How to Build Trust Online | Adam Rodricks | TEDxTorontoMetU

TL;DR

Trust online is shifting away from mega influencers and towards real people engaging in authentic conversations, leading to the emergence of micro influencers and employee advocacy.

Transcript

foreign have I ever told you that I don't do the whole online dating thing no I've never how has that never come up when we've spoken before oh you know what it is it's probably because you and I are meeting right now for the first time in this instance right here that's probably what it is but stay with me there's a good story just just trust me I... Read More

Key Insights

• 💔 Trust in online dating can be easily shattered by negative experiences, leading to a shift away from trusting mega influencers and corporations.
• 💼 Companies who lack an online presence are at risk as fake news, misinformation, and lack of customer service can damage trust in their brand.
• 🌐 Social e-commerce has struggled due to a lack of trust in both vendors and social media platforms, leading to delayed rollouts and shutdowns of live shopping features.
• 📱 Trust has shifted from outside networks to inside our immediate circles, relying on personal experiences and the recommendations of people we know, such as micro and nano influencers.
• 💻 Building trust online involves creating authentic conversations and nurturing internal trust creators within a company, such as employees who can advocate for the brand.
• 🏭 Trust in big corporate brands is diminishing as individuals have 10 times the reach and engagement compared to faceless entities.
• 🌍 Trust online is becoming increasingly important, with 77% of respondents saying their most important group is an online community, and first impressions are often made online instead of in person.
• 💯 Trust is shifting closer to home, with real people talking to real people in established online communities, leading to a growing creator economy.

Questions & Answers

Q: How has trust shifted in the online landscape?

Trust in the online landscape has shifted away from mega influencers and corporations to real people, with a focus on micro influencers and employee advocacy. This shift is due to factors such as fake news, misinformation, and the lack of online community and customer service. Trust is now built through authentic conversations with real people.

Q: Why has trust in social e-commerce decreased in North American and European markets?

Trust in social e-commerce has decreased in North American and European markets due to a lack of trust in vendors and social platforms. Consumers don't believe that the goods and services they are transacting for are genuine because they don't trust the interactions that stem from them. This lack of trust has led to the failure of social e-commerce initiatives.

Q: How did the speaker's experience in CES lead to the realization of trust issues online?

The speaker's experience in CES highlighted three factors that destroy trust online: fake news, misinformation, and a lack of online community. The speaker met a person named Paul who believed that online interactions through social media could only breed bad press for brands. When they searched Paul's brand online, they found fake news, misinformation, and a lack of online community, which mortified Paul and illustrated the trust issues present online.

Q: How did the speaker showcase the shift of trust at Best Buy?

The speaker explained how trust has shifted at Best Buy. In the past, customers would look for employees in blue shirts for expertise and trust. Today, customers look at their smartphones for information and trust, as they can access online resources and reviews. This shift demonstrates the changing landscape of trust from external sources to personal experiences and immediate networks.

Q: Why did the influencer model shift towards micro influencers?

The influencer model shifted towards micro influencers due to a realization of the limited influence mega influencers had in driving sales. The speaker shared the story of Ariana Renee, who had 2.6 million followers but struggled to sell 36 shirts for a brand partnership. This misstep led to the emergence of the micro influencer model, where smaller-scale influencers have a more intimate and trusted relationship with their audiences, leading to higher engagement and conversions.

Q: How did Marcus Sheridan save his pool company using trust?

Marcus Sheridan saved his pool company by focusing on building trust. During the financial crisis, he answered every pool-related question online, even difficult ones around price transparency. This transparency and expertise led to his company becoming the most searched-for pool company and saved his business. Marcus's case highlights the importance of cultivating trust within a business and using employee advocacy to nurture conversations and relationships with customers.

Q: Why is trust shifting towards real people in the online world?

Trust is shifting towards real people in the online world because we increasingly prioritize online communities and the opinions of people within our immediate networks. Studies show that online groups are considered crucial by many individuals, especially younger generations, who believe that first impressions online are more important than in-person encounters. This shift towards trusting real people stems from a desire for authenticity and personal experiences, leading to the decline of trust in corporations and influencers.

Summary & Key Takeaways

• The speaker shares their personal experience with online dating and how it shattered their trust in online interactions.

• The three factors that destroy trust online are fake news, misinformation, and a lack of online community and customer service.

• Trust has shifted away from mega influencers and corporations to real people, including micro influencers and employee advocates.