Trust in institutions such as the media, government, and business leaders continues to decline all over the world.
According to Edelman’s Trust Barometer, faith in the media is at an all-time low in 17 countries out of 28 surveyed. Trust in business leaders is also imperiled, dropping in every market surveyed.
Indeed, more than half (53%) of the global respondents felt the system was working against them, offering little help for the future. (Only 15% believed it was working for them; the remainder felt uncertain.)
“We see a growing and continuing disparity in trust levels between the mass population and the informed public, with the mass substantially less trusting than those with higher levels of income and education,” Kathy Beiser, global chair of Edelman’s corporate practice.
For marketers, the implications mean a continued need to work on consumer engagement, rather than top-down marketing. According to the research, consumers find a company’s social media channel more believable than its advertising.