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Marketing Edge » Trust Economy

Trust Has Value

Tuesday, August 18th, 2009

Time 22:33

Trust is not a new thing in marketing and communications. The most trusted name in news, is the most hackneyed phrase on TV. I believe trusted means you transfer your brain space for figuring stuff out to others, you transfer your emotional defense mechanisms to another entity. Like, I trust this pilot to land this plane, or OK Guy Fieri, I’ll trust this place that’s a real dive.

One of the most awaited studies in the PR world is the annual Edelman Public Relations Trust Barometer. Apparently, people like you are trusted by you more than institutions and we’ll see if that changes because more of you are sharing your trust online.

Trust in social media is now at the individual level. Those that have been involved in social media for years probably know of Chris Brogan. His blog is an excellent body of work in the strategy and tactics of being social. He is noted for his candor and the open discussion of issues, and that includes sponsored posts. For that length of service to the community he is trusted.

His journey over several years to build this trust is the foundation of his new book with Julien Smith Trust Agents. In it he describes for two audiences, companies and individuals, the impact of individual trust networks on companies, and how individuals can launch their own journey into building a trusting audience.

Trust like relationships can be fragile, and require lots and lots of work. The more personal, the relationship, the more work. Marketers have never had it as difficult as today, because we have narrowed our marketing down to individual relationships. Those individuals with a trusted following can navigate a company through these uncharted waters, but also have a little learning to do themselves. Brogan is a living example of this and his audiences and clients have benefited. We discuss how trusted individuals with a following also make a living?

I could have made this post be a “How to”, but there are plenty of good social media examples in Trust Agents of how the trust economy can work. What this interview with Chris Brogan gets into in part one is the meaning of trust and the relationship between trust and earning your keep.

We’ll post part two on Thursday, August 20.

Social Monitoring Tools

There is a segment in the interview where Brogan rattles off a bunch of social monitoring tools, these are most of them as promised. Radian 6, Techrgey, Scoutlabs, Nielsen, Visble Measures , Crimson Hexagon, and Spiral 16

If nothing else, if you are an anti-social company, you should build a monitor and react plan.

Trust Agents – The Book Drawing

Send me an email at marketingedge AT providentpartners dot net – put the word trust in the subject line, we’ll put your name in the book drawing contest. No, no you don’t get a drawing of the book, we’ll draw a person’s name and send them a copy of the book, how’s that?