Denver PR Blog


Edelman ‘Trust Report’ Shows CEOs Nearing Used Car Salesmen
January 27, 2009, 8:25 am
Filed under: Edelman

Edelman is out today with its annual Trust Barometer, and the results aren’t pretty for businesses: Nearly two-thirds of informed publics (62%) trust corporations less than they did a year ago. Among the other results:

  • Trust in nearly every type of news outlet and spokesperson is down from last year. Trust in business magazines and stock or industry analyst reports — last year’s leaders — decreased from 57% to 44% and from 56% to 47%, respectively.
  • Globally, only 29% trust information about a company from a CEO — down from 36% last year.
  • Only 13% trust corporate or product advertising — down from last year’s low of 20%.
  • In the U.K, France, and Germany, trust in business was already at a low level of 36% among our tracking audience of 35-64-year-olds — and stayed there this year. The only EU countries where business made a notable gain in trust were the Netherlands and Sweden.

The full Edelman report can be found here.

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2 Comments so far
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The statistics here clearly show that we need to go back to the foundation. To dig deep and truly find out who are clients are and what they want to become and only communicate the true authenticity of who they are and their uniqueness. It is about relationship building for the long term and not the quick fixes and what best serves the company and their clients. Building trust within the company first and with their partners to communicate them out into the world is key. It is essential in today’s market to take the time and go back to the basics and revaluate their true identity and authenticity and how to separate them in the market place and stay true to that. One also has to build trust and recommend people and align with other firms that have your same belief system. It is also most important to use discernment and work with the clients you believe in.
Carolyn Wagner, Inc.

Comment by Carolyn Wagner

As PR professionals, we need to interrogate this 2009 Edelman Trust Barometer closely. Edelman: By a 3:1 margin, respondents say that government should intervene to regulate industry or nationalize companies to restore public trust.
PS [Me]: Regulation and nationalisation are profoundly different things. And both come in lots of forms. The question and answers are sort of meaningless.

So, we’re a bit short of people to trust just now. Good, one might say. A bit more scepticism (a bit less trust) might have kept us safer all along.

Fact is lots of firms have retained the trust they need. And you could go further: we do in some sense still trust banks, since they are still doing most of what most of us ever used them for.

If people are not buying cars or houses, a lack of trust has nothing to do with it. The problem is a shortage of money and credit. We can’t have it both ways. We don’t trust banks now because they were so profligate before. Being mean makes them hateful, but more trustworthy. More here:

http://paulseaman.eu/2009/01/would-you-trust-a-trust-survey/

Comment by Paul Seaman




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