Consumer trust, it is a key variable in our marketing efforts. Is the channel I choose to market my business or services considered reputable and trusted by consumers. All of us understand that word of mouth advertising although often elusive, is the most dynamic marketing any of us can achieve. However recent surveys suggest that we don't trust our friends like we used to.
According to a survey we found at Statista.com Americans are starting turn a sharp ear toward personal recommendations. 8% drop in consumer trust since 2011. This study does not say why, but is it to much of a stretch to believe the proliferation of social media sharing and promotion have started to erode our confidence in our fiends and communities ability to judge what is good or bad for us?
A further look at this study finds that Word of mouth is the only category with a negative growth pattern in consumer trust. Now to be fair 82% of people still believe it is the most trusted source of information which is 15% higher then the next group of trusted resources (online Directories and Newspaper editorial content).
Charlie Pankey is a former publisher in Nevada and current small business owner