WEDNESDAY 16 SEP 2015 11:18 AM

SEVEN DIMENSIONS OF BUSINESS REPUTATION

The 2015 Europe RepTrak® 100 has revealed which corporations stand out among the melee of companies vying for public visibility.

Carried out across Europe’s five largest markets, the research conducted by the Reputation Institute shows that consumers across the UK, France, Italy, Germany and Spain have cited LEGO Group, Sony and Samsung as their top three multinational corporations in terms of public engagement and customer-focused communication. BMW Group has climbed from fourth place in 2014 to claim the top spot in this year’s European Rankings and in the UK, Lego holds highest prestige.

Based on over 15,000 interviews, business reputation was measured across innovation, leadership, governance, citizenship, workplace, performance and products/services. The Reputation Institute describe these as the the ‘seven dimensions’ imperative for outstanding corporate engagement.

The corporate world bears witness to an increasing proliferation of social media and digital communication. However, these consumer-based findings highlight how businesses are almost entirely distinguishable through their record at front-facing customer engagement. Word of mouth is just as important in maintain company reputation as it has always been. Using the RepTrak® Pulse of each company surveyed, a measurement is found regarding the emotional connection it forges with its customer base. These findings can often influence future customer perceptions.

Sustaining a reputation in even a harsh business climate is integral for the continued success of a corporation. Indeed, when a well-respected company faces a potentially challenging situation, there is evidence to suggest that effective past crisis response will encourage its consumer base to remain loyal. According to the Research Institute, consumers are twice as likely to continue buying from a reputable brand even despite a crisis situation arising.

Kapser Ulf Nielson, executive partner of Reputation Institute, says “The success of a company depends on its ability to earn the public’s support, and to support a company the public needs to trust it will deliver on its promises. The best companies have found a way to stand out on one or more of the seven dimensions of reputation, providing them with the platform to engage and communicate with consumers.”