Page 65 - Print 21 Magazine Sep-Oct 2021

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luck, it deepens their lack of trust in the online world.
As far as trust goes, digital media hasn’t had a great year. The latest Edelman Trust Barometer has shown a sharp drop in trust for online news sources, with social (35 per cent) andowned(41percent)the least trusted forms of media. Conversely, traditional media is among the most trusted, with 53 per cent trusting it for general news and information.
Looking at Australia in particular, the Barometer reveals that trust across all Australian institutions has actually reached an all-time high, resulting in significant gains for business (+11 points), government (+17 points), NGOs (+8 points) and media (+12 points). In fact, the only sector that hasn’t increased is technology, which fell by fi e points to 61 per cent. Meanwhile, social media barely registered on the Barometer with the lowest sector score of 40 per cent.
People trust print
What this means is that print has a golden opportunity to capitalise on consumers’ lack
of trust in online technology. People understand that print doesn’t ask them for personal information, doesn’t track
their reading history, and
won’t bombard them with targeted messaging days after putting the newspaper down. In addition, as print falls under much tighter legislation than online, the information is much more likely to be true.
In certain areas of the industry, print stands head
and shoulders above all other media. A recent survey by a group of Australian universities and trade organisations found that newspaper readers in rural and regional Australia are fi e times more likely to go directly to their local newspaper than Google or Facebook for local information. Country Press Australia also found that the majority of respondents (71 per cent) prefer to read their local paper in print than online,
with 86 per cent regarding a printed copy of their newspaper as an essential service for their community.
“The evidence is clear, news brands deliver incredibly strong business effects for brands,” stated marketing expert Peter Fieldinthehighlyinfl ential 2021 IPA Databank study. “They are able to do this because of their strong impacts on brand trust and quality perceptions – two brand effects that are now most strongly linked to profit growth.”
The privacy
of print
Whether you’re advertising or publishing, the authenticity
and credibility that print offers a brand can boost the ROI of any campaign, as well as offer
a reassuring sense of privacy and security for businesses
and consumers. As technology develops and the media adapts to a changing world, that privacy and security will become more and more important, and people more and more wary
of online information and advertising.
Eventually there will be tighter rules for the digital world and tighter sentences for the scammers that blight it. But it’s a vast beast that will take a long time to tame. Until then, print
is your best bet for earning your customers’ trust and boosting your bottom line. 21
Opposite page
Trust in print: Consumers are confident in print compared with online security
Beware the false
billing scam
Based on Scamwatch data alone, false billing scams were the most commonly reported scam by businesses and accounted for three quarters of total losses to businesses. Small and micro businesses accounted for almost 60 per cent of these false billing reports.
There are a range of false billing scams, but the most common type was payment redirection scams, also known as business email compromise (BEC) scams, with 1,300 reports and $14m in losses. This
is a substantial increase from the 900 reports and $5m in losses reported in 2019.
In a payment redirection scam, scammers impersonate a business or its employees via email and request an upcoming payment be redirected to a fraudulent account.
Scamwatch also observed a new type
of scam in 2020 that targeted farmers looking for a good deal on tractors and farm machinery. Scammers advertised equipment at prices well below market value, and told farmers that they couldn’t view the tractors prior to purchase due
to government restrictions from the pandemic. Farmers made payments to secure these special deals, when in reality the equipment never existed. Farmers were conned out of $1.1m in these
scams. This scam could be replicated in any industry. One thing we know about scammers is that they will take advantage of a crisis.
Businesses were also targeted by health and medical scams in 2020. About half
of the $3.9m in total losses reported
to health and medical scams were from businesses, as they attempted to procure personal protective equipment for
their staff to comply with government guidelines during the pandemic.
Other scam types that impacted businesses throughout the year included phishing, identity theft and hacking scams. It is so important for businesses to stay informed about scams so they can protect themselves.
The ACCC provides a range of resources for businesses on how to avoid scams, on the Scamwatch website.
Businesses that have been scammed should contact their bank as soon as possible. If the scam occurred on a platform such as Facebook, contact them directly to report it.
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