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Edelman Trust Barometer 2009 Irish Results by Piaras Kelly


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The Irish results from the Edelman Trust Barometer 2009.

Presentation by Piaras Kelly

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Edelman Trust Barometer 2009 Irish Results by Piaras Kelly

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