How can you build trust and why is it important

The following is a good bit of content that Michael Charles wrote for our 'about' page on Mashedin.com. I'm publishing it here because I think it does a good job of explaining why trust is important. For more on this topic, see this post by Greg Ferenstein.

so, what exactly is this mashedin thing all about?

It's about creating a sense of trust among people who've never met.

In the offline world, when we're introduced to someone, we quickly discover mutual connections that allow us to make judgments about the trustworthiness of the new acquaintance. So you used to work at WidgetCorp? Do you know Jane Schlumpford?

We've created a way to replicate that experience online. Whether you're displaying the MashedIn widget on your website or blog, or just linking to your MashedIn profile on outgoing emails, now you can show strangers how they're connected to you through the social networks you already use. Maybe they're not strangers after all.

how will this help me build my online reputation?

MashedIn really becomes potent when you add the ability for visitors to leave recommendations that can be viewed by other visitors.

People no longer trust testimonials published by website owners rather than by fellow users. Why should we believe that "Bob from Arizona" is a real person? Wouldn't you rather be endorsed by someone whose authenticity can be confirmed by checking their Facebook, Twitter, or LinkedIn profile?

MashedIn makes it easy to gather recommendations from your existing customers and contacts - simply by sending them a link to your widget and asking for their kind words. Your MashedIn widget can be placed on multiple sites so recommendations can be gathered wherever you have a presence. All of your recommendations will be displayed everywhere your widget appears.

is this really the best way to build trust online?

We've got some evidence to back us up:

• "90% of consumers online trust recommendations from people they know; 70% trust opinions of unknown users." (Econsultancy, July 2009)
• "Recommendations from family and friends trump all other consumer touchpoints when it comes to influencing purchases, according to ZenithOptimedia." (AdAge, April 2008)
• "Consumers trust friends above experts when it comes to product recommendations (65% trust friends, 27% trust experts, 8% trust celebrities)." (Yankelovich)
• "67% of shoppers spend more online after recommendations from online community of friends."(Internet Retailer, September 2009)
• "Customer reviews are the most effective social tactic for driving sales, followed by question-and-answer features and a Facebook fan page where companies post information." (Etailing survey of 117 companies, September 2009)
• "Some 70% of Americans say they consult product reviews or consumer ratings before making a purchase, according to an October 2008 survey by Penn, Schoen & Berland Associates, a research and consulting firm." (Business Week, October 2009)
• "The Trust in Advertising survey of 26,000+ found that Consumer Recommendations are the most credible form of advertising." ("Social Media Marketing: The Right Strategy for Tough Economic Times", Awareness, 2008)
• "56% of UK website owners say that user-generated content lifts conversion levels; 77% say it increases traffic; and 42% say it increases the average spend on site. (eConsultancy survey of 360 website owners across all sectors, November 2008)
• "84% of marketers agree that building customer trust will become marketing's primary objective."(1to1 Media survey of the 1to1 Xchange panel, April 2008)

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