Tag Archives: consumer trust

Truth, Trust, & the Power of Storytelling

One of the prevailing themes of 2017 so far has been the erosion of public trust in our key institutions. The Edelman Trust Barometer, an annual global study conducted by a respected communications marketing firm, confirms what many of us have felt: “trust is in crisis around the world.” For the first time since 2012, the public’s trust in government, business, media, and NGOs has declined significantly.

While there is a complex web of cause and effect that has culminated in a large-scale erosion of trust in these institutions, the end result is clear – a populace that is increasingly divided and suspicious of news, marketing, and media messaging. In the era of “fake news,” PR and marketing professionals must examine their methods and recalibrate their strategy in order to reach the general public in an authentic and credible way. But how?
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Crisis in Consumer Trust: How Can Brands Rebuild Trust?

I recently wrote about the 2017 Edelman Trust Barometer, which revealed that trust is in crisis around the world. “The majority of respondents now lack full belief that the overall system is working for them,” the study found in regards to public trust in four key institutions – business, government, NGOs, and media. Edelman president and CEO Richard Edelman traces the roots of the current trust deficit to the 2008 recession, asserting that the combination of technological innovation and globalization has left many consumers feeling left behind.

In this age of social media dialogue and empowered consumer voices, unique challenges and opportunities are emerging for brands that wish to build trust in their products, leadership, and impact. How can we rebuild consumer trust at a time when the world feels increasingly polarized and consumers, who are eager and able to share their opinions, nonetheless feel that major institutions no longer have their best interests at heart?
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Crisis in Consumer Trust: The 2017 Edelman Trust Barometer

Early each year, leading global communications and marketing firm Edelman releases the results of their Trust Barometer survey. The Edelman Trust Barometer is the culmination of a global study of consumer trust in four key institutions – business, government, NGOs, and media. The newest iteration, conducted in 28 countries and encompassing more than 33,000 respondents, places a finger on the pulse of consumers across the world.

Would you be surprised to hear that in 2017 Edelman finds that “trust is in crisis around the world”? For the first time since they began tracking these metrics, “the majority of respondents now lack full belief that the overall system is working for them.” What might be at the root of this global decline in trust in our key institutions? How can we begin to rebuild consumer trust in an authentic and sustainable manner?
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