Reviewing the Edelman Trust Barometer
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The annual Edelman Trust Barometer provides essential reading in the Public Relations module at the Limerick School of Art & Design.
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Reviewing the Edelman Trust Barometer
- 2. EDELMAN’S REACH • Edelman’s 15th annual survey. • 33,000 surveyed in 27 countries. • Asked about govt, media, biz and NGOs. 1/16/2015EDELMAN TRUST BAROMETER 2
- 3. TRUST Trust is a forward-facing metric of stakeholder expectation. 1/16/2015EDELMAN TRUST BAROMETER 3
- 4. TRUST DRIVES MARKET ACCEPTANCE More than half of the global informed public believe the pace of development and change in business today is too fast. 1/16/2015EDELMAN TRUST BAROMETER 4
- 5. TRUST VS GREED People think business innovation is driven by greed and money, not a desire to improve lives. 1/16/2015EDELMAN TRUST BAROMETER 5
- 6. TOWARDS TRUSTED INNOVATION Building trust is essential to successfully bringing new products and services to market. 1/16/2015EDELMAN TRUST BAROMETER 6
- 7. TOWARDS TRUSTED INNOVATION • Demonstrate societal benefits. • Behave with integrity. • Engage with stakeholders. 1/16/2015EDELMAN TRUST BAROMETER 7
- 8. TRUST IN INNOVATION 1/16/2015EDELMAN TRUST BAROMETER 8
- 9. WHAT DRIVES BUSINESS TRUST? 1/16/2015EDELMAN TRUST BAROMETER 9
- 10. TRUST IN INNOVATIONS VARY. 1/16/2015EDELMAN TRUST BAROMETER 10
- 11. TRUST VS ABILITY TO IMPLEMENT TRUST 1/16/2015EDELMAN TRUST BAROMETER 11
- 12. BUILDING TRUST IN INNOVATION 1/16/2015EDELMAN TRUST BAROMETER 12
- 13. THE POWER OF ENGAGEMENT 1/16/2015EDELMAN TRUST BAROMETER 13
- 14. THE FACTORS OF TRUST 1/16/2015EDELMAN TRUST BAROMETER 14
- 19. BUILDING TRUST 1/16/2015EDELMAN TRUST BAROMETER 19
- 20. FIVE PERFORMANCE CLUSTERS • Integrity • Engagement • Products & services • Purpose • Operations 1/16/2015EDELMAN TRUST BAROMETER 20
- 21. THE MOST IMPORTANT ELEMENT IN TRUST Integrity. Followed closely by engagement. 1/16/2015EDELMAN TRUST BAROMETER 21
- 22. SPECIFIC SUGGESTIONS Ethical business functions. Taking responsibility in crises. Transparent business processes. 1/16/2015EDELMAN TRUST BAROMETER 22
- 23. PRIORITY AREAS IN BUILDING TRUST 1/16/2015EDELMAN TRUST BAROMETER 23
- 24. ABOUT EDELMAN • World’s largest PR firm. • More than 5,000 employees. • In 65 cities with affiliates in 35 more. 1/16/2015EDELMAN TRUST BAROMETER 24
- 25. DISCUSSION ON @FIRPODCAST 792 1/16/2015EDELMAN TRUST BAROMETER 25
- 26. COMMENTARY IN THE FIR PODCAST COMMUNITY 1/16/2015EDELMAN TRUST BAROMETER 26
- 27. AUDIO ALSO IN SHARED AUDIO FOLDER 1/16/2015EDELMAN TRUST BAROMETER 27
- 28. 28 Discussed by #LSADMedia Creatives
Notes de l'éditeur
- Every year, Edelman PR releases the Trust Barometer. In 2015, 30 students from the Limerick School of Art & Design examined the report and commented about elements of it by using a thread on the For Immediate Release Podcast Community on Google Plus (http://bit.ly/fircommunity)
- The 2015 Edelman Trust Barometer is the firm’s 15th annual exploration of trust. Edelman surveyed 33,000 people (27,000 General Public and 6,000 Informed Public respondents) in 27 countries around the world on their trust in the institutions of government, media, business and NGOs.
- Trust is an asset that institutions must understand and properly build in order to be successful in today’s complex world. Edelman looked at trust around the world, trust across industries and how to build trust.
- Trust is also an important factor in driving market acceptance of new business innovations. The 2015 Edelman Trust Barometer finds that more than half of the global informed public believe that the pace of development and change in business today is too fast, that business innovation is driven by greed and money rather than a desire to improve people’s lives and that there is not enough government regulation of many industry sectors.
- Most people think greed drives innovation.
- Countries with higher trust levels overall also show a greater willingness to trust new business innovations. Building trust is essential to successfully bringing new products and services to market, and building trust in new business innovations.
- Companies must demonstrate clear personal and societal benefits, behave with integrity and engage with customers and stakeholders throughout the process. This year’s Trust Barometer offers key insights into the factors that increase and decrease trust, and defines a new formula for building trusted innovation.
- More than half of the respondents believe the pace of innovation is too fast.
- Technology is the leading driver of changes in business.
- People trust e-payments more than GM food.
- People often distrust cloud computing.
- Societal benefits are key in building trust
- Trusted innovation is lifted by the power of engagement.
- Trust is dependent upon discovery, benefit, integrity and engagement.
- “Discovery” relates to “agility” in business.
- “Benefit” should map onto personal and societal outputs.
- If you erode your integrity, you may not get a second chance to prove yourself.
- “Engagement” is a multiplier factor.
- Trust is built through specific attributes.
- Trust is built through specific attributes, which can be organized into five performance clusters: integrity, engagement, products and services, purpose and operations.
- TheTrust Barometer reveals that integrity is most important, followed closely by engagement. As in years past, areas such as excellence in operations or products and services, while important, are simply what is expected.
- The trust-building opportunity for business, therefore, lies squarely in the area of integrity and engagement. These areas encompass actions such as having ethical business functions, taking responsibility to address issues or crises, having transparent and open business practices, listening to customer needs and feedback, treating employees well, placing customers ahead of profit and communicating frequently on the state of the business — the very qualities also evidenced to build trust in innovation.
- Trust is built through specific attributes. Successful businesses must map and track these priority areas at the management level.
- Edelman is the world’s largest public relations firm, with more than 5,000 employees in 65 cities, as well as affiliates in more than 35 cities. Edelman owns specialty firms Edelman Berland (research), Edelman Deportivo (creative), Blue (advertising), BioScience Communications (medical communications) and agency Edelman Significa (Brazil).
- Listen to Shel Holtz and Neville Hobson discuss the Trust Barometer on FIR 792 http://forimmediaterelease.biz/index.php?/weblog/comments/the_hobson_holtz_report_podcast_792_january_26_2015 Comment on Rachel Miller’s FIR Podcast Community post.
- Comment on Rachel Miller’s FIR Podcast Community post: https://plus.google.com/+RachelMiller/posts/jFwwT8xhriK
- Extracts from both the FIR Podcast and from other luminaries appear in the shared OneDrive audio folder.
- Slide deck prepared by @topgold with major extracts from Edelman PR and the For Immediate Release Podcast.