4 ways to establish trust in social media

Eating our own: How compliance confusion cannibalizes common sense

Don't forget the big picture

Beyond compliance and security, there is also brand reputation to preserve. CMOs and business leaders find it hard to trust that employees or outside influencers won't share something via social that will tarnish the brand or erode their reputation.

It's also a reality that someone can get on a social network and command trust as a representative of the company, regardless of where they are around the globe or whether they have any association with the business. It's often hard for the broad consumer audience to discern the legitimacy of accounts and brand ambassadors.

How do marketers get ahead of these potentially harmful instances and remain sure consumers can trust their brand presence across social media?

Trust isn't just a fleeting dream

So here we stand – seemingly in a tangled web of trust issues. Every stakeholder has a different set of concerns, all of which need to be adequately addressed in order to unlock the power of social media. It can be overwhelming to think about and often puts firms into paralysis, due to a lack of understanding about where to start.

This often results in shutting down or staving off social use altogether. Unfortunately, the firms that choose to opt out will eventually be left behind as consumers increasingly communicate over social networks. The good news is that there are examples of other technologies that were perceived as concerning upon their inception, but eventually overcame the trust barrier with business professionals.

The most obvious example that was met with skepticism but eventually became trusted and commonplace is the evolution of email communication. Many of the same concerns social media faces were raised at the onset of email. Information security threats were heightened, the potential for violation of regulations like the Gramm-Leach-Bliley Act increased (even just by clicking 'forward') and not everyone was comfortable doing business via such an unproven channel. How do I know these emails are from a reputable source? Who can guarantee that our conversations are private, if they're permanently in writing? Will a client ever post our conversation verbatim and issue a blow to our company's reputation? It took time and a relatively clean track record — plus various supporting technologies — for trust to be established in this communication channel and for a window to be opened to widespread adoption and success. Now we send emails in a business context every single day without batting an eye.

Whenever a new communication channel arises, especially for business purposes, there's always a new level of risk that's introduced. In these situations, there's usually an ecosystem of tech platforms that develop expertise to deal with those risks. We're now at that point with social media.

Social media's risk and trust deficit can and needs to be addressed through good compliance hygiene and the right technology. As firms employ compliance platforms and best practices, social media will become more trusted by regulators and the entire market. By creating an easily understood social media policy, providing employees with proper training on the ins and outs of using social networks, and implementing technologies that provide guardrails and help defend the business from potential issues, companies can make social a safe environment for conducting real business. All three of those measures are key to building the trust necessitated by all involved stakeholders; no one leg of the tripod can stand on its own.

Trust will be the final hurdle to social becoming a secure, predictable and beneficial communication channel for insurance firms and agents, and most importantly, for their customers. With that end in mind, it's incumbent upon every company, large and small, to implement the right technologies and start laying the bricks of social trust now.

See also:

There is no excuse for online idiocy

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