Monday, June 04, 2018

Trust for organisation holds key for success – Edelman Barometer

Trust and credibility survey among Nigerians in institutions, government, business, media and non-governmental organisations has revealed that 72 per cent of the populace ranked trust in an organisation as number one consideration above other factors when buying a product or relating with them, reports ITRealms

In the first-ever 2018 Edelman Trust Barometer Report unveiled in Lagos, Nigeria, weekend at Eko Hotel & Suites, Victoria Island, Lagos, Nigerians sampled in the survey said although a good reputation may get them to try a product, but unless they trust the company behind the product, they will soon stop buying it regardless of its reputation.

“Eighty-seven per cent of the respondents say companies that only think about themselves and their profits are bound to fail,” the report indicated, noting that respondents’ expectation is that businesses should be the driver of economic prosperity rather than mining profits to themselves only.

“Fifty-seven per cent agree that driving the economic prosperity of our country is one of the most important things businesses should do,” it affirmed.

The presentation of the 2018 Edelman Trust Barometer in Nigeria by Edelman was organised by Chain Reactions Nigeria, Edelman’s Exclusive Nigerian Affiliate and the Preferred West African Partner, with the theme: “The Battle for Truth.”

Speaking at the presentation of the global data from the report, Managing Director, Edelman South Africa, Jordan Rittenberry, expressed concern that the overall global assessment of the four mainstream institutions showed declines in trust about business and non-governmental organisations in 14 of the 28 countries sampled, and therefore called on key decision makers in the respective organisations to be deliberate in building their trust asset through increased investment.

Rittenberry said: “Over time trends have shown there is low trust in business and non-governmental organisations, so it is important that people in these institutions pay more attention to how the citizens trust them.”

Rittenberry added that “media is now least trusted institution” as a result of the menace of fake news which he noted has moved from being just a phenomenon to a key factor in shaping perception.

“People define media as both content and platforms, so nearly seven in 10 worry about false information or fake news being used as a weapon,” he declared.

The Managing Director/Chief Strategist, Chain Reactions Nigeria, Israel Jaiye Opayemi, in a welcome speech enthused that the inclusion of Nigeria in the annual survey for the first in the 18-year-old history of Edelman Trust Barometer was in fulfillment of the company’s promise last year to ensure Nigeria was in focus among the comity of nations of reckon annually sampled by Edelman. 

“Trust sits at the heart of social capital. For those who were here last year, we made a promise that Nigeria would be included in the 2018 deck of the Edelman Trust Barometer. I am happy to announce that we are here today to fulfill that promise,” he said.

Nenye Dom/GEE

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