Is your company nurturing consumer trust? (Part II)
Posted by Chris Tarango on Wed, Aug 24, 2011 @ 04:58 PM
In this series on consumer trust trends, we are shining a light on the relationship between businesses and their target audiences. Last time we discussed the emergence of trust as one of the most influential strategic assets for successful companies. Today we are sharing insight on the voices audiences trust most.
According to the 2009 Edelman Trust Barometer, in the months after the 2008 financial crisis began, only 31% of the public believed company CEOs were trustworthy sources of information. That number jumps to 50% in the 2011 report. This is a positive sign for the business sector, but short of a firm vote of confidence. One way businesses can earn public trust is by shifting messaging responsibilities away from the CEO. For example, a technical expert within the company is a good choice because the pubic trusts their insight. According to Edelman, third-party advocates, such as noteworthy academic experts or industry analysts also score high among the most trusted public influencers.
Another interesting conclusion in the Edelman report is the public’s migration away from television as a primary source of information. The largest number of respondents, 29%, said their first source for news about a company is an online search engine. Only 12% said TV was their first source for business news, less than online news sources (19%) and print media (15%). Successful companies are adapting to these changes in consumer behavior and relying on inbound marketing efforts to pull in their stakeholders. Through social media and advocate relationships, companies are regaining public trust and reshaping the conversation with their target audiences.
There are many ways for businesses to earn and maintain public trust. At Accolades PR, we are teaching businesses how to reach their audiences and build trust. How is your company working to gain the trust of your audience?