I've long been a proponent of social media sites such as Twitter, Facebook, LinkedIn, blogs, and others as they've proven themselves to be wonderful sources of information and referrals. But it appears that the gravy train may be coming to an end, and perhaps it is because users of the social media sites are increasingly realizing that the so-called objective referrals they're receiving from their friends are often made at the request of the marketer and not adequately screened by the friend.
For years, advocates of social media marketing have been telling anyone who would listen that peer-to-peer networks are an incredibly most effective, efficient way of marketing a product, service, employment opportunity, anything because consumers simply trust their peers more than they trust marketers, news outlets, government officials, or industry analysts. However, Edelman just released its annual Trust Barometer and the percentage of people who view their peers as credible sources of information plummeted. In 2008, the percentage who trusted the opinions of their peers was 45 percent. Today, it is only 25 percent.
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