Rankings & Reality: The Importance of Brand Reputation
Perception is reality, especially when it comes to your company’s image. Do you know how you look to outsiders? Red Banyan’s reputation rehabilitation experts know how important an organization’s image can be! Do you know what people are saying about your brand online? Do you pay attention to public comments and product reviews?
A business will likely struggle if the target market finds it untrustworthy or simply doesn’t identify with the brand. On the other hand, establishing core virtues and creating a unique persona attracts consumers in any industry. Connecting with your target audience and changing with the times is the key to long-term success.
Brand reputation can make or break a business, as evidenced by a recent study.
The Axios Harris Poll 100 recently released its 2021 annual ranking of the most and least reputable companies in the United States. The Axios Harris Poll 100 is based on a survey of 42,935 Americans in a nationally representative sample.
“These 100 ‘most visible companies’ are then rated by a second group of Americans across the seven key dimensions of reputation to determine the ranking. If a company is not on the list, it did not reach a critical level of visibility to be measured,” according to Axios.
The nation’s 100 most visible businesses were ranked on social responsibility, emotional appeal, financial performance, products and services, vision and leadership, and workplace environment.
The top ten include:
- Honda Motor Company
- Tesla Motors
The bottom of the list was rounded out by:
- My Pillow
- Wells Fargo & Co.
- Sears Holdings Corp.
- The Trump Organization
It’s not difficult to see why these various companies ranked as they did. The rise and fall of businesses on the list often directly correlates to the year’s events. Businesses that were perceived highly have distinguishable characteristics and elicit largely positive feelings, even for those who are not regular customers.Brand reputation can make or break a business. @RedBanyan will explain why. #targetaudience #reputationrepair Click To Tweet
Both Moderna and Pfizer, manufacturers of the highly-successful COVID-19 vaccines, are among the top-ranking companies. The majority of the businesses ranked as reputable have experienced some sort of image crisis in the last several years, and most consumers have heard negative reviews of these businesses from a friend or the media.
Crisis PR efforts are part and parcel of improving how businesses are viewed by the public. Proactive brand building helps companies improve their image, while proper crisis management can minimize the damage of unfortunate events and even increase perceived integrity.
Here are four tips for building your brand:
- Determine your target audience.
- Position your product and business. …
- Define your company’s personality. …
- Choose a logo and slogan.