Recently Quartz held a survey regarding the trust factor of each tech company from its customers. The survey was based on the fact how much reliable the customers think each tech major is in case of day-to-day usage.
And quite shockingly, Facebook has emerged as the tech company that people trust the least, in the survey results.
These results have recently been reported by Forbes and has caused a major concern among businesses.
People from across 7 countries across the globe have reported Facebook to be partially elusive regarding its privacy concerns and business projections.
What’s even more surprising is that its acquired sibling Instagram has ranked much above and Twitter is far ahead in terms of end-user usage convenience and reliability.
As a matter of fact, Facebook being scrutinized for its handling of data privacy, ad targeting, and propaganda recently, people are trusting them less with their personal data.
In fact, nearly 80% of 1,600 customers surveyed by Forbes said they don’t trust the world’s biggest social networking website with its data.
Forbes quoted:
When asked “Which companies do you trust with your personal data and information?”, only 21% of the respondents chose Facebook when compared with the other four biggest U.S. consumer tech companies.
Now, why this is a major concern for anyone’s business:
Suppose if anyone is selling products or collecting information using Facebook, the producer can suffer substantial loss as their customers may not feel as secure as the company may think they are. And it could cost the company its sales and goodwill.
So on a precursor, major companies can start to depart from the social networking site ultimately leasing to a larger market degrowth and then affecting Facebook itself.
For now, there are more than 20,000 tech majors doing brand promotions and selling good via Facebook and this data can largely impair their business and cause distress in the channel.
Conclusively, the survey has put LikedIn on the top spot in terms of brand goodwill and customer satisfaction.
Which means any third party company or channel involved with LinkedIn retain maximum customers and customers trust the brand most in terms of business transactions.
