Brands are in a constant battle, competing for market share, but why is there always an outright leader? Is it down to price? Is it because they advertise more frequently? Or is it because they have a reputation for excellence and integrity that overshadows their competitors?
Top class leaders measure the intangibles that drive corporate success: trust and respect; integrity and ethics; and respect for society and the environment. Simply put, they know the value of reputation. CEOs often focus on profit and loss (P&L), but what really counts when mistakes happen, when markets tumble and buying power slows, is whether a brand has developed enough trust, support and respect over time.
Companies with an excellent reputation achieve a 2.5 times better stock market performance. In a crisis, 63% of the public give the benefit of the doubt to these companies and with each five-point improvement in reputation, there is a 6.5% increase in intention to purchase.
We’ve worked with numerous Irish brands over the years and developing customer trust in the brand is always a key factor in driving their success in the market.
Get in touch to see how we can help you bring your brand to the next level today.