Perhaps you’ve heard about a new report that says people's trust in each other's online recommendations about companies has dropped 45%. Does that mean you should forget about doing any social media outreach? Definitely not, says Larry Chasin, President & CEO of Ideal Diamond Solutions, the jewelry industry’s online technology platform provider.
Social marketing -- whether through blogs, Twitter, Facebook comments or any combination of them -- remains an important tool in your marketing arsenal. Chasin points out that these platforms are useful in building and sustaining relationships. And relationships, he adds, remain one of the central planks on which the retail jewelry industry is built.
The new report, entitled "The Edelman Trust Barometer" produced by Edelman, a leading global PR firm, shows that the number of people who view their friends as credible sources of information about a company dropped by almost half, from 45% to 25%, since 2008. However, the report also indicated that trust has diminished across almost all sectors, including government, business and banking. This affects how the report should be interpreted, Chasin says, since people are generally less trustful these days.He offers some perspective on the report, and some points to keep in mind about trust and social media:
- This survey may not be definitive. In fact, the Nielsen company reported last July that "recommendations from personal acquaintances or opinions posted by consumers online are the most trusted forms of advertising." With 90% of consumers surveyed noting that they trust recommendations from people they know, while 70% trusted consumer opinions posted online.
- The rush of publicity about social media has turned it into something of a fad, and while fads don't last, social media will have staying power because it serves a useful function. It helps you build important relationships.
- Word of mouth has always been the best form of advertising, but social media is not exactly the same thing. People behave differently online than in person. So it's no surprise that people might be less trusting than they were in the past, especially as their circles of "friends" grow ever larger. However, that doesn't diminish social media's potential.
- One of the best ways to build trust is to support other local businesses and local causes. Third-party endorsements add credibility and exposure.
- Social media ultimately leads people to your website which is critical to your success as a business. Your website can sell itself and cause folks to walk in your doors. Lead them to do both.
- The latest technological innovations will never be a substitute for outstanding products and services. They don't replace the human factor. That said, make sure your website is as good a tool as you want it to be. One that connects your customers to your store and doesn’t replace, but enhances the personal touch.
Take The Tip:
Ideal Diamond Solutions (IDS) offers virtual diamond inventories and other website enhancements as add-ons to your existing website and also included in their customized website packages. Jewelers of America provides members with great discounts on website packages from IDS. Click here for details.
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