Social media is pants says new Grey Consulting report

Grey Consulting has teamed with pollsters YouGov to discover that: 63 per cent of people trust social media platforms less than they did two years ago.

Shift in confidence means 61 per cent of users are being more careful about the privacy of their posts, but only 33 per cent feel they are more in control of their privacy

59 per cent strongly agreed that political advertising should be regulated on social media during elections and referenda (one for Twitter.)

Only four per cent say they trust influencers, 19 per cent trusted brands more than influencers, but 57 per cent trusted neither, highlighting a problem for agencies, brands and advertising on these platforms.

In the case of the latter, it makes you wonder why brands are so keen to use these, um, charlatans.

The survey also says that: 61 per cent of social media users feel that social media should be regulated in the same way as traditional media. 76 per cent said they did not think that regulation was the same, despite the efforts of various regulators.

Grey London CEO Anna Panczyk says: “If the public remains unsure about regulation on social media, then how can trust ever be restored. It’s vital that people understand they are protected when online from the harm of false advertising and disinformation.”

Social media really is the wonder the age: nobody believes it’s straight but that doesn’t stop people signing up for it and using it. A bit like UK politics.

And such beliefs, presumably shared by advertisers in their role as private citizens, show no sign of stemming the flood of money into such media at the expense of more reputable alternatives.

Funny old world. Interesting that newish Grey Consulting is dipping a toe in such waters.

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About Stephen Foster

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Stephen is a former editor of Marketing Week and London Evening Standard advertising columnist. He wrote City Republic for Brand Republic and is a partner in communications consultancy The Editorial Partnership.

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