Exporting Reputation is Hard
The Reputation Institute just came out with their newest global reptrack looking at reputations worldwide. The survey is among consumers in 15 markets and the findings appeared in Forbes as well as on their website. I was very taken with one of the findings because it answers a question that often comes up — what companies have the best global reputations? Interestingly, they found that no one company among their top 10 most reputable companies in the world was able to maintain that stellar reputation across all 15 markets they investigated. They said that only 10 out of 100 companies made the Top 10 in 6 or more of the 15 makets, therefore underscoring the challenges of building a strong global brand reputation. Having a strong reputation in the US and let’s say the UK does not translate necessarily into China or Japan. Here is more on what RI had to say about the difficulty of building global reputations:
- Up to 20% weaker reputation in foreign markets
- Companies lose up to 24% of consumers’ willingness to recommend in foreign companies
Clearly, getting it right across markets when it comes to reputation would be a major competitive advantage. As RI says, “exporting reputation is challenging.” And so it is.