The question of trust is weighing heavily on people around the world right now.
In Australia, public authorities assured us there was no need for panic-buying in response to the spread of coronavirus, but consumers still panicked. Why? Distrust.
Roy Morgan research shows that distrust is one of the most significant, yet least recognised risks to Australian business and society in general.
The newly released March 2020 edition of the Roy Morgan Risk Report, shows that topping the brands with a Net Distrust Score — where distrust outweighs trust, and in these cases far outweighs it — are Facebook, Telstra and AMP. Mining and Petroleum is the most distrusted industry sector.
On the flipside, topping the list of brands with a Net Trust Score — meaning the trust felt toward them outweighs the distrust — are Bunnings, ALDI and Woolworths. Retail is the most trusted industry sector.
Roy Morgan CEO Michele Levine said: “Our work uncovered the scale of distrust – this previously invisible force. It’s not uncertainty or even an absence of trust. It is something separate and more powerful, an active sense that we were foolish to trust too much, and it cannot be ignored. For brands and businesses, it leads directly to customer churn, loss of market share, and a plummeting share price — in the case of AMP a 70 percent share-price drop and $2 billion of lost value.”
Other noteworthy results include:
• Only two car manufacturers are distrusted overall: Volkswagen and Holden, a response to the former’s emissions scandal and the latter’s closing of Australian facilities and retreat from the Australian market.
• Centrelink is deeply distrusted, with Federal and State Governments also distrusted overall.
• All of the Big-4 banks are distrusted, with NAB in the unwelcome position of the bank with the highest net distrust. However, Bendigo & Adelaide Bank has the highest trust among 22 banks, credit unions and building societies ranked in the trusted and distrusted brand lists.
Top 10 Brands
Are Media and B&T couldn’t be more thrilled to congratulate the winners of this year’s Women in Media Awards. It was the virtual celebration to end all virtual celebrations as hundreds of media professionals tuned in to watch 17 incredible industry leaders recognised for their phenomenal achievements in media over the last 12 months. It’s […]
Independent programmatic platform Viztrade has launched a self-serve solution for publishers to generate digital advertising revenue directly from their own websites. Viztrade Connect is to be launched through the Viztrade platform and enables advertisers to purchase advertising from publisher websites with no friction and full visibility into the cost of the media. The solution is […]
BIG Outdoor has announced the launch of programmatic capabilities powered by Vistar Media. BIG Outdoor is leveraging Vistar’s supply-side platform (SSP) to make their inventory available for purchase programmatically via open exchange or private marketplace deals. “Our mission is to stay at the forefront of improving the value proposition of digital billboard advertising,” said Richard […]
The NSW Government and the Department of Education have today launched a major campaign titled ‘Maths Trains Brains’ which is aimed at changing the perception of maths and encouraging more engagement towards the subject for students from pre-kindy to Year 10. The campaign was developed by creative and digital agency Bastion Banjo with production by […]
In this guest post, Dr Phillip Lawrence of Edith Cowan University debunks the myths of the environmental impact of printing… The environmental credentials of printing have been in the spotlight for a while with brands and marketers as well as large corporates regularly proposing they would reduce or eliminate paper and printing from their business as […]
The WPP-owned agency Mindshare has revealed it has won the media business for both Kayo and Binge. Both Kayo and Binge form part of Foxtel’s Steamotion’s streaming services and have seen significant boosts to the subscription numbers in recent times, primarily during lockdown. Commenting on the win, Mindshare CEO Katie Rigg-Smith said the win would […]