Not just seen, but believed: trust is the new mandate for marketing and comms

In marketing and communications, the primary focus is often on expanding the audience reach, but it would be more beneficial to prioritize establishing trust instead. The prevailing lack of trust in American society has deeply infiltrated various aspects of institutions, resulting in significant consequences for businesses.

When consumers lack trust in a company, they are less inclined to make purchases. Convincing potential customers requires more effort, interactions, and evidence, ultimately leading to increased costs. Numerous surveys have highlighted the impact of trust in B2B marketing, with sales cycles becoming longer and necessitating more engagements. Communication lies at the core of marketing, serving as a pathway to building trust. Therefore, reducing marketing budgets can prolong sales cycles.

Various reliable studies have unveiled concerning statistics, indicating a widespread lack of trust across different sectors. For instance, only 23% of Americans trust their government, 36% trust the media, and trust in science remains low post-pandemic. In the business realm, less than one-third of employees feel trusted by their bosses, and vice versa for business leaders trusting their employees. Customers tend to trust other customers and employees more than social media influencers, journalists, celebrities, and executives.

According to a survey conducted by Praytell in collaboration with YouGov, 51% of respondents prefer a mix of traditional and emerging media for making purchasing decisions. The key takeaway is that instead of solely focusing on expanding reach, marketing and communications should shift their emphasis towards fostering trust. As stated by Praytell, in a world where influence is dispersed and earning trust is increasingly challenging, brands must now focus on being believed rather than just being seen.

There is a growing consensus in B2B circles that marketing strategies need to evolve due to their ineffectiveness. While discussions often revolve around sales-marketing alignment and tactical mix, the fundamental issue lies in the lack of belief in the messages conveyed to buyers. To make progress, it is crucial to redirect marketing and communications efforts towards building trust, as a new approach is needed to address the prevailing trust deficit.