By Mike Mulvihill
Photo: Exercise in Mistrust from Black wolf
Okay, so the last 18 months have been near cataclysmic for many Americans. We lost our money in the stock market, our jobs and even our homes. We’re mired in a two-front war. We loaned money to save the very institutions that created the financial collapse of the Great Recession, only to have them thumb their noses at us by loaning little of our money to help small business and average American’s while they continue to pay out big bonuses.
No, I’m not disillusioned (well, maybe a little). But now the 2009 edition of the highly respected Edelman Trust Barometer reveals that we have lost trust in virtually every form of communications, most industries and all but a few people. To this, I feel I must quote Homer Simpson, “D’oh!”
I trust my dog and my mom less this year than I did in early 2008. (I pick them not only to make a sardonic point but because neither has a computer or cell phone where they read this betrayal.) As Richard Edelman said about the study, “The events of the last 18 months have scared people.” Damn straight it did. And fear is the antibody of trust.
Michael Bush’s article Monday (Feb. 8) in Ad Age about the Trust Barometer purports that the survey shows that social media waned in 2009. The evidence? The number of people who view their friends and peers as credible sources of information about a company dropped by almost half, from 45 percent in 2008 to 25 percent. Not surprising given the general sentiment and how many more people are using – or, perhaps more accurately, misusing – social media over this same time period.
Several blogs, among them Going Social Now, disagree. They even go into great detail about what makes certain individuals more credible than others and that individuals are more credible sources of information about products than they are on companies. I mostly agree with these points.
But Edelman staffer Steve Rubel does a good job of putting things in perspective – “…for social media the Trust data shows that we’re desperately seeking out experts. It means that we’ll have to work harder to build credibility through online thought leadership.”
Who is credible? The sources we trust more this year than we did in 2008 include CEO’s (26 percent), government officials (27 percent), NGO representatives (44 percent), financial/industry analyst (52 percent) and academic experts (64 percent). While increased trust in CEOs and government officials is, at least to me, surprising, their numbers are still relatively anemic. (And to put this in perspective, the study says I trust my friends as credible sources about a company on a par with the CEO? I don’t think that’s saying much about the CEO.) Meanwhile, perceived independent experts – like analysts and academicians – carry some considerable credibility.
There’s a lot of noise in social media and a lot of companies using social media as part of their marketing mix. Like any medium, perhaps those with the most knowledge and expertise in a specific topic will carry the most weight – and create the most trusted messages in the social media space. There’s nothing new there.


















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