high trust platforms
When we’re looking at the best route to success, it makes sense to look at the wider business landscape and see what the leading companies are doing well, then look at how these examples can be applied to the context of Scottish businesses wanting to build trust and grow ethically.
Security first
An example we can learn from new online casinos is the added security measures they’ve implemented in recent years to build user trust. These platforms operate in one of the most competitive and heavily scrutinized digital industries, where earning and maintaining customer confidence is key to survival. Because new casino operators must differentiate themselves quickly, they often adopt the latest in encryption technologies, two-factor authentication, and transparent licensing protocols, right from launch.
For users, directories that list and vet new online casinos help signal which sites are secure, regulated and user-friendly. For Scottish businesses, especially those handling sensitive user data, these casinos offer a valuable case study in how trust, clarity and technological investment can foster rapid growth in digital-first sectors.
Transparency
As seen with Skyscanner, Scottish businesses should consider making their policies and pricing clear to the public. By doing so, businesses can show customers that they have nothing to hide and that we can trust them, improving the likelihood of engagement and retention.
User-centric design
A website that’s easy to use and navigate is likely to resonate better with users. With intuitive menus and clearly displayed information that includes the website’s privacy policy, cookie policy and contact details, customers can feel confident that a particular business wants customers to visit and engage.
Reliable performance
A website that regularly crashes or suffers from prolonged episodes of downtime is unlikely to inspire confidence. By using services such as cloud storage and on-demand IT support, Scottish businesses can build trust and show users that connectivity and accessibility are clear priorities.
Ethical practices
With the Scottish Government placing a strong emphasis on ethical data practices as part of its new Digital Strategy, businesses would do well to align and make clear their compliance. Efforts such as involving users in key data-oriented decisions or appointing an ethics director could help.
Applying lessons in Scotland’s context
For Scottish SMEs wanting to unlock this trust-facilitated growth, a key focus should be understanding how to better engage with those in rural areas. An easy win here is to optimize platforms and mobile websites for low-bandwidth connectivity, and signpost non-digital contact methods.
Some businesses may not be equipped for this shift toward more ethical and open data management, which could create many opportunities for other businesses to offer support. This would then spur additional growth beyond just the core businesses – assuming this was affordable.
The Digital Boost Development Grant and Digital Development Loan schemes are currently available to Scottish businesses, which could improve engagement. This funding comes directly from the Scottish Government and is aimed at helping businesses improve their digital capabilities.
Final thoughts
High trust digital platforms give us a lot to think about when looking at ways to improve security, transparency and user engagement, especially within the context of Scottish SMEs and identifying areas for growth.
Businesses can unlock this growth by making use of the Scottish Government’s financial support packages, which can make finding support much easier, particularly in niche digital industries, such as fintech.
