Here are the highlights from Edelman's Seventh Annual Trust Barometer - 2006:
- We find people similar to ourselves to be most credible spokepersons about a company, largely because we engage in this kind of Internet activity (namely blogging, etc.);
- Social networking is becoming an increasing more credible way to communicate than traditional, broadcast media;
- NGOs are becoming the most trusted institutions;
- 70-80% of opinion leaders surveyed said they are unlikely to purchase products or services from a company they no longer trust, and 33% of them will voice their displeasure via the Internet;
- The influence of the Internet has surpassed expectations by making information more trustworthy, because people feel they can choose their sources;
- "Trust is more than a bonus;it is a tangible asset that must be created,
sustained,and built upon."; - "'Sophisticated organizations now recognize and treat reputation and the manner in which they communicate as areas that need to be managed from a risk perspective,” says Harrington. 'In fact, trust is at the center of comprehensive risk management.';
- The most effective way for a company to build trust and credibility is the quality of its engagement with stakeholders;
- There is a significant trust discount in Europe for many U.S. brands;
- Technology companies are most trusted;
- "Entertainment and media (together) and energy are generally
the least trusted industries."; - In the United States "trust is built through a dialogue with multiple stakeholders";
- "Companies headquartered in Canada receive the highest level of trust of any foreign companies operating in the US."
Did you just experience an "aha" moment? What surprised you most?
I have been following the Edelman Trust Barometer for several years now, so most of it was old hat. However what is radically new for me is that "trust" now belongs to "risk management"! For my views on this subject see my article "A Tale of Two CEOs".
What do you think? Can the risk management community adequately address trust issues?

