Building trust

One of the reasons I give for writing promotional articles and blog posts is build trust in the community and your (potential) clients. By sharing relevant information, people can trust your expertise and learn about your personality and integrity.

In the current global situation, building trust may be even more important.

The Edelman Trust Barometer for Australia is a survey of consumers and how they feel about various institutions. In February this year, they noted a huge 74% decline in trust for business – only 34% of respondents trust a business to do what is right in a specific situation.

What is critical to learn from this survey is the following:

• 87% of Australians will  not buy from a company they don’t trust
• 64% of Australians will pay extra to use a company they do trust
• Australians prefer Australian-owned companies to foreign owned companies as a general rule (obviously that changes in specific situations if the Australian company isn’t trusted)
• corporate advertising is trusted by only 6% of Australians – and corporate websites by only 13%

Some other interesting notes:

• people between 25 and 34 years are twice as likely to share experiences of a company than older respondents
• treating employees well is important – even more important than an environmental commitment – in building trust

As for the survey, it was based on “4,475 upper-income, highly-educated people in 20 countries, including 1,375 in Asia-Pacific countries.”