Company Credibility = Social Proof
Image by Cole de Brito
Credibility is the quality of being trusted or believable.
There’s two ways to build credibility in the business world.
A direct customer relationship where you do what you promise.
Social proof that others value or believe you to be credible.
With no existing customer relationship, the best way to build credibility with them is via social proof.
That is the goal of public relations, building credibility with your target customer.
Why should customers trust your brand? Because Forbes, the New York Times, and NBC quoted them as experts on this subject. Because company executives spoke on several panels. Because 152 people gave their product a 5 star review.
Social proof = credibility.
Want More Marketing Insight?
Subscribe to our Substack for smarter marketing delivered weekly to your inbox!
3 Stories Dominating Media and Tech Headlines
TikTok content creators file lawsuit against Montana over first-in-nation law banning app
Montana became the first state to officially ban TikTok, and many content creators are not happy about it. Five Montana TikTok content creators filed a lawsuit against the state, arguing that the ban is an unconstitutional violation of free speech.
Why it matters: The case will give a glimpse of the legal challenges that a potential nationwide ban of the app might face.
CMOS ARE CUTTING BUDGETS—BUT SOCIAL AD SPEND IS ON THE RISE.
With a struggling economy and looming national debt default, companies are reigning in their marketing spend. 75% of CMOs say they are expected to “do more with less”.
CMOs in the financial sector are particularly strapped this year as marketing is only 7.5% of overall revenue budget, down from 10.4% last year. However; budgets for social media campaigns continue to increase according to 53% of CMOs.
Why it Matters: While other more traditional forms of media may capture broad audiences, social media allows for more targeted marketing and audience data. This makes it a preferable spend for both brands and agencies.
Comcast announces $20 streaming service ‘NOW TV’ with Peacock included, a new streaming bundle for its Xfinity internet customers. The $20 a month package called NOW TV includes Peacock Premium as well as 40 live channels and 20 ad supported channels.
Why it Matters: New bundles are emerging as the competitive streaming market condenses. This new bargain offering will compete with other, more expensive live TV packages like Hulu Live TV and YouTube TV.
Stat of the Week - Where Creator Campaigns Are Happening
Data compiled from eMarketer
Brands and marketers are always trying to keep up with their audiences on social media.
New data from eMarketer finds where brands engage content creators. Instagram receives the lion’s share of branded creator programs with posts included in 84% and reels in 64% of creator campaigns.
TikTok posts barely edge out Facebook posts with 28% and 27% respectively. Other platforms like Twitter, LinkedIn, and Pinterest all garner less than 10% of content requests.
Despite concerns over a potential nationwide TikTok ban, we think the app will continue to grow its share of content creation from brands and influencers alike.
One Fun Thing - How Bluetooth Tech Got Its Name and Logo
Massive brands or technology immersed in our daily lives often have humble beginnings. Bluetooth technology, which connects devices via ultra-high frequency radio waves, comes from the Harold “Bluetooth” Gormsson.
The Scandinavian company hoped their tech would unite devices like the king united danish kingdoms. The bluetooth logo unites both the Nordi H and B to form its iconic blue logo.