Reader’s Digest brand test

The Reader’s Digest’s most trusted European brands survey for 2010 is worth a glance. The full document can be accessed via http://www.rdtrustedbrands.com/

HSBC has, not surprisingly, replaced Lloyds as the UK’s most trusted bank brand, Direct Line appears to have established a lead following Norwich Union’s re-brand to Aviva and British Airways pole position has clearly benefited from the survey being conducted last October!

The trust in institutions and professions data is, I think, much more interesting than that for household brands. Consider the following selected highlights:

1. UK trust in politicians is at 5% (i.e. those agreeing a great deal or quite a lot that they trust them.) This is understandably extremely low, but not a million miles away from an alarming 8% European average.
2. Trade unions enjoy a very similar standing to UK banks – both are comfortably ahead of the government.
3. Environmentalists achieved a modest 45% – a reflection of cynicism on global warning predictions perhaps?
4. Poor old financial advisors are trusted by 42% placing them behind taxi drivers – you are more than twice as likely to trust your doctor.
5. Football players as a profession is firmly in the relegation zone, a point above car salesman. Politicians occupy Portsmouth’s premiership position.
6. Finally, in the UK you are twice as likely to trust your family than your boss, which is probably fair enough.

Having raised the profile of brand performance Reader’s Digest is currently creating its own case study in the value of brand trust. The business recently entered administration and with circulation down to less than a quarter of that achieved a decade ago survival is dependent on finding a new owner who sees potential from the Reader’s Digest name.

So in 2010 the Reader’s Digest brand faces a much more discriminating assessment of trust than any of the brands featured in their survey.