What Goes Into A Good Reputation?
We all have certain companies that are irreplaceable in our minds. From industries like cars, food, computers, furniture, toys, etc., there are some brands that maintain customer loyalty because those consumers trust them.
I’m not terribly picky about brands; I’m more of a price-hunter, and am willing to deviate on brands if necessary to save some money, as long as the product is still a good quality. Some of those brands are Samsung for phones, Hyundai for cars, and Lidl for groceries (a relatively new German grocery store just entering the U.S. market).
For me, those companies have the best reputations. Based on quality and price range, I’ve determined that these companies and their products are reputable and will continue to purchase them for the foreseeable future.
But what about companies that have the best reputations worldwide? I like certain companies myself, but that doesn’t mean everyone else necessarily agrees. So what companies do the world rate as the most reputable?
The most trustworthy company in the world, according to the Reputation Institute, is Rolex, the Swiss luxury watch maker. On their score sheet, the company rated 80.38, above the “Excellent” level. Coming in second was Lego, the Danish toy company at 79.46. And third was the Walt Disney Company, rated at 79.19.
The rest of the top 10 are listed below.
What is one of the common threads among these companies? They deliver on their promises. A Rolex watch promises the epitome of luxury in your timepiece, and they deliver. Disney promises a magical experience, and they deliver. Lego promises to provide one the ability to create anything, and they certainly deliver.
Consumers trust these companies because they stick to their word.
So here’s the lesson for all other companies out there: if you want people to trust you, you have to deliver! Simply put, a company gets its reputation by delivering on its promises. Reputation equals trust; trust in the product, and the people who ultimately created it. In some cases, it’s hard to put a price tag on that.
Do you agree? What makes a company reputable in your mind?