Building Trust with Products and Services

 

At the very heart of the RepTrak system is the reputation pulse scorea quantitative measurement of the feeling, admiration, and trust that stakeholders have for a company.

In simpler terms, RepTrak measures the intangible emotions that stakeholders feel towards a company, that ultimately drive behavior such as purchase intent and trust.  

But what influences these emotions?

The 7 business drivers of reputation are a stakeholder’s perception of:

  • Products and services
  • Innovation
  • Workplace
  • Governance
  • Citizenship
  • Leadership
  • Financial performance

Like the pulse score, each dimension score is measured on a scale of 0-100.  The importance of each dimension in driving reputation changes depending on what company is being measured and which stakeholders are being surveyed (for example, certain dimensions are more important to the general public than they are to a company’s employees). Ri’s proprietary algorithm, that incorporates these 7 dimensions, allows companies to understand what matters most to their key stakeholders.

A company’s product or service offering is the most important driver of reputation in many industries. 

A high score in this dimension means that stakeholders think that the company stands behind its products/services and that they perceive these products/services to be of high quality, to meet their needs, and be of good value.  

LEGO, Rolex, and Netflix: Masters of Product and Narrative 

In our 2019 Global RepTrak study, The LEGO Group, Rolex, and Netflix had some of the top scores in the products/services dimension. 

What makes LEGO, Rolex, and Netflix stand out in terms of their products/services and in turn their reputation? 

Firstly, each of these companies have time-tested, reliable, and consistent products/services. These select companies take it a step further by building a narrative. LEGO, Rolex, and Netflix link their products to the values of its customers and its greater brand promise.  

LEGO, for example,  makes toys that children love to play with, but these toys also help develop creative thinking and systematic reasoning skills. 

Rolex makes some of the most luxurious watches on the market and promises that these will not fall short of the perfection the company has developed over the last 100 years.  

Netflix is the world’s leading internet subscription service and it ensures that customers have access to endless entertainment in every genre by acquiring streaming rights for popular shows and producing original shows.    

Communicating Your Company’s Story Enhances Reputation

The lessons learned from these companies is simple: create a narrative and promise around your product that relates its functionality to what customer’s care about. 

This narrative around products/services guarantees that stakeholders will have a stronger connection to the company and as a result, its reputation will be driven upwards.

 

Download our report on the ROI of Reputation

 

Tom Gumbley Associate Reputation Institute tgumbley@reputationinstitute.com

 

Previous
Procter and Gamble: Not So Secretly Closing the Gender Gap
Procter and Gamble: Not So Secretly Closing the Gender Gap

To garner greater stakeholder support, companies and their leaders must champion and support an affirmative...

Next
This Month in Reputation: Banks, Beers, and Beds
This Month in Reputation: Banks, Beers, and Beds

Budweiser became the King of Beers, Wayfair learned a tough lesson, and the Dominican Republic faced a tour...