Let’s Talk About Trust, Baby

Last week, Team Okanjo attended the Marquette University Insight Summit Series. This was Marquette’s fourth annual Digital Summit. The Summit featured 12 sessions from digital thought leaders in the industry, including one on Native Commerce from our own Erin Ulicki. The information shared ranged from the number of “Shower” playlists on Spotify (40,000+, holy cow!), to reminding us that there should always be a human element to what we do as marketers. While all the information was helpful, one thing in particular really struck a cord…

“Consumer trust is at all time high”  – Mac Delaney, Head of Programmatic at Merkle

Hold the phone. Let’s think about that for a second. When I think of consumer trust, a few things come to mind. For starters, how about data breach? It seems everywhere we turn, dating sites, banking sites, insurance sites or another large company is slowly raising their hand to join the “Houston, we have a problem” club. So how can this be? How can consumer trust be at an all time high?

Thankfully I brought my attention back to catch the explanation. Here goes: Several years ago, would you have imagined hitching a ride with a complete stranger? Could you have imagined with the touch of a button, a stranger would pull up and you would get in the car, and leave. We’re not talking about the Yellow kind, with TAXI on top, we’re talking a Toyota Camry and a driver you found on an app. Hello, Uber. How about posting pictures and information about your apartment, condo, or home and opening it up to a complete stranger, from across the country? Ahh yes, Airbnb. And it doesn’t stop there—we’re sharing our cars, offices and even our pets. We’re inviting strangers inside to clean our homes and fold our laundry.

How is this possible? Trust and technology. It’s what TED Talks Rachel Botsman calls “collaborative consumption.” It’s using the power of technology to build trust between strangers. We’ve evolved from trusting people online to share basic information, to trusting to hand over our credit card information. Now, we’re trusting complete strangers to create people-powered marketplaces. The result? Meaningful connections and a powerful community. 

Do you believe consumer trust is at an all-time high? Have you embraced the idea of collaborative consumption? We’d love to hear your thoughts.

Tech TrendsMegan Baylerian