The report – marking the 15th consecutive year Edelman has been publishing this – contains the results from surveying 33,000 people in 27 countries in order to paint a picture of public trust in business, the media, government and NGOs in those 27 countries and averaging across the world.
The data Edelman gathered from conducting the survey during the final quarter of 2014 enabled them to glean insights and come to some credible conclusions on the general state of trust around the world.
Three headline metrics paint a pretty bleak picture:
- Trust in institutions drops to the level of the Great Recession (let’s start with the headline of the press release, referring to the global economic downturn that began in 2007/8).
- Trust in government, business, media and NGOs in the general population is below 50 percent in two-thirds of countries surveyed.
- Informed public respondents are nearly as distrustful, registering trust levels below 50 percent in half of the countries surveyed.
This picture is well presented in a chart that Edelman calls “The New Trust Deficit” showing that nearly 66 percent of countries are now distrusters among the general online population.
[…] We see an evaporation of trust across all institutions, as if no one has the answers to the unpredictable and unimaginable events of 2014. For the first time, two-thirds of the 27 nations we survey (general population data) fall into the “distruster” category. The horrific spread of Ebola in Western Africa, the disappearance of Malaysia Airlines 370 plus two subsequent major air disasters, the arrests of top Chinese government officials on corruption charges, the foreign exchange rate rigging by six of the world’s largest banks and the constant drumbeat of data breaches, most recently from Sony Pictures, have shaken confidence in all institutions.
In reviewing the 48-page report as well as the shorter summary, I was struck by these findings:
- The top three most credible spokespeople for an organization continue to be –
– Academic or industry expert
– Company of technical expert
– “A person like yourself”
- There are further declines in CEO credibility as a spokesperson to the extent that this report shows that CEOs are not credible as spokesperson in three-quarters of countries surveyed. That is staggering.
- The pace of development and change in business and industry is far too fast for 51 percent of survey respondents, with not enough time spent on development and testing of products before the rush to market.
- Drivers of change in business and industry are perceived to be about technology, business growth targets, greed and money, and personal ambition. Improving people’s lives and making the world a better place hardly get a look in, with both factoring below 30 percent.
- 51 percent of respondents said the most important role for government in business is to protect consumers and regulate business.
- Most countries trust local governments more than federal or central governments. Although the numbers for individual countries vary widely, the global average comes in at 50-50.
- Search engines are now the most trusted sources for general news and information – very bad news for the monolithic model of mainstream media – with a 72 percent trust rank.
- Search engines are now the first source survey respondents go to for general information, breaking news, and to confirm or validate news. Search engines are way out front as first sources for general information and to confirm/validate news, and equal with television as the first source for breaking news.
- Put number 7 another way – for the first time, online search engines are now a more trusted source for general news and information (64 percent) than traditional mainstream media (62 percent).
- 63 percent of respondents said they refuse to buy products and services from a company they do not trust, while 58 percent will criticize them to a friend or colleague. Conversely, 80 percent chose to buy products from companies they trusted, with 68 percent recommending those companies to a friend. Such stated behaviour should be of little surprise to anyone in advertising, marketing and PR, although the high percentages in each case might be.
There is much more to digest and consider in this excellent report, available on free download.
And what about the “rays of light” I mentioned in the headline of this post? To me, that’s about some of the ten points above that I see as opportunities for organizations – whether business, media, government or NGOs – who recognize the continuously-changing and -evolving landscape and look upon it as a place to be that builds connections, trust and understanding between people for mutual benefit. Opportunity is knocking.
Finally, Edelman has a short video that will take you on a tour of the 2015 Trust Barometer. Worth two minutes and forty seconds of your time.