The Trust Economy

Blood on the floor or name adored:
The role of trust in a crisis

Jane Jordan-Meier
Jane Jordan & Associates
Fairfield, California, USA

T14

Object 3

T14: Jane Jordan-Meier

Trust Tension

Trust
Trust


Object 4


Trust is the New Currency
“The next stage in the evolution of new
media is the trust economy. Whereas
conversations served as the currency of
social media, conviction, credence and
value serve as the market for trust
economics.”
Brian Solis, December 9, 2009

What is a Crisis?
• A show-stopping, people-stopping,
product- stopping, country-stopping event
• Media spotlight is firmly on you, your
brand, your response
– Significant business interruption
– Single moment in time

ALL crises have TRIGGERING events
•

The Good
The Bad
and
The Ugly
Good
Egg
SPLAT!


Roll Call


Characteristics of
Trust in a Crisis
•
• Fall in love with “We”
• Practice “Head and Heart”
• Act swiftly and with compassion


Rudy Giuliani:
Mayor of the World
“Tomorrow New York is going
to be here. . . we're going to
rebuild and . . . be stronger than
we were before . . . I want the
people of New York to be an
example to the rest of the country
Good and the rest of the world, that
terrorism can't stop us. . .”
Egg
New York City Mayor, in 2001

Michael McCain:
Deepest and Sincerest Good
Sympathies Egg

“. . . Our best efforts failed and we are deeply sorry.“

Maple Leaf Foods
President, in 2008


Object 5


Anna Bligh:
Crying for
http://www.youtube.com/watch?v=rq6-CBje2_M
Queensland
“We are Queenslanders . . . We’re
the people they breed tough of the
border. We’re the ones that they
Good knock down and we get up again.
It might be breaking our hearts,
Egg but it will not break our will.”
Ex-Premier, Queensland, Australia, in 2010


“ “We’re sorry for the massive disruption it’s
caused. There’s no one who wants this over

SPLAT!

Tony Hayward

Tony Hayward.htm


Rupert
SPLAT!
Murdoch

His empire in hot
water, the media mogul “insisted he
was not aware of – or responsible for – the
widespread hacking that took place at the
company’s . . . News of the World tabloid.”
Politico, July 19, 2011

“This is the most humble day of my life.”

Object 6


Egg on
the Face
“ . . . Obviously
it puts egg on
our face and we
deserve any
criticism we get, so feel free
to give it to us. We’ll probably agree
with you.”
Jaime Dimon
CEO, JPMorgan Chase

Fukushima!
• “Former Japanese Prime Minister
Naoto Kan’s. . . government kept
the meltdown secret from the
Japanese public.”
• “. . . crisis was compounded by
human folly . . . before and after
the tsunami hit.”
730 on YouTube
March 14, 2012
http://www.youtube.com/watch?v=5NTCcruJsPE

Kenneth Cole

SPLAT!


Why Some Leaders Shine
Good
Egg • Unconditional honesty from start
– “The number of casualties . . . will
be more than any of us can bear.”
• Excellent communication skills
– Perfect mix of shared grief and
consuming anger, à la Churchill


. . . And Others Shame
Obfuscation
– "The Gulf of Mexico is a very big
ocean . . . . The volume of oil . . .
we are putting into it is tiny in
relation to the total water volume.“
Blame game
– "This was not our accident . . . This
was not our drilling rig . . . This was
Transocean's rig, their systems, their
people, their equipment."

Essential
Good Characteristics
Egg
• Authenticity
• Compassion
• Courage
• Integrity
• Sensitivity


Object 7


•
•
So what does this all mean
for YOU?


From One of Our Own
“Companies that help their employees tell
their corporate story, in blogs and social
media, will be trusted more than those who
just use traditional corporate communications
resources such as press releases and corporate
news sites.”

Steve Seager
President, IABC Dutch Chapter
January 25, 2012


Six Things YOU Can Do

Know the end game

Be courageous


Build dollars in the
trust bank

Train and test your
spokesperson

Encourage training of front line le

Advocate one voice,
many people


Object 8


Yet More
Good
Egg • Practice Radical Transparency
• Honor International Trust Day
– 3 May every year
• Become very expert at what
you do and how you share
your expertise
•

Resources
http://www.awpagesociety.com/insights/executive-summary

http://www.awpagesociety.com/insights/trust-report/

http://www.caringeconomy.org/

http://entente.com.au/idotoverview.aspx

http://www.reputationinstitute.com/thought-leadership/global-re


Parting Thought

“Actions are the new words. We have a respon
•
•
•
•
•
Brad Shaw, Home Depot
Arthur W. Page Society: Building Belief


Jane Jordan-Meier
www.crisismanagementbook.com

@janejordanmeier (Twitter)
Thank You!
jane@janejordan.net
Do connect.
The Four Highly Effective Stages of Crisis Management:
How to Manage the Media in the Digital Age

Australia: + 614-14 645 507
USA: +1-707-386-9864

T14

The Trust Economy

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