Well known US speaker and thought leader Scott Monty joins the podcast this week to talk the Edelman Trust Barometer and what this means for brands. We discuss:
- Scott’s career to date
- What is the Edelman Trust Barometer?
- Why trust is such an important concept for brands
- The exec summary for 2017 opened with “The 2017 Edelman Trust Barometer reveals that trust is in crisis around the world. The general population’s trust in all four key institutions — business, government, NGOs, and media — has declined broadly, a phenomenon not reported since Edelman began tracking trust among this segment in 2012.” – the factors driving such a marked decline in 2017
- The backdrop which led to results such as Brexit and Donald Trump coming to power
- Fake news and declining trust – cause and effect
- Whether the broad lack of trust is an opportunity for major publishers (such as NYT, WaPo, WSJ, FT) to again become the most trusted source of news and information
- The opportunity for “brands as publishers”
- Brands and trust
- Marketing BS in adverts – when does “mere puffery” become deceptive and misleading?
- The “Echo Chamber Effect” (64% of people are now more likely to believe leaked info than press releases) and how algorithms such as Facebook are driving this trend
- Whether there is anything distinct about millennials and what they want from brands which is driving this broader macro trend in terms of trust in business
- Where does CSR and ‘standing for something beyond making a profit’ fit into this equation?
- Does trust really matter for my toothpaste, toilet paper and baked beans brands?
- How social media is impacting the trust equation (in either direction)
- Current examples of brands ‘scoring well’ in the area of trust
- How can brands rebuild trust amongst consumers?
Very thoughtful insights from a leading thinker in this area – well worth a listen.