According to a study published this month by Bridge Ratings and the University of Massachusetts, people don't trust advertisers. I don't think this comes as a shock to most of us. 
When asked to rate 10 sources of information in terms of trustworthiness, advertisers ranked higher than just one other source: telemarketers. The results were similar last time the study was conducted ten years ago.
The most interesting part of the study shows the increasing influence of word-of-mouth marketing, viral marketing and social networking marketing. People trust the opinions of friends, family and acquaintances the most, but coming in a close second are the opinions of complete strangers. Also, bloggers were included in the ranking in the 2007 study.
This information is valuable to marketers in that focus and budget may need to shift from traditional advertising to finding "influencers" who will generate a buzz and spread the word about your product or service. I'd imagine that companies who are ahead of the curve in making this change will reap the rewards.
What do you think? The study also showed that 93% of respondents admit to being driven to action by word-of-mouth influence. Do you agree that companies should invest more budget and research into finding ways to exploit word-of-mouth marketing, particularly online, and appeal to influencers?
I rarely go with advertisement alone. I usually ask my family and friends if they have ever tried a product before I use it.
I think advertisers should start tapping this resource in the future. It will probably prove successful to them.
Posted by: Carol | August 7, 2007 3:00 PM | Permalink to Comment