Consumer trust has become the new battleground for digital success. To win, organizations need to master the fundamentals of data ethics, manage the “give-to-get” ratio and solve the customer trust equation, our recent research reveals. Download the whitepaper: http://cogniz.at/trustYT
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Data is the foundation of trust and changing how we perceive companies with which we interact, and transact. In fact, the data that these companies gather has changed not only the way they deliver products and services, but also the way we make purchase decisions. We surveyed over 2,000 consumers across Asia Pacific and the Middle East to understand the factors that influence their trust.
They told us that this is value that they associate with trust and how they react when the trust is broken. Trust is the new currency and return on trust is the new business performance indicator. More than half of the consumers we surveyed are willing to pay a premium for a product and services from companies they trust more.
In fact, they do not draw strong line between privacy and security. For them, it is the ethical behavior of how companies treat their data that matters most. Our research uncovered two primary elements impacting the value of consumer trust. The first is aggressive data monetization strategy is a recipe for disaster.
75% of consumers we surveyed feel that companies are accessing their personal information that they did not explicitly provide. Roughly, 60% of them will stop doing business with a company that has broken their trust. Second, broken trust can break a business, brand and undermine loyalty. The bad news is that, no industry we studied perceived as highly trustworthy.
Only 43% of consumers we surveyed trust companies fully and nearly 40% plan to switch to the competition or to a digital startup due to the trust issues. In fact, digital startups are winning the consumer trust better. The reason, they are perceived as being more trustworthy the way they treat our personal data compared with established companies.
So, how can you turn trust issues into your biggest asset? Our research highlights two primary moves companies can make to win in the digital economy. The first is by walking the talk. Many companies believe that they have done their job by publishing data privacy and security policies, but more than half of consumers we surveyed told us that making sense of these policies is nearly impossible.
Communication is a two-way street. So, merely stating your organization's policy and then hiding behind the law will not create a sustainable level of trust. Our study indicates that transparency is the top factor upsetting a company's trustworthiness. 45% of consumers we surveyed are willing to share their personal data, if a company asks upfront and clearly states how the data will be used.
The second is by showing the value of trust. As consumers become more educated about how a company's using their data, they want a personal, tangible and image of benefit and return. 70% of consumers we surveyed see a tremendous value in the data and half of those are willing to share it with companies in exchange for some form of value.
We call this the give-to-get ration and managing this straight off transparently is essential to rust to grow, and for the companies to succeed. The biggest threat to companies today is not from competition, but from their ability to win and keep consumer trust. In the coming years, we have won't to hear more businesses suffer financial and repetitional damage due to trust issues as the virtual economy expanse.
Companies that you trust not just as privacy, security or technology issue but a brand building opportunity and place consumers before profits and self-interest will be best equipped to sail through the choppy waters of trust driven business disruption. Learn more about how to master the additional economy fundamentals of data ethics, the give-to-get ratio and the consumer trust equation, but checking out our new study findings.
The Business Value of Trust available now at futureofwork.com and cognizant.com. #digitaltransformation
Although foreigners may now invest in A-shares, there is a monthly 20 percent limit on repatriation of funds to foreign countries.
Performance of A-shares.
Since its inception in 1990, including a major reform in 2002, the index has seen great fluctuations. Overall, however, it has grown along with the Chinese economy. The years 2015 to 2016 were a particularly difficult period, with a 52-week performance of -21.55 percent as of July 20, 2016.
As China grows from an emerging market to an advanced economy, there is substantial demand for Chinese equity. Stock exchange regulators continue efforts to make A-shares more broadly available to foreign investors and have them recognized by the global investing community.
In June 2017, the MSCI Emerging Markets Index announced a long-awaited decision it would add stocks to its index. According to CNBC, MSCI will add 222 China A Large Cap stocks to its benchmark emerging markets index gradually beginning in 2018. The MSCI website reveals the stocks it will list include the Bank of China, China Merchants Bank, Guotai Junan, Ping An Insurance, according to a document on Tsingtao Brewery, SAIC Motor, Suning Commerce and Spring Airlines.
Current Dividend Preference.
Participating Preferred Stock.
Convertible Preferred Stock.
Cumulative preferred stock includes a provision that requires the company to pay preferred shareholders all dividends, including those that were omitted in the past, before the common shareholders are able to receive their dividend payments.
Non-cumulative preferred stock does not issue any omitted or unpaid dividends. If the company chooses not to pay dividends in any given year, the shareholders of the non-cumulative preferred stock have no right or power to claim such forgone dividends at any time in the future.
Participating preferred stock provides its shareholders with the right to be paid dividends in an amount equal to the generally specified rate of preferred dividends, plus an additional dividend based on a predetermined condition. This additional dividend is typically designed to be paid out only if the amount of dividends received by common shareholders is greater than a predetermined per-share amount. If the company is liquidated, participating preferred shareholders may also have the right to be paid back the purchasing price of the stock as well as a pro-rata share of remaining proceeds received by common shareholders.
Significance to Investors.