Monday, July 6, 2020

The New Trust Deficit: Facebook, Facts & a Frantic News Cycle

The U.S. is facing a number of simultaneous crises -- rising COVID infections, ongoing civil rights protests for BLM, an economy in recession that's driving huge job losses, bankruptcies, supply chain issues that could cause further harm. 

But there's one thing making each of those crisis worse, more dangerous and out of control.

It's that we can't agree on a single set of facts.

Instead, we have a credibility gap making things worse. Different parts of the country can't even agree about how to frame the various crises, including those cited above and others that have been in the news lately.

CNN's Reliable Sources newsletter recently called this a "trust deficit" in a story about Facebook and why some companies have stopped buying ads on Facebook.

For Facebook, the trust deficit is fueled by allowing misinformation and hate speech to spread.

Social media platforms use algorithms to continue to feed you content similar to the kinds of content you click on. This makes it easy to perpetuate your bubble because you continually see posts that fit your narrative.

Part of the problem: some information may have already been debunked only after we've seen it. Which is too late. People who consume the original message, and used that to bolster their narrative, rarely see the correction or update afterwards.

Another problem: we're so inundated by news that we're overwhelmed. We don't have time to process yesterday's news. Which means we don't have time to process today's news, to put it into context, to make sure we understand it -- before we're hit with the latest shocking piece of news, which is replaced by the even-more-recent news.

The result: we now live in a world with strongly held opinions that aren't necessarily based on facts. 

Which means: we might not agree that the top stories that are, in fact, the most important stories. 

We certainly don't agree with the implications of those stories -- whether they are fake news or facts might be debatable if we could meaningfully debate these issues. 

And we definitely disagree regarding any possible solution to a given crisis.

It's a helluva way to celebrate our nation's independence. 

We try to avoid taking political stands in this blog. But we're tackling the trust deficit because we do see it as a potential business threat for marketers.

It means that where you advertise (and where you don't), where and what you post could be seen as supporting or fueling the trust deficit. It's more important than ever to think about how you communicate to your publics while being aware and sensitive to how your marketing plays today and how it might play in a couple of years.