Posts Tagged ‘Media’

October 4, 2010 – Digit #19

The laws of supply and demand that regulate the value of tangibles are playing out in the increasingly fragile world of trust – and making it more precious than ever. Gallup reports that distrust in media is at an all-time high – if only by one percentage point at 57%. Only 43% say they have “a great deal/fair amount” of trust in media.

Lest any of us in marketing and business feel too smug about that, we should note that trust in business is even lower. According to Gallup, only 19% say they have “a great deal/quite a lot” of faith in big business. (Small business fares better at 66%.) Our own DYG SCAN® findings confirm ever-declining faith in business and business leaders. Trust in business leaders to do “what is right” has declined to only 23%.

And as trust becomes harder to come by, it becomes more treasured. In fact, 84% say “has integrity and deals honestly “is extremely important in deciding which companies to do business with, making it the number one factor with consumers (DYG SCAN® 2010).

Implications for Business: Increasingly elusive trust is on the minds of consumers – whether it’s about media, government, or your business and brand. It’s one asset worth building – and protecting. The current rarity of trust makes it all the more compelling as consumers spend consciously now.