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“ Every financial system depends on trust...We are in a full-blown crisis because investors and financial managers—the people who run banks, investment banks, hedge funds, insurance companies—have lost that trust.”
– Robert J. Samuelson, Newsweek
The State of Trust Richard S. Fuld Jr., former CEO, Lehman Brothers 1
Trust in Business, Media, and Government is half empty
The Trust Divide – Emerging vs. Established Economies Trust in business <50% Trust in business >50%
In U.S., trust in business at lowest level, including post-Enron Enron, the dot-com bust and September 11 77% of Americans trust business less today than they did a year ago US joins Europe 20 point drop
Spokesperson credibility remains mostly stable in Ireland Academics or experts most credible *asked as “an academic” in 2008 - 10 +20
Publics Need To Hear Information Regarding A Company Or Brand Multiple Times Through Multiple Channels & Voices 61% 3-5 times total
Through personal action, trust has tangible benefits Chose to buy their products/services Refused to buy their products/services Recommended them to a friend or colleague Criticized them to a friend or colleague Paid a premium for their products/services Bought shares Sold shares Shared positive company opinions/experiences online Shared negative company opinions/experiences online + - Actions taken with trusted and distrusted companies
Public Engagement: a strategy for changing operations and communication Shared Sacrifice Continuous Conversation Private Sector Diplomacy Mutual Social Responsibility
The 2009 Edelman Trust Barometer is the firm’s tenth trust and credibility survey.
The survey was produced by Edelman’s research firm StrategyOne. The survey was consisted of a 30-minute telephone survey conducted in November – December 2008. This year, the survey sampled for the first time two different age groups concurrently (25-34 and 35-64).
For more information on the Edelman Trust Barometer and to view past results, please visit www.edelman.com/trust.