For the first time in a decade, the general public are more likely to trust the advertising industry than the government and mainstream media.
Research from the Advertising Association (AA) has revealed that trust in the industry is on the rise, as – for the first time in ten years – advertising is no longer the UK’s least trusted industry.
It has overtaken the government and media in the poll, for the first time since 2014.
The new Value of Trust report from UK ad industry think tank, Credos, revealed that as many as 50% of young people trust the adverts they see or hear, compared to just 22% of the over-55s.
Television remains the most trusted media channel overall, with 41% of the public trusting TV ads, while the younger generations place a significant amount of trust in online advertising channels, and are almost four times as likely to trust online advertising as the over-55s.
The research also demonstrated that how much people enjoy advertising is the single biggest factor in whether they trust it or not. Equally, being bombarded by advertising is the single biggest driver of distrust.
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Led by effectiveness guru Peter Field, the research also shows that trust has leapt to second place (from seventh) in terms of driving both brand effectiveness and financial performance.
It revealed that brands who focused on sales and short-term marketing tactics during Covid-19 rather than building long-term brand trust saw profit margins drop and business effectiveness fall.
These negative effects lasted longer than the economic downturn.
AA CEO Stephen Woodford said the research: “shows that public trust is improving, especially among younger people – and we must keep building on this.
“Improving the public’s advertising experience, through more engaging creativity and well-planned media exposure, not only improves trust but drive better business outcomes too.”
The Value of Trust report also contains the results of YouGov/Credos polling among 107 MPs in January, which found that those who do not trust the ad industry are five times more likely to support greater government intervention to regulate advertising.
Overall, 39% of surveyed MPs trust the ad industry, while 33% do not.
“If people want to truly understand the value of trust in advertising to them, it is best described as results, regulation, and recruitment,” said Credos director Dan Wilks.
“Firstly, when it comes to results, trust in brands and trust in advertising media increases profits and overall effectiveness. Secondly, our research shows politicians and policymakers are more likely to impose regulation on an industry deemed untrustworthy.
“Finally, trust in our industry, its values, and ways of working, is key to attracting and retaining the best talent.”
The report follows on from previous research which revealed that people who saw or heard the recent ASA campaign were twice as likely to trust adverts and the wider industry.
