In the constant quest to forge brand-consumer bonds in social media, marketers have paid a lot of attention to friendships. After all, consumers trust the advice and recommendations of their friends above all else, right?
Wrong.
The proportion of people who view their friends and peers as credible sources of information has plummeted from 45 percent to 25 percent since 2008, according to Edelman's Trust Barometer. As Ad Age points out, this decline poses significant questions for marketers. After all, the tremendous influence of peer opinions has been touted as the leading reason many brands are shifting marketing budgets toward social media.
Beyond friends and consumers, sources such as TV, radio, newspapers, and consumer spokespeople also saw a decline in consumer trust. In addition, trust in company employees -- who brands are increasingly trotting out to engage with consumers in the social media sphere -- saw their credibility drop from 31 percent in 2009 to 28 percent this year.
Strangely, CEOs saw the biggest year-over-year increase in trust, from 17 percent in 2009 to 26 percent this year. Government officials, analysts, NGO representatives, and academic authorities also saw their credibility increase.
