Trust Barometer Reveals Need For Mature Social Media
This year, even more than in recent years, I find the results of the survey fascinating from both traditional and digital communications standpoints
The broad findings of this year’s survey are themselves interesting:
Credentials Count More Than Ever
- Trust in experts rose over the last year — and after years of being at or near the bottom, CEOs saw an increase in credibility, rising from eighth (bottom) to fifth in the rankings.
- 99 per cent of informed publics find academics and experts — long the front runners — “extremely,” “very,” or “somewhat” credible.
Trust in Canadian Businesses
- Canadian headquartered companies maintain high levels of trust, at 75 per cent.
- In Canada, trust in NGOs exceeds trust in business.
- When a company is not trusted, 63% of people informed publics will believe negative information after hearing it 1-2 times. When the company is trusted, that falls to 22%.
- When a company is trusted, 40% of people informed publics will believe positive information after hearing it 1-2 times, compared to just 7% if that company is not trusted.
- In general, 65% of people informed publics need to hear something 3-5 times before it is trusted.
- The new trust framework involves profit with purpose, engagement with stakeholders and transparency around the company’s activities.
Social media and trust
Deeper within this year’s results, there are some really interesting findings for people in the social media space:
The fall of “people like me”
Trust in “people like me,” which peaked in 2006, fell 11% this year. While it’s still high – 80% of Canadians informed publics trust ‘people like them’ as an information source – it fell to the bottom of the rankings, below CEOs, regular employees and technical experts
For companies engaged in social media activities, this is a clear pointer that they need to incorporate a range of spokespeople in their activities. Relying purely on ‘word of mouth’ is not enough. Combined with the findings about the number of times people need to hear something, this points to the need for integrated communications approaches using a variety of sources and spokespeople to reach companies’ audiences.
The credibility of online news
Online search engines are Canadians’ respondents’ number one source for news and information about a company. Social media comes in at the bottom of the list.
Frankly, this isn’t too surprising, from a couple of angles.
Social media is increasingly moving to bite-size chunks, and taking on a role as a portal to company news. As such, there’s less room for context and for fact-checking, leading people to look elsewhere for information about a company (Richard did make a point that the research looked more at company information for considering stock purchases, for example, than at information for consumer-level purchase decisions).
Secondly, as outlined in my 2011 trends presentation, search strategies are becoming increasingly important to digital activities – not just from a content development perspective but at a strategic, cross-channel level.
Thirdly, the lines around “social media” are becoming blurred. For example, company websites may make a resurgence, as companies integrate the social graph into their owned media (see Etsy, Levi’s (client) for example). Does that count as social media? Is the Huffington Post a blog or a news site? It’s not a black and white distinction.
Fourthly, there’s much more to social media than just reaching consumers. Key influencers, stakeholders and mainstream media can all be engaged through these channels.
Social media needs to mature
This all speaks to a broader need for a more mature approach to social media. It’s not enough to just be there any more – those times have come and gone (good riddance). It’s not enough to just tweet something out and expect everyone to believe it. It’s certainly not enough to let your social media channels operate in a corporate silo, detached from other communications functions.
To continue to approach social media in this immature way is a recipe for failure.
It’s time for a more mature approach to social media and trust – one that integrates different media forms; one that engages people over the long term and one that takes a more considered approach to generating trust among audiences.
What do you think?
Here’s the executive summary of this year’s results. Take a look for yourself, and tell me – what are the stand-out results for you?
(Updated thanks to some thoughtful input from Daniel Blouin in the comments below)