Nilan Peiris: preference

Transcript context

…Well, as you said, trust, which is interesting. Obviously trust matters, but maybe it sounds like- Trust certainly matters. Yeah, trust's a good one. Let's talk about that one bit. I'll talk to you through the trust problem. So I ran into the trust problem hardest in marketing. So, just imagine, you just started out, you've got a money transfer company, it's good, your product's really good, it's really cheap. So, you put an ad out, and it says, "Move money with Wise, and really cheaply," is anyone going to click that? People did, right? Is anyone going to use it? Yeah, people did use it. And you did work all the usual trust elements. But the bit I found that really helped, the way I got my head around this, was what people trust is their friends. And this really was way stronger a trust signal than anything I could put on a landing page. And even when people came in through marketing, they'd been told. So marketing can aid recall, and all kinds of things, because people are told by their friends. They'd have a use case later on, then Google, and like, "Ah, I remember, this guy used this." And we do definitely get users, especially today as we've got a larger brand, through marketing direct. But trust in isolation is a really hard problem to solve. You need to get under the skin of what it means. People don't think my money is safe. "I don't know if this company is reputable," to unpick each of these problems and figure out systemically how to solve them. And we've done this to some extent, but really there's a massive shortcut, which is if you deliver your customers a good experience, then figure out, how do you make it so good they'll recommend it? Then that kind of shortcut a lot of really hard trust problems. What did you find most helped increase trust in that way? Is it just get more people using it and then they'll share with their friends, or is there something you did there to...…

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