Edelman Trust Barometer 2009 Irish Results by Piaras Kelly

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The Irish results from the Edelman Trust Barometer 2009. …

The Irish results from the Edelman Trust Barometer 2009.

Presentation by Piaras Kelly

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  • UK (n=50, ages 25-34; n=150, ages 35-64) EU (N=2000 ages 25-64: n=500 ages 25-34 and n=1500 ages 35-64

Transcript

  • 1. Ireland 2009 Edelman Trust Barometer
  • 2. 2009 Edelman Trust Barometer at a glance Tenth edition since 2001 4, 475 people in 20 countries on 5 continents
      • Ages 25 to 64
      • College-educated
      • In top 25% of household income per age group in each country
      • Report significant media consumption and engagement in business news and public policy
      • EU Countries: UK, France, Germany, Italy, Spain, Netherlands, Sweden, Ireland, Poland (N=1800 aged 25-64)
  • 3. What a difference a year-and-a-half makes January 19, 2009 May 14, 2007
  • 4.
    • “ 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
  • 5. Trust in Business, Media, and Government is half empty
  • 6. Business
  • 7. The Trust Divide – Emerging vs. Established Economies Trust in business <50% Trust in business >50%
  • 8. 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
  • 9. Companies less trusted now than year ago
    • Ireland has highest - 83% out of 20 countries trusting business less
  • 10. Companies headquartered in Sweden, Germany and Canada remain most trusted; companies in China and Russia trusted the least
  • 11. In Ireland, trust in most industries remained steady
  • 12. Government
  • 13. Government fares no better
  • 14. More in EU still trust business over government
    • Ireland remains with the majority trusting business more than government
    Business more trusted Government more trusted
  • 15. By 3:1 margin globally and 4:1 margin for Ireland, publics agree that government should impose stricter regulations and greater control over business across all industries
  • 16. Three Global Issues: Who Is Responsible for Causing and Solving? Global Warming Energy Costs Financial Credit Crisis
  • 17. Government and business share responsibility causing global issues
    • .
    Energy Costs Financial Credit Crisis Global Warming
  • 18. Government held most responsible for solving these issues
    • .
    Reducing Energy Cost Financial Credit Crisis Global Warming
  • 19. Business has lost the ability to lead unilaterally Must partner with others to solve global issues
  • 20.
    • &quot;I understand your disappointment, your anger. This situation is perfectly unacceptable.”
    • - Daniel Bouton
    • former CEO of Société Générale
    Who Can We Trust? Trust in Information Sources and Spokespeople Declines Across the Board 3
  • 21. Expertise and peer conversations drives credibility of information sources Traditional Corporate Digital 47% 40% 44% 38% 36% 34% 40% 27% 24% 26% 13% 35% 27% 16% 15% 19%
  • 22. Ireland trust in traditional information sources wanes
  • 23. Ireland trust in corporate information channels low Most trusted corporate information source is employees
  • 24. CEO credibility hits new low globally
  • 25. Spokesperson credibility remains mostly stable in Ireland Academics or experts most credible *asked as “an academic” in 2008 - 10 +20
  • 26. Publics Need To Hear Information Regarding A Company Or Brand Multiple Times Through Multiple Channels & Voices 61% 3-5 times total
  • 27. 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
  • 28. Public Engagement: a strategy for changing operations and communication Shared Sacrifice Continuous Conversation Private Sector Diplomacy Mutual Social Responsibility
  • 29. What We Have Learned ~ Ireland
    • Ireland has low trust in government (31%)
    • Ireland has more trust in business (41%) compared to government (31%)
    • Ireland has lower trust in the Healthcare Industry (41%) and Banks (23%)
    • Perceived credibility of all traditional media sources except analyst reports declined over the past year
    • Credibility of Academics (73%) and Financial or Industry Analysts (59%) as spokespeople high
    • 83% trust companies less now than they did a year ago, the highest among all countries
    • 76% agree that government should impose stricter regulations and greater control over business across all industries
    • Ireland places more responsibility on government (88%) than the rest of the EU for causing the Financial Credit Crisis
  • 30. A Ten Year Overview of Trust
    • 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.
  • 31. 2009 Edelman Trust Barometer