Saturday 19 April 2014

Trust Barometer and its implications for social media

The Trust Barometer findings presents interesting implications for businesses in the area of social media. Below are four aspects of the report that we thought are worth highlighting that should help justify an increased spend in the area of social for your business or organisation.

Listening to customer needs and feedback

As the above graphic highlights, listening to customer needs and providing feedback is the best way to build trust among the general public in Australia. Social media is one of the most effective ways to do this. If you are not listening and responding to the conversations occurring in the social space around your brand you may be missing one of the most effective ways to grow your brand’s or organisation’s trust.

CEOs are least trusted company spokespeople 

CEO vs People Like me

Trust in CEOs as a company spokesperson has fallen, whilst ‘a person like me’ has risen. This is an ongoing trend that the Trust Barometer has been highlighting for some years. Community managers and normal employees speaking on behalf of organisations in social media are an effective way of building trust in your brand, especially in times of crisis.

Limiting your spokespeople to handful of very senior people is not the most effective way to build trust.  The days of control communication are over. Open up your communication channels so a wide range of ordinary employees can speak on behalf of your your brand within social media. Of course that is not to say training and governance for people commenting on your brand/organisation in social media is not necessary.

Trust in social media as a credible source of information has doubled

Growth in social media trust

Social media as a trusted source of information about a company has consistently risen over recent years. The 13% above are people that listed the fact they trust information they find about a company on social media ‘a great deal’. It does not mean that 87% of people don’t trust information they read about a company within social media.

If you haven’t already the time to take the jump is here. People are on social media researching your company and are trusting what they read. If you aren’t present you are missing an opportunity to influence and grow trust.

Repetition overcomes skepticism 

Repitition overcomes skepticism

Australians need to be exposed to the same message multiple times before they will trust the information. If you are simply relying on traditional channels you are missing opportunities to repeat your message.

Social media is one of the most cost effective means of communicating frequently. Take advantage of it.

What are your thoughts?

Does the above make sense, does it align with your experience of implementing social media and growing trust within your organisation?

- Matthew Gain