Further to a previous post TRUST: The Elusive Commodity Worth its Weight in Gold (and then some) -- here is some more damning evidence that companies are fast losing the respect of the people who matter most to their business - consumers.
CEOs are the least trusted source of information when forming an opinion of a company. Eighty-one per cent of respondents do not trust the CEO as a source in Australia, the US and Europe. PR WARRIOR: This is a damning statistic and given we live in a hyper-connected world where openness, transparency, accountability and corporate social responsibility are expected of CEOs and corporations, you would think - hope - that Australia's business leaders see the light and start ditching the over-rehearsed, jargon-laden corporate speak and start communicating in a more 'humanistic' way with the public, indeed all stakeholders. As Barack Obama's 'digital kingmaker' Ben Self urged Australian leaders recently - it's time to drop the corporate speak and start dealing with your supporters, customers and partners like human beings.
Independence drives trust: 70% of respondents trust academic or expert opinions – this number rises to 82% among respondents aged 25-34. PR WARRIOR: No surprises here - it's a main reason public relations experts either hire, or attempt to influence, key opinion leaders within industry, academia and the community so they in turn can spread the word and reinforce credibility.
HERE'S THE KICKER ROCK STARS:
Eighty-seven per cent of Australians would refuse to buy from a company they do not trust, and 93% said they chose to buy product or services from companies they trust. PR WARRIOR: If corporate Australia continues to waste money blasting one-way messages at people (advertising) at the expense of rebuilding their declining reputations, not only will their advertising become increasingly less effective but consumers will continue to drift away, preferring to give their business to companies they perceive to be more open in their communications, more transparent in their dealings and more community-minded in their actions - indeed, more 'trustworthy'.
