Trust Statistics for 2023 that B2B Marketers Will Love
By Joshua Nite
It’s almost Valentine’s Day, that commodified and commercialized celebration of the most bountiful and free resource we have.
But cynicism aside, love in all its forms is a beautiful thing worth celebrating. And one absolutely essential part of love is trust. It’s asking someone to put their trust in you and having faith you will get the same in return. That’s something no amount of flowers and chocolate can buy.
As a marketer, you want customers to fall in love with your brand. But that type of love requires trust, too. And on that point, we’ve got good news and bad news.
Edelman just published their 2023 Trust Barometer. It’s always an eye-opening read, and this year has some fascinating stats that marketers need to know.
Here are some key takeaways from Edelman, along with statistics from a few other trustworthy sources.
5 Top Trust Stats for B2B Marketers in 2023
The past few years have shown that as trust in public institutions continues to wane, businesses become one of the few trusted entities left. That’s an opportunity for marketers, but a responsibility as well. We have to respect and reward that trust, or it won’t last.
1. Business are the only trusted institution (but that’s not saying much)
While “businesses are trusted” is a great headline, the score on Edelman’s trust barometer is only 62. That’s just two points above a neutral score.
By comparison, non-governmental organizations (NGOs) are in the neutral zone with just three fewer points.
Lagging further behind are government (51) and media (50), both hanging out at the low end of the neutral zone.
[bctt tweet=”“As trust in public institutions wanes, businesses become one of the few trusted entities left. That’s an opportunity for marketers, but a responsibility as well. We have to respect and reward that trust, or it won’t last.” @NiteWrites” username=”toprank”]
2. Businesses may be trusted, but their communication methods aren’t
Here’s the conundrum: marketers use social media to reach audiences. But trust for social media is constantly decreasing, and consumers are abandoning platforms that they feel no longer add value.
In Integral Ad Science’s Industry Pulse Report, 77% of media experts agreed that the eroding consumer trust in social media will cause them to spend less on those platforms. Facebook has the worst reputation of the major platforms, with nearly half (49%) of respondents planning to decrease spend there.
If we can’t rely on social media, why not go back to old-fashioned PR and working with journalists?
According to Edelman, journalists are among the least trusted institutional leaders, with only government leaders ranking lower.
<img class="alignnone size-full wp-image-31966" src="https://www.toprankblog.com/wp-content/uploads/edelmen-image-B600w.png" alt="Edelman Chart 2" …read more
Source:: Top Rank Blog