This chapter identifies various individual and collective online trust transferring techniques that e-merchants can employ for their business growth. The individual sources include, Web user interface, provision of alternate dispute resolution, and availability of transaction insurance. The collective online trust transferring derivatives include trusted referrals, online reputation and use of privacy and security seals. In the next section an overview of each technique is presented. Followed by the overview, a conceptual model is presented which outlines the impact of each trust transferring source on different dynamics of e-business and each dynamic’s characteristics. The proposed model targets to assist the e-businesses to select a right combination of trust derivatives. Further assisting the e businesses in enhancing their brand value based on the behavior of their potential customer base.
Online Trust Transferring Techniques
Individual and collective trust transferring practices are the two groups of techniques that can be employed by e-merchants to enhance users trust on them. The recognized techniques are discussed below.
Key Terms in this Chapter
Online Reputation: Online reputation is the online information regarding an e-business from the past direct or indirect experiences of a large body of users. It is the general opinion of the users toward a person, a group of people, or an organization in the cyberspace.
Web 2.0: Web 2.0 is a network platform, enabling the utilization of distributed services such as social networking and communication tools. It is also referred as the architecture of participation.
Trust: Trust is the subjective estimation by which an individual, A, estimates about how likely another individual, B, performs a given task on which the subject’s welfare (interests) depends. It also consists of the elements of dependence, competence, disposition, and fulfillment.
Privacy Statement: Privacy statement is a statement posted on the company’s or individual’s Website that explains the personal information being collected with or without a visitor’s consent, the reasons it is being collected, and how the collected information will be used or shared. The privacy statement also states that how the information provided by someone else is used and shared.
Trusted Referral: Trusted referral is the information regarding a product or physical or online business, service or individual acquired from either the user’s physical or online trusted network. It impacts the user’s initial and subsequent levels of trust in an online business. The impact is directly related to the user’s level of trust on the source in terms of source’s credibility, honesty and ability.
Collective Trust Transfer: Collective trust transferring techniques rely on combined effort of several users, service providers, and communities. Such techniques have much wider impact on potential customers, as they involve large number of contributing parties and are widely available.