The Trust Economy

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'"Blood on the Floor or Name adored", the Role of Trust in a Crisis was presented by Jane Jordan-Meier at the International Conference of the IABC in Chicago June 2012

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The Trust Economy

  1. 1. Blood on the floor or name adored:The role of trust in a crisis Jane Jordan-Meier Jane Jordan & Associates Fairfield, California, USAT14
  2. 2. T14: Jane Jordan-Meier
  3. 3. Object 3T14: Jane Jordan-Meier
  4. 4. Trust Tension Trust TrustT14: Jane Jordan-Meier
  5. 5. Object 4T14: Jane Jordan-Meier
  6. 6. T14: Jane Jordan-Meier
  7. 7. Trust is the New Currency “The next stage in the evolution of new media is the trust economy. Whereas conversations served as the currency of social media, conviction, credence and value serve as the market for trust economics.” Brian Solis, December 9, 2009T14: Jane Jordan-Meier
  8. 8. T14: Jane Jordan-Meier
  9. 9. What is a Crisis? • A show-stopping, people-stopping, product- stopping, country-stopping event • Media spotlight is firmly on you, your brand, your response – Significant business interruption – Single moment in time ALL crises have TRIGGERING events •T14: Jane Jordan-Meier
  10. 10. The Good The Bad and The Ugly Good Egg SPLAT!T14: Jane Jordan-Meier
  11. 11. Roll CallT14: Jane Jordan-Meier
  12. 12. Characteristics of Trust in a Crisis • • Fall in love with “We” • Practice “Head and Heart” • Act swiftly and with compassionT14: Jane Jordan-Meier
  13. 13. Rudy Giuliani: Mayor of the World “Tomorrow New York is going to be here. . . were going to rebuild and . . . be stronger than we were before . . . I want the people of New York to be an example to the rest of the country Good and the rest of the world, that terrorism cant stop us. . .” Egg New York City Mayor, in 2001T14: Jane Jordan-Meier
  14. 14. Michael McCain: Deepest and Sincerest Good Sympathies Egg“. . . Our best efforts failed and we are deeply sorry.“ Maple Leaf Foods President, in 2008T14: Jane Jordan-Meier
  15. 15. Object 5T14: Jane Jordan-Meier
  16. 16. Anna Bligh: Crying forhttp://www.youtube.com/watch?v=rq6-CBje2_M Queensland “We are Queenslanders . . . We’re the people they breed tough of the border. We’re the ones that they Good knock down and we get up again. It might be breaking our hearts, Egg but it will not break our will.” Ex-Premier, Queensland, Australia, in 2010 T14: Jane Jordan-Meier
  17. 17. “ “We’re sorry for the massive disruption it’s caused. There’s no one who wants this over SPLAT! Tony HaywardTony Hayward.htmT14: Jane Jordan-Meier
  18. 18. Rupert SPLAT! Murdoch His empire in hot water, the media mogul “insisted he was not aware of – or responsible for – the widespread hacking that took place at the company’s . . . News of the World tabloid.” Politico, July 19, 2011 “This is the most humble day of my life.”T14: Jane Jordan-Meier
  19. 19. Object 6T14: Jane Jordan-Meier
  20. 20. Egg on the Face “ . . . Obviously it puts egg on our face and we deserve any criticism we get, so feel free to give it to us. We’ll probably agree with you.” Jaime Dimon CEO, JPMorgan ChaseT14: Jane Jordan-Meier
  21. 21. Fukushima! • “Former Japanese Prime Minister Naoto Kan’s. . . government kept the meltdown secret from the Japanese public.” • “. . . crisis was compounded by human folly . . . before and after the tsunami hit.” 730 on YouTube March 14, 2012http://www.youtube.com/watch?v=5NTCcruJsPE T14: Jane Jordan-Meier
  22. 22. Kenneth Cole SPLAT!T14: Jane Jordan-Meier
  23. 23. Why Some Leaders Shine Good Egg • Unconditional honesty from start – “The number of casualties . . . will be more than any of us can bear.” • Excellent communication skills – Perfect mix of shared grief and consuming anger, à la ChurchillT14: Jane Jordan-Meier
  24. 24. . . . And Others Shame Obfuscation – "The Gulf of Mexico is a very big ocean . . . . The volume of oil . . . we are putting into it is tiny in relation to the total water volume.“ Blame game – "This was not our accident . . . This was not our drilling rig . . . This was Transoceans rig, their systems, theirT14: Jane Jordan-Meier people, their equipment."
  25. 25. Essential Good Characteristics Egg • Authenticity • Compassion • Courage • Integrity • SensitivityT14: Jane Jordan-Meier
  26. 26. Object 7T14: Jane Jordan-Meier
  27. 27. • • So what does this all mean for YOU?T14: Jane Jordan-Meier
  28. 28. From One of Our Own “Companies that help their employees tell their corporate story, in blogs and social media, will be trusted more than those who just use traditional corporate communications resources such as press releases and corporate news sites.” Steve Seager President, IABC Dutch Chapter January 25, 2012T14: Jane Jordan-Meier
  29. 29. Six Things YOU Can Do Know the end game Be courageousT14: Jane Jordan-Meier
  30. 30. Six Things YOU Can Do Build dollars in the trust bank Train and test your spokespersonT14: Jane Jordan-Meier
  31. 31. Six Things YOU Can Do Encourage training of front line leAdvocate one voice, many peopleT14: Jane Jordan-Meier
  32. 32. Object 8T14: Jane Jordan-Meier
  33. 33. Yet More Good Egg • Practice Radical Transparency • Honor International Trust Day – 3 May every year • Become very expert at what you do and how you share your expertise •T14: Jane Jordan-Meier
  34. 34. T14: Jane Jordan-Meier
  35. 35. Resources http://www.awpagesociety.com/insights/executive-summary http://www.awpagesociety.com/insights/trust-report/ http://www.caringeconomy.org/ http://entente.com.au/idotoverview.aspx http://www.reputationinstitute.com/thought-leadership/global-reT14: Jane Jordan-Meier
  36. 36. Parting Thought “Actions are the new words. We have a respon • • • • • Brad Shaw, Home Depot Arthur W. Page Society: Building BeliefT14: Jane Jordan-Meier
  37. 37. Jane Jordan-Meier www.crisismanagementbook.com @janejordanmeier (Twitter) Thank You! jane@janejordan.net Do connect. The Four Highly Effective Stages of Crisis Management: How to Manage the Media in the Digital Age Australia: + 614-14 645 507 USA: +1-707-386-9864T14

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