Social media was considered the single greatest invention of the modern age after the internet itself because of the fact that this is the sort of thing that could potentially end up connecting people in ways that might never have been possible at an earlier time. However, starting in 2016 with Facebook’s rather questionable role in the Cambridge Analytica Scandal, people suddenly started to question whether or not social media platforms could be trusted in the first place and a lot of individuals began to realize just how much control social media platforms had over their lives now.
An analysis conducted by BrandZ has ranked various brands on a variety of factors. These factors were Meaningful which measured whether or not a brand met needs and if it did so well, Different which judged whether or not a brand was a trend setter and if it proved itself to be sufficiently different from any of its competitors, and Salient which gauged the quickness with which people thought of particular brands in certain situations where the brand would have been more or less appropriate to mention all in all.
Now, the thing to note here is that social media brands ranked 67th out of 68 brands in terms of trustworthiness. They ranked lower than tobacco companies which truly is saying something and indicates just how little trust people now have in these kinds of brands. With all of that having been said and now out of the way, it is important to note that these brands continued to perform relatively well in the other factors that we mentioned above which means that there is still quite a bit of hope for them yet which can allow them to get to a point where things can end up going their way despite the lack of trust.
The pandemic has helped a lot in this regard. Instagram has started to get an excellent Salient score of 122 which is 22 points above the 100 point average. Facebook also does well in this regard, but one area that it is starting to lose a bit of steam in is the Meaningful department where it saw a 19 point drop to 137 which really is quite substantial. Instagram has seen a huge uptick in brand value which has increased an incredible 565% over the past four years or so, which mean that Facebook could try and save its future by looking into how it can make the most of its subsidiary. Either way, brands in social networking will have to figure out a way to function without the trust that they used to take for granted from their various consumers.
Read next: Social Media Engagement Data Shows Varying Advertising Consumption Differences Globally, During the Pandemic
An analysis conducted by BrandZ has ranked various brands on a variety of factors. These factors were Meaningful which measured whether or not a brand met needs and if it did so well, Different which judged whether or not a brand was a trend setter and if it proved itself to be sufficiently different from any of its competitors, and Salient which gauged the quickness with which people thought of particular brands in certain situations where the brand would have been more or less appropriate to mention all in all.
Now, the thing to note here is that social media brands ranked 67th out of 68 brands in terms of trustworthiness. They ranked lower than tobacco companies which truly is saying something and indicates just how little trust people now have in these kinds of brands. With all of that having been said and now out of the way, it is important to note that these brands continued to perform relatively well in the other factors that we mentioned above which means that there is still quite a bit of hope for them yet which can allow them to get to a point where things can end up going their way despite the lack of trust.
The pandemic has helped a lot in this regard. Instagram has started to get an excellent Salient score of 122 which is 22 points above the 100 point average. Facebook also does well in this regard, but one area that it is starting to lose a bit of steam in is the Meaningful department where it saw a 19 point drop to 137 which really is quite substantial. Instagram has seen a huge uptick in brand value which has increased an incredible 565% over the past four years or so, which mean that Facebook could try and save its future by looking into how it can make the most of its subsidiary. Either way, brands in social networking will have to figure out a way to function without the trust that they used to take for granted from their various consumers.
Read next: Social Media Engagement Data Shows Varying Advertising Consumption Differences Globally, During the Pandemic
