The Credibility Recession
We're spending a lot of time talking about inflation, labor shortages, economic uncertainty, and market volatility. But I think another recession is happening all around us.
A credibility recession.
Trust in the media has fallen to just 28%, the lowest level Gallup has ever recorded. According to Edelman, 61% of people believe institutions increasingly serve their own interests rather than the public good. Seven in ten people believe business leaders, government officials, and journalists intentionally mislead the public.
Whether you agree with those sentiments or not, they reveal something important:
People are becoming more skeptical, cautious and reluctant to take organizations at their word.
And that skepticism is showing up everywhere:
Consumers question brands.
Employees question leadership.
Residents question institutions.
Voters question the government.
Investors question forecasts.
Everyone is asking the same question: Can I believe you?
What's fascinating is that most organizations don't seem to realize this shift has occurred. Many continue to operate as if awareness is the challenge. As if simply being seen is enough.
But in a world where information is unlimited, visibility has become cheap.
Belief has become valuable.
The organizations that thrive in the coming decade won't simply be the ones with the biggest audiences, the loudest voices, or the largest advertising budgets. They will be the ones that earn trust. Because credibility is becoming one of the scarcest resources in our economy. And like any scarce resource, its value is only increasing.
That's why NEWaukee developed the Brand Trust Quotient (BTQ): a way to help organizations understand, measure, and strengthen trust before declining credibility begins to show up in customer retention, employee engagement, recruitment, fundraising, community support, or revenue.
Because in the next decade, the organizations that win won't simply be the most visible. They'll be the most believed.