Two Measures of Trust
It is the time of year when two different organization publish the results of their research on Trust:
- The Edelman Trust Barometer
- Reader’s Digest Trusted Brand Survey
And if you’re googling the topic you may see The Alignable Most Trusted Small Business Brands where only 3 of the top 20 are not digital products but do rely heavily on digital implementation.
An International Look
Edelman has been doing and annual survey since 2000. Each year they query thousands of people around the world regarding the level of trust they have in NGOs, Government, Business and Media.
The study this year, conducted primarily on line, encompassed 28 countries and included 33,000+ respondents.
The polarization of Trust noted in 2017 is not abating.
- 20 of 28 markets now distrust their institutions
- Institutional Trust dropped 37 points year to year in the USA
- In the US, government is considered the “most broken”
- Worldwide, nearly 7 in 10 worry about false information or fake news being used as a weapon
- Trust in media platforms continues to decline while trust in journalism has rebounded
Voices of Authority
One bright note is that people perceived to be authorities are regaining their credibility. “People like me” which for a time led the way have plummeted in the rankings. (my guess it that fake information and fake news is taking its toll and that reviews that are inaccurate are steadily undermining them).
Those with Trust Rankings over 50% in order now are: Technical Expert, Academic Expert, Financial Industry Analyst, Successful Entrepreneur.
The survey makes it clear that business is expected to lead the way back to trust. Borrowing a phrase from Ford, For CEOs Trust is job one. The key mandates for business are:
- Safeguard Privacy
- Drive Economic Prosperity
- Provide jobs and training
The brands we trust in the USA are surveyed by all sorts of organizations annually. There are reports on just about any category you can think of. I like the Reader’s Digest study because it is a pleasant walk through the average American household and you learn a little about where the product originated. Here is a bakers dozen from this year:
- Weber Grills
- Nestle Bottled Water
- Kellogg’ Cereals
- Silk (Milk alternatives)
- Tetley Tea
- Clif Nutrition Bars
- Purina pet food
- Scotts lawn care
Who do you trust?
Jerry Fletcher, Networking Ninja,
is a sought after International Speaker,
beBee ambassador, founder and Brand Poobah of www.BrandBrainTrust.com
His consulting practice, founded in 1990, is known for Trust-based Brand development, Positioning and Business Development on and off-line.