AUSTRALIAN SCORE = 48%
Every year since 2001 Edelman produce their Trust Barometer report, and the latest report just landed this week.
From an Australian perspective, these are some of the highlights (or lowlights):
The average percent trust in NGOs, business, government and media declined from 53% to 48%.
Breaking it down bit further, trust:
- in business declined from 58% to 54%.
- in NGOs declined from 58% to 53%.
- in government declined from 52% to 45%.
- in media declined from 43% to 38%.
Trust in Australian organisations and institutions is on the decline, and one of the key ways to turn this around is through great branding. Trust is still the greatest currency there is, and it needs to be earned by walking your talk and keeping your promises.
Interestingly, the most trusted multinational organisation in the world is the WHO (at 67%). The way they helped the world navigate through Covid did seem impressive (on the whole) – even to me – and it’s reassuring to know that they stand tall as a reputable organisation who walks their own talk.
From a branding perspective, these are some of the key findings:
- 63% of people buy brands based on their beliefs and values.
- 69% of employees have a strong expectation that organisations are having a societal impact (when considering a job).
- 68% of people say brands celebrating what brings us together and emphasising our common interest would strengthen the social fabric.
I have always asserted that great brands must play a positive role in society and in people’s lives. Clearly this is now a growing expectation among consumers and employees, and it all starts with having a clearly articulated Brand Purpose that’s drives everything brand owners do and say.
To quote (again) from Steve Jobs: “A brand is simply trust”. Amen to that.