This year’s Trust Barometer could not come at a better (or worse I guess) time. The headlines to me:
* The US is the new France (traditionally our least trusting nation when it comes to business) as Trust in America in business has plummeted by 20%, a drop unprecedented in the nine years of the survey
* Trust in busiiness in traditionally more cynical Europe is about the same as last year, but trust in most sources of information and spokespeople has declined
* Trust (or loss of trust) can hurt your company: Seventy-seven percent (77%) said they refused to buy products or services from a company they distrusted—the first time the survey explored people’s direct actions toward trusted and distrusted companies. Seventy-two percent (72%) criticized a distrusted company to a friend or colleague
* By a 3:1 margin, respondents say that government should intervene to regulate industry or nationalize companies to restore public trust. In the major Western European economies of the U.K, France, and Germany, three-quarters say that government should step in to prevent future financial crises (73%, 75%, and 74%, respectively); in the United States, not even half (49%) saythat the free market should be allowed to function independently. Globally, the call for government intervention also extends to issues like energy costs, global warming, and access to affordable healthcare, as respondents, by at least a 2:1 margin, say government has the primary responsibility for solving these issues. But business must collaborate: Two-thirds (66%) expect
business to partner with governments and advocacy groups to solve these issues.
The full version of the Barometer is here. Feel free to use stats but please quoue the Edelman Trust Barometer 2009 as your source.
Off to Davos now to present this with the boss. Will be blogging aand Twittering from the top of the hill.