Results from the latest Roy Morgan Net Trust Score Survey show the iconic brands at the top of its list
ALDI is Australia’s most trusted brand - for the second survey in a row, according to the latest Roy Morgan Net Trust Score Survey, while Facebook is the most distrusted media brand.
The survey, conducted in July, revealed Australia’s top four brands with positive net trust scores were Aldi, Bunnings, Qantas, and the ABC. The rest of the top 10 (ranked) were NRMA, SamSung, Bendigo Bank, Myer, RACQ and IGA.
The first two benchmark surveys were conducted in October 2017 and January 2018, with a third conducted in February and a fourth in April. Comparing the most recent (July) survey with the previous (April) survey, Qantas improved one place from number four, and the ABC jumped three places from number seven.
ALDI, Bunnings, and Qantas have remained in the top five most trusted brands across all surveys since October 2017.
Bendigo Bank is the only bank brand to defy the fallout from the Financial Services Royal Commission, remaining in the top 10 brands with a positive Net Trust Score (NTS) across the five surveys to date.
Conversely, AMP has moved to feature prominently in the two most recent surveys of Australian brands with a negative NTS.
According to Roy Morgan CEO, Michele Levine, AMP provides a good insight into how distrust can have a material effect on brand value and sustainable growth.
“The banks were already deeply distrusted so any material impact on their market value is up and down. But AMP has never before been so distrusted,” she said.
“Seventeen years ago, AMP shares were worth more than $14. Today they’re worth less than $3.50. That’s a drop of 72 per cent.
“AMP’s skyrocketing level of distrust has cost the household brand billions of dollars. According to financial analysts, more than $4 billion has been wiped off the company’s value as a direct consequence of revelations during the Royal Commission.”
In addition, Bendigo Bank is ranked number one most Australia’s trusted bank in Australia, HCF is the number one most trusted Private Health Insurer, the ABC is the most trusted media brand, SBS the most trusted commercial media brand, while Facebook is now the most distrusted media brand.
According to Levine, Facebook is another example of how skyrocketing distrust has a material effect on brand value.
“After all the accusations of fake news, international political interference, and the Cambridge Analytica data privacy scandal, users, employees and advertisers jumped ship.
“Facebook’s distrust score catapulted it into the number one ranking on the top ten most distrusted media brands, and into the top ten most distrusted brands in Australia.
“Facebook’s earnings dropped and its share price plummeted, wiping $US145 billion off its market value,” she said.
The trust across Industry Sector survey reveals that the most trusted industry sector is retail, with the banking sector by far the most distrusted.
Roy Morgan asked more than 10,000 Australians to nominate brands they trust and brands they distrust, and why. Surveys are unprompted and open-ended. A Net Trust Score or NTS is calculated by subtracting a nominated brand’s distrust score from its trust score.
Top Ten Brands with a Negative NTS (alphabetical)
Media with a Positive Net Trust Score (ranked)
Media with a Negative Net Trust Score (alphabetical)
Follow CMO on Twitter: @CMOAustralia, take part in the CMO conversation on LinkedIn: CMO ANZ, join us on Facebook: https://www.facebook.com/CMOAustralia, or check us out on Google+: google.com/+CmoAu
In the third and final episode of our 3-part CMO50 video series exploring modern marketing and why it’s become a matter of trust, we’re delighted to be joined by Telstra’s former CMO and now digital services and sales executive, Jeremy Nicholas, and Adobe VP Marketing Asia-Pacific and Japan, Duncan Egan.
Flash back to the classic film, Willy Wonka and the Chocolate Factory. Television-obsessed Mike insists on becoming the first person to be ‘sent by Wonkavision’, dematerialising on one end, pixel by pixel, and materialising in another space. His cinematic dreams are realised thanks to rash decisions as he is shrunken down to fit the digital universe, followed by a trip to the taffy puller to return to normal size.
Why is it there is no shortage of leadership development materials, yet outstanding leadership is so rare? Despite having access to so many leadership principles, tools, systems and processes, why is it so hard to develop and improve as a leader?
As a nation united by sport, brands are beginning to learn money alone won’t talk without aligned values and action. If recent events with major leagues and their players have shown us anything, it’s the next generation of athletes are standing by what they believe in – and they won’t let their values be superseded by money.
