As a member-value benefit of the IPA, we’d like to share important insights from a two-part research project on the novel coronavirus from our public relations partners at Edelman: Trust and the Coronavirus and Brand Trust and the Coronavirus Pandemic.
Both reports detail important, research-based and actionable information for our industry and beyond. You can view the full findings linked above, and below are key highlights of each.
Trust and the Coronavirus (Part I)
An online, 10-market survey conducted March 6-10 found that seven in 10 people around the world were following coronavirus news at least once daily, sometimes several times a day.
- 74 percent of these individuals worried there was a lot of misinformation being spread about the virus, while 45 percent agreed it was difficult to find reliable and trustworthy information.
- 63 percent of survey respondents indicated that their employers were the most readily believed source of information about the virus. 51 percent of U.S.-based respondents said they felt as though their employers were better prepared to respond to the pandemic compared to the country as a whole.
- 62 percent of global respondents said they trusted their employers to take responsible and appropriate action in response to the pandemic.
Brand Trust and the Coronavirus Pandemic (Part II)
As a follow up to the above research, a 12-market survey conducted March 23-26 found that brands and companies play a critical role in winning the fight against the virus. Overall, individuals want brands and companies to:
- Show up and do your part – Brands have a vital role to play. Now is not the time to disappear, but to show up and use all your resources and creativity to make a difference.
- Don’t act alone – There is strength in collaboration. To truly help people during this crisis requires a joining of forces with others, most critically government.
- Solve, don’t sell – Brands should focus all efforts on finding appropriate and meaningful solutions to the problems people are facing today.
- Communicate with emotion, compassion and facts – People are reassured by positive brand actions and commitments. Communicate with empathy to help both inform and calm.
The findings of the second report are resoundingly clear. This is a moment in time for brands and companies to step up into their purpose and to join the fight. To help solve the problems we are all facing; to protect employees and partners; to get creative in how their products and services can help; engage in cross-industry collaboration in partnership with government; and communicate with compassion as much as with facts. Because the world needs it, consumers expect it and the actions taken today will impact the trust brands hold in the future.
The IPA remains committed to supporting our community and industry in this time of unprecedented uncertainty. Please do not hesitate to reach out to myself or the IPA staff if you have any questions or concerns, and we will continue to provide and communicate quickly regular updates on the evolving situation as information becomes available.
President and CEO
Institute for Portfolio Alternatives