April 16, 2010

Role of social media in building trust

Paul Dunay wrote an interesting post on the role of social media to build trust in business using results from recently published Edelman Trust Barometer 2010.

60% of people in the age of 25-64 said they need to hear a message 3-5 times from a company before they can trust it.

Paul wrote:
"Social Media can actually help accelerate this stat for you because of the viral effect. "
I agree with Paul that social media can accelerate this, especially if a company's social media message gets picked up and echoed by analysts and business press (see how that can happen).

You ask why? Well this is because the same report (no big surprise here) notes that that people don't perceive all media to be equally credible. In fact according to this Edelman report, people trust analyst and business magazines as the most credible source of information about a company (see the Figure 7, above).

For those interested in another story on building trust with social media, read