Jerry Fletcher

1 year ago · 2 min. reading time · ~10 ·

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Consultant Marketing Trust Barometer

Consultant Marketing Trust Barometer

Consultant
Marketing

Trust
Barometer

J.L.LFLETCHER

Vas Different Slant
I’ll be keynoting on Trust in April.

Every time I’m asked to present on Trust I look for new information I might bring to the audience.

Online Resources

I always start with a review of the usual suspects. That means typing “Trust Research” into Google. This time it got me this selection of the most recently published items:

1. An article from the Harvard Business Review on The Neuroscience of Trust (from 2017)

2. The Journal of Trust Research (Volume 10, Published in 2020)

3. The Psychology of Trust (A book published in 2018)

4. Trust and Power (A book published in 2018)

5. Individual Trust and the Internet (scholarly article published in 2018)

Notice the dates. Only one is as recent as 2020. That is the first problem. The second is wading through the linguistic torture of scholarly articles where communication is sacrificed on an altar of accuracy resulting in impenetrable obfuscation.

Trusted Resources

Thank the gods of business for the Edelman Trust Barometer. Each year since 2000, this worldwide Public Relations Agency with offices in major cities around the world publishes an annual survey of trust and credibility of the world’s four major institutions – Government, Business, Media and NGOs. It is one of the longest running studies on Trust.

What makes it more important is the ongoing comparison of results it affords the viewer and the efforts of the company to find and report on those points where the findings begin to diverge from previous norms.

Diverging Trust

In the 2004 study 23% of the people interviewed said they would trust someone just like them. By 2016 that percentage had increased to 82%. People trusted folks like themselves more than Businesses, institutions, Governments, and NGOs. People like me got higher ratings than any other occupations with the exception of folks with very high Academic degrees and some attorneys. It seems they didn’t like lawyers but did respect them.

Trust Today

So where are we today? What did Edelman turn up in their most recent survey?

  • Income inequality is the most significant factor in developed countries like the USA
  • 56% of the population worldwide believe that Capitalism does more harm than good in today’s world
  • 83% of employees fear losing their jobs
  • Government and media are perceived to be incompetent and unethical
  • Business is seen as the only competent institution

Business stakeholders now expect more from companies.

“A stunning 92 percent of employees surveyed in the 2020 Edelman Trust Barometer say that they expect their employer’s CEO to speak up on one or more issues ranging from income inequality to diversity and training for jobs of the future. Seventy-three percent of employees expect a prospective employer to offer the opportunity to shape the future of society in a positive way.”

Richard Edelman

The Edelman 2019 “In Brands We Trust?” study reported that nearly two-thirds of consumers buy based on their beliefs, and 81 percent agree that “a brand I can trust” is one of their top reasons for purchase.

Trust Boiled Down

Customers and employees are now over five times more important to a company’s long-term success than shareholders.

Business is considered to be the best at getting things done. But is faulted on ethics. Research conducted in 2020 indicated that ethical attributes drive 76 percent of the trust capital of organizations, while competence drives 24 percent.

Trust in the light

CEOs, Presidents and Owners of companies have a chance to step up Here’s what is needed:

  • Take the lead in partnering with government and other institutions
  • Pay decent wages and retrain those replaced by technology
  • Speak up for what is right starting now

In my view, the stepping stones from start up to skyrocket now include a need to be outspoken in word and deed. Speak the truth even when it is uncomfortable. Act as if you were not campaigning for the next rung on the ladder. Solve the Trust paradox. Your employees and customers are counting on you.

And so it goes.

€

   

Jerry Fletcher
Consultant
Marketing

1

  

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Jerry Fletcher is a sought-after International Speaker, a beBee ambassador, founder and CEO of Z-axis Marketing, Inc. See Jerry’s new speaker demo reel.

His consulting practice, founded in 1990, is known for on and off-line Trust-based Consultant Marketing advice that builds businesses, brands and lives of joy.

Consulting: https://www.JerryFletcher.com
Speaking:
https://www.NetworkingNinja.com


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Comments

Jerry Fletcher

1 year ago #11

Ken, I certainly hope the folks from Edelman don't read this string. I just don;t think they would trust a discussion about briefs that was anything but!

Jerry Fletcher

1 year ago #10

#9
John, You are so right. Ask a lawyer a yes/no question but only after you've refreshed your drink!

Jerry Fletcher

1 year ago #9

#8
Know what you mean Ken, I've had a number of t hem, both practicing and recovering, as clients. they do see the seamier side of humanity!

Ken Boddie

1 year ago #8

#9
But I don't have any lawyer 'friends', @John Rylance, only 'acquaintances'. Despite that, I never sign an agreement or contract without legal advice. Go figure 🤣 As for briefs, that gets us back to underwear and trust ... and passwords. Always treat your passwords like you treat your briefs/boxers/knickers/whatever. Change them regularly and don't share them with anyone. 😂 What say you, @Jerry Fletcher?

Ken Boddie

1 year ago #7

#9
But I don't have any lawyer 'friends', John Rylance, only 'acquaintances'. Despite that, I never sign an agreement or contract without legal advice. Go figure 🤣 As for briefs, that gets us back to underwear and trust ... and passwords. Always treat your password like you treat your briefs/boxers/knickers/whatever. Change them regularly and don't share them with anyone. 😂 What say you, Jerry Fletcher?

John Rylance

1 year ago #6

#8
I imagine whats stopping you telling the lawyer jokes/true stories, is the fact your lawyer friends have got you to sign a non- disclosure agreement. Trust has to be earnt, and one has pay a lot of money in order to put your trust in estate agents, car salesmen, lawyers and their ilk. Do I trust any of them? The answer is the phrase lawyers often start a reply to a question with "It depends" Lawyers are the the only proffession who write a 10,000 word piece and call it a brief.

Ken Boddie

1 year ago #5

Hey, Jerry, it'd be interesting to see where real estate agents and used car salespeople come on the 'trustometer' ... and spell casters. 😂 So folks don't trust lawyers you say. Who'd have figured that? 🤣 But seriously, some of my best 'acquaintances' are lawyers. Wish I could tell you some good lawyer jokes, but I can't. They're all true stories. 🤗

Ken Boddie

1 year ago #4

Hey, Jerry, it'd be interesting to see where real estate agents and used car salespeople come on the 'trustometer'. So folks don't trust lawyers you say. Who'd have figured that? 🤣 But seriously, some of my best 'acquaintances' are lawyers. Wish I could tell you some good lawyer jokes, but I can't. They're all true stories.

Jerry Fletcher

1 year ago #3

Ken, I seem ot have misplaced mine along with the barge!

Jerry Fletcher

1 year ago #2

#3
Remove your blatant plea for business you cur.

Ken Boddie

1 year ago #1

Tell me this, Jerry. Why do so many people refuse to lend out their ten foot barge pole?🙁

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