Open The Dialogue

Happy Friday everyone!  There are only 15 days until Halloween or more importantly only 68 shopping days until Christmas.  Until then, enjoy these links of the day.

• The Internet Advertising Bureau has come out against the recent FTC guidelines. The IAB argues that new rules unfairly regulate the online media more than offline.

• In other FTC guideline news, one service called CMP.ly is attempting to establish a standard format for all disclosures by using their 6 different disclosure links.  For more on CMP.ly make sure to check out PRNewser’s recent interview with the co-founder, Tom Chernaik.
• The Official Google blog shares tips on Managing Your Reputation through Search Results. The first idea? Make sure you want your personal info online.
• Finally, as the fervor around the Balloon Boy continues to swell as the “it” viral discussion of the moment, make sure to take the time to check out such gem’s as the T-shirt, the Fresh Prince Rap and of course this stunning re-enactment (See below).

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I attended a Corporate Communication International (CCI) Symposium on reputation last Friday at Pfizer.  The title of the event was “Trust Me? Rebuilding Business Credibility” but the picture painted by the speakers was quite bleak.  “Trust has evaporated” said James E. Murphy, Chairman & CEO of Murphy & Co. and PR Coalition, Chair, and has been exasperated by the sinking economy due to fraud and lack of transparency.  Matthew J. Harrington, U.S. CEO & President of Edelman, presented data that showed that the decline in trust in US corporations mirrored the decline of the US stock market.  The trend was across all economic sectors and all media outlets, including social media channels.  The only organizations to suffer the least were non-governmental organizations (NGO).

The figure below, pulled from the Edelman Trust Barometer of 2009, shows a decline in trust in various social media channels.  The relevant ones are highlighted below and chart a dramatic decline in trust over the previous year.

Trust in Corporations Through Different Channels

This should not be surprising especially when companies like Belkin are accused of trying to game the system for the company’s benefit.  Some of the key suggestions in weathering this depression in trust and reputation include:

• Adhering to strict ethics both internally and externally.
• Transparency – being open and honest in dealings.
• Engaging with both government and NGO’s.
• Mutual social responsibility – integrating social causes that both benefit the communities and the corporation.
• Shared sacrifices – making sure that all levels in the corporation share in the profits and losses.
• Continuous conversation – engaging in dialogue with all stakeholders through all channels including social media. (Johnson & Johnson and Cisco websites were cited as examples.)

Despite these sobering numbers, the emphasis on social media as an effective tool to rehabilitate the trust between an organization and its publics was significant.  For more insight on the subject, I would definitely recommend Matt Rose’s blog on corporate reputation here.