Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Edelman Trust Barometer 2011 Ireland


Published on

Key findings of the 2011 Edelman Trust Barometer for Ireland

Published in: Business
  • Be the first to comment

Edelman Trust Barometer 2011 Ireland

  1. 1. 2011 Edelman Trust Barometer<br />January 27th 2011<br />Ireland findings<br />1<br />
  2. 2. <ul><li>Trust in Key Institutions
  3. 3. Government
  4. 4. Business
  5. 5. Media and sources of information
  6. 6. NGOs
  7. 7. Look at the benefits of Trust
  8. 8. Panel Discussion and Q&A </li></ul>2<br />Overview<br />
  9. 9. Edelman Trust Barometer at a glance<br />Eleventh annual study<br />5,075 people in 23 countries of which 200 in Ireland<br />Ages 25 to 64<br />College-educated<br />In top 25% of household income per age group in each country<br />Report significant media consumption and engagement in business news and public policy<br />EU Select Countries: UK, France, Germany, Italy, Spain, Netherlands, Sweden, Ireland, Poland (Each country N=200 aged 25-64)<br />3<br />
  10. 10. The Edelman Trust Barometer in retrospect<br />Rising Influence of NGOs<br />2001<br />Fall of the celebrity CEO<br />2002<br />Earned media more credible than advertising<br />2003<br />U.S. companies in Europe suffer trust discount<br />2004<br />Trust shifts from “authorities” to peers<br />2005<br />“A person like me” emerges as credible spokesperson<br />2006<br />Business more trusted than government and media<br />2007<br />Young influencers have more trust in business<br />2008<br />Business must partner with government to regain trust<br />2009<br />Trust is now an essential line of business<br />2010<br />4<br />
  11. 11. 2010 Another Challenging Year<br />
  12. 12. Globally, trust increases in all institutions<br />Trust in Institutions – Global<br />+4<br />+5<br />+4<br />+2<br />6<br />
  13. 13. Trust in institutions<br />Ireland has significantly lower trust in government than in other institutions<br />7<br />
  14. 14. 2009<br />2011<br />Trust Index: 2009 – 2011Ireland moves to last place in 2011<br />8<br />
  15. 15. Government<br />
  16. 16. Trust in Government (2010 – 2011)<br />Trusters<br />Distrusters (< 50%)<br />+11<br />- 6<br />Ireland least trusting of government among all EU countries<br />2011<br />2010<br />- 10<br />10<br />
  17. 17. And eight out of 10 believe government must step in to ensure business behaves responsibly<br />11<br />
  18. 18. Business<br />
  19. 19. +12<br />Trust in Business (2010 – 2011)<br />+12<br />2011<br />2010<br />Trusters<br />Distrusters (< 50%)<br />Neutral<br />+15<br />- 8<br />Ireland trust in business increased 15 points; now on par with levels in other EU countries<br />13<br />
  20. 20. Since financial crisis, trust in banks takes big hit in the West Reverse is true in China, India, Japan, Brazil<br />Trust in Banks<br />- 46 <br />- 30<br />- 20<br />- 21<br />- 10<br />+12<br />+21<br />+10<br />+12<br />14<br />
  21. 21. Trust in Sectors<br />Ireland less trusting than global peers of most sectors<br />Significant at 95% confidence level compared to global<br />15<br />
  22. 22. Perceptions of Ireland as a place to do business<br />Trust in Companies Headquartered in Ireland<br />+ 15<br />- 18<br />+ 12<br />+ 33<br />+ 16<br />- 10<br />- 12<br />- 14<br />- 13<br />- 23<br />- 11<br />N/A <br /> N/A<br />N/A<br />16<br />
  23. 23. Milton Friedman: “The social responsibility of business is to increase its profits”<br />% who agree<br />Majority agree<br />Less than half agree with Milton Friedman<br />17<br />
  24. 24. Reputation Factors<br />Trust, high quality products/services, transparency, employee treatment and communication most important reputation factors in Ireland<br />Significant at 95% confidence level compared to global <br />18<br />
  25. 25. MEDIA<br />
  26. 26. Trusters<br />Distrusters (< 50%)<br />Neutral<br />Trust in Media (2010 – 2011)<br />2011<br />2010<br />+11<br />- 11<br />- 9<br />+16<br />Ireland has low trust in media, but on par with most other EU countries<br />20<br />
  27. 27. Traditional sources and online search engines most trusted sources of information about a company<br />Trusted Information Sources – Trust a Great Deal<br />Traditional<br />Online Multiple sources<br />Social Media<br />Corporate<br />Significant at 95% confidence level compared to global<br />21<br />
  28. 28. People go to trusted sources first for information about a company – online search engines and traditional print and broadcast media<br />Where Informed Publics go for company news and information – Ireland<br />Are these the same types of sources you consult first for information about a business crisis?<br />First Source<br />Second Source<br />22<br />
  29. 29. Strong media brands rise to the top<br />Most relied on source for company information (unaided)<br />23<br />
  30. 30. NGO<br />
  31. 31. Trust in NGOsInformed Publics ages 35-64<br />Emerging markets’ trust in NGOs caught up to developed markets’ trust<br />25<br />
  32. 32. What does all this tell us? <br />26<br /><ul><li>Ireland really is in the grip of a trust crisis
  33. 33. Businesses must begin to engage purposefully in order to gain trust
  34. 34. Government has an even bigger challenge – it must rebuild trust in an entire system
  35. 35. People are sceptical about media but organisations have the chance to become their own media company
  36. 36. The damage has been more internal than external and despite everything, internationally we still have a good reputation </li></li></ul><li>Roadmap To Trust<br />
  37. 37. The Transformation of Trust<br />Old Trust Framework<br />New Trust Architecture<br />Control Information<br />Transparency<br />Engagement <br />Protect the Brand<br />Stand Alone<br />HOW<br />WHERE<br />WHAT<br />Focus Solely on Profit<br />Profit With Purpose<br />28<br />
  38. 38. Trust protects reputation<br />Ireland<br />When an organisation is distrusted<br />When anorganisation is trusted<br />55%<br />will believe<br />negative information<br />after hearing it 1-2 times<br />40%<br />will believe positive information after hearing it 1-2 times<br />21%<br />will believe positive information after hearing it 1-2 times<br />9%<br />will believe negative information after hearing it 1-2 times<br />29<br />
  39. 39. Informed publics need information from multiple sources, multiple voices<br />And need to hear it 3-5 times to believe it<br />Ireland<br />3-5 times<br />60%<br />30<br />
  40. 40. Through personal action, trust has tangible benefits<br />_<br />+<br />Actions Taken Over Past 12 Months – Ireland<br />Distrusted Companies<br />Trusted Companies<br />Chose to buy products/services<br />Refused to buy products/services<br />Criticized them to a friend/colleague<br />Recommended them to a friend/colleague<br />Paid more for products/services<br />Shared positive opinions online<br />Shared negative opinions online<br />Sold shares<br />Bought shares<br />31<br />
  41. 41. Trust needs to be earned from multiple sources<br />The people in your trust portfolio will vary by sector and situation <br /><ul><li>Your Experts</li></ul>Academics, Technical Experts, Analysts, Online experts<br /><ul><li>Your Media</li></ul>Online Search, Broadcast, Print, Radio, Social Media, Company websites<br /><ul><li>Your Community</li></ul>Person like myself, work colleagues, social networks, local community<br /><ul><li>Our Respected Leaders</li></ul>CEOs, NGOs, Government leaders<br />32<br />
  42. 42. Bridging the trust gap for organisations<br /><ul><li>What do I say?</li></ul>Positioning, Master narrative, Creative ideas, Thought Leadership<br /><ul><li>Who do I say it to?</li></ul>Stakeholder mapping, target media <br /><ul><li>How do I deliver it?</li></ul>Spokespeople, Corporate PR, Social Media, Events, Tools & Content<br /><ul><li>How do I show the value?</li></ul> Measure business results, media, message impact, reputation, Stakeholder advocacy<br />33<br />
  43. 43. Conclusions<br />Business must align profit and purpose for social benefit<br />Current media landscape plus increased <br />scepticism requires multiple voices and channels<br />Demand for authority and accountability set new expectations for corporate leadership<br />Trust is a protective agent and leads to tangible benefits; lack of trust is barrier to change<br />34<br />
  44. 44. 35<br />