Social networks are being used more and more as personal search engines by people looking for products and services who are using “social trust” as a guide -- and as the infographic below demonstrates, tapping into this phenomenon is critical for practices that thrive on referrals.
Relying on social trust is especially prevalent in the under-30 age group. Tens of thousands of searches are conducted every day on social networks for resources and reviews of products, services, and service providers.
As we know, all things being equal, people buy from people they know, like and trust. By extension, people trust their personal networks to point them in the right direction.
This long-time phenomenon of asking your friends and colleagues for a referral has simply gone viral and online. Social networks are quickly multiplying the number of connections a person can ask when seeking a referral to a trusted advisor.
To capitalize on social trust, you need to be active on social networks, engaging with potential clients and referral sources. If you don’t, you’re missing out on a fantastic opportunity to cultivate referrals.