According to a study by Edelman, trust in peers has increased from 20% in 2003 to 68% today. That’s a massive spike.
“We have reached an important juncture, where the lack of trust in established institutions and figures of authority has motivated people to trust their peers as the best sources of information about a company,” said Richard Edelman, president and CEO, Edelman. “Companies need to move away from sole reliance on top-down messages delivered to elites toward fostering peer-to-peer dialogue among consumers and employees, activating a company’s most credible advocates.”
In a seeming contradiction to the above statement, articles in business magazines are the most credible source of information about a company, followed closely by the words of friends and family.
via: Digital Hive