So, apparently, people don’t trust marketers.
Yes. It came as a huge shock to me too.
No matter how pure your marketing goals, it would seem that many customers just don’t believe that you have their best interests at heart.
According to the 2015 Customer Trust Survey, conducted by ReRez Research, less than half of consumers trust advertising – a mere 47%.
The survey outlined some interesting data and revealed a disconnect between what marketers think influences customer buying decisions and what customers actually thought about these advertising mediums.
Here are a few key takeaways from the report:
83% of the marketers surveyed believed that advertising was the most effective tactic to influence a customer’s buying decisions.
And 78% of them planned to increase investments in this area.
Marketers are still focusing on traditional advertising channels even though consumers expressed that they were far more likely to make a purchase based on a recommendation from a trusted third party.
Sounds like it’s time for a shift…
While the traditional advertising route may have taken a hit in recent years, quality content and engagement with consumers is an important trust factor.
70% of the consumers surveyed stated that Quality Company Content would increase their likelihood of purchasing a specific product.
Strong social media activity was selected as an element that would positively influence a buying decision by 53% of consumers.
This appears to indicate that connecting with customers through brand presence is more persuasive than simply funneling money into advertising.
The top three sources trusted by the consumers surveyed were:
1) Friends and Family at 81%
2) Online Reviews at 76%
3) And Third-Party Experts at 70%
It is also interesting to note that when consumers were in the process of making a buying decision, 72% rated Online Reviews and Friends and Family to be equally important.
For years businesses have believed that the best customers were referred to them through friends and family. Now, online reviews seem to hold just as much weight as trusted acquaintances.
So in addition to shifting attitudes about the best marketing strategies to embark on, marketers also need to monitor and take charge of what is being said about their business online.
Marketers no longer have to guess at what works.