Digital strategy for the world we live in

Where Are You on the Trust Barometer?

Whenever the social media conversation shifts to “influence” – who has it, how you can get it and what it’s worth, you know we’re talking trust. After all, what we perceive as “influence” is simply a combination of trust and relevance – a heady mix of the right audience, a trusted shepherd and a call to action.

Don’t believe me?

Nicholas Christakis has an interesting post on the power of twitter and its ability to influence a large following. As he explains, Alyssa Milano with her celebrity and her 1.3 million strong Twitter following would normally be considered “influential”. But when she tweeted out a link to the Amazon page of a book called Connected: The Surprising Power of Our Social Networks & How They Shape Our Lives, the roar of social media silence was deafening.  There was not ONE clickthrough. Not one sale.

It seems – finally – that we are seeing the reality of trust and the power of relevance. That’s why I am particularly interested in this report from Edelman Australia – the 2011 Australian Edelman Trust Barometer.

Launched today (see the Tweetstream), this is the third survey to be carried out in Australia, but we are already seeing some interesting trending:

  • Coming out of the GFC, we saw an upswing in trust in government (54%) and businesses (52%)
  • Trust in NGOs (65%) is the highest of any Australian institution, with the Media well down at 32%

The full report is embedded below and can be downloaded from Slideshare. It makes for interesting reading.

But what does this mean for brands and marketers?

As one of the launch panellists, Vanessa Hall, pointed out, trust is created through the interplay of the message or story the brand wants to tell, the expectations of your customers/stakeholders and the promise that exists between the two (my interpretation here). This is where the challenge comes – after all, our customers are rarely interested in the brand story, and their interpretation of your brand promise is often different from where you (on the client or agency side) tend to see it.

And with social media, individuals are now well equipped to engage with brands in a public (and searchable) sphere. Positive and negative brand experiences can be published, shared and amplified around the world in minutes – and this makes “trust” all the more important. As the report points out, “Trust is a protective agent …”. And yes, it can lead to tangible sales.

But, we need to consider the following trends:

  • Aligning our business purpose with a greater good (CSR is a good start)
  • Strong support for NGOs (consider partnering with an NGO to build your trust profile)
  • Multiple voices in multiple channels (while CEOs have increased level of trust and respect, use expert voices across your business and in multiple channels to build a network of influence)

Perhaps, most importantly, you need to think about all this in relation to YOUR business. Where do you sit on the trust barometer? And how are you going to improve?