As a security provider in 2020, brand trust is paramount. Customers have many reasons to doubt a tech company’s claims and if your brand does not make a conscious effort to validate these claims, you will suffer. Every brand needs to convey that their cloud security product could save a business. Communicating that uniquely is the challenge.
For most industries, the most difficult obstacle to overcomeis getting the customer to pay you. This is particularly true for “neobanks”like Starling, Revolut and Monzo. Despite millions of users and a reputation ofproviding smooth user-experiences, most UK consumers are unwilling to pay forfintech apps.
Stand out from the crowd. It sounds so simple, but a majority of businesses fail to do that. If you don’t stand out from the crowd, you won’t be visible to consumers.
You have approximately one second to capture someone’s attention. Perhaps three – and if you’re really lucky, a few more.
Microsoft, IBM and Amazon have walked away from facial recognition tech in law enforcement. Neither company owns a significant market share, but the reputational risk for continuing with the technology has littered each brand with much bigger problems of protest groups, privacy ethics and years of working through the courts.
Companies looking to position in the AI market will quickly need to satisfy ethical questions for buyers – even though the demand curve looks steep. The impact of buying the ‘wrong AI’ could have huge impact on brand equity.