Last week Nielsen released the 2009 Global Online Consumer Survey of over 25,000 Internet consumers from 50 countries. The survey covers degrees of trust consumers have for advertisers/brands. Online people trust others opinions more than ads and the media. For example, the newspaper industry has lost significant trust within the last 2 years.
- 90% of consumers trusted recommendations from people personally knew
- 70% trusted opinions from other online users
- 70% trusted brand websites.
- For companies not engaging in the social media marketing miss out on market research, feedback and opportunities.
- Brands have had to increase their transparency, and be more honest because consumers can go and search for the truth online, offered by strangers.
- Those companies who value the opinions and expressions of their customers by displaying them on the company website showing complete transparency, companies build trust.What should companies improve their relationships with online consumers?