Rolex ranked most reputable company by consumers: report

Swiss watchmaker Rolex has the strongest corporate reputation of the 100 companies studied in a new Reputation Institute report.

The Global RepTrak 100 study gives the most familiar brands ratings based on consumers’ likelihood to make a purchase, speak positively, invest or seek employment with a particular company. Rolex rose to first place in the list thanks to its products and services, earning a higher score than any of the previous top finishers.

Reputation Institute’s report is based on more than 170,000 ratings from 15 countries. To be eligible for the list, brands must have an economic presence in the top 15 countries, have a global familiarity of at least 40 percent and an above-average reputation in their home nation.

Relative reputation
Along with Rolex, the top 10 included brands such as Google, Sony and The Walt Disney Corporation. Both BMW Group and Daimler Group fell out of the top 10, placing in 12th and 27th, respectively.

Other luxury consumer companies came in on the top half of the rankings, with Armani at 28 and Estée Lauder Companies close behind at 37.

Also coming in with strong ratings were 43rd place Hugo Boss and Ralph Lauren Corporation at 45.

Ralph Lauren Icons campaign

Despite not making the list for the global audience, LVMH ranked fifth for North Americans.

Reputation Institute notes that one way to gain a better reputation is by communicating more openly and often with consumers.

“The annual Global RepTrak 100 spotlights the companies that truly understand what they stand for and how to reinforce the emotional bond with their stakeholders across all the markets they serve," said Michele Tesoro-Tess, Reputation Institute executive partner. “This year’s Top 10 companies come from different sectors: reputation is a cross-industry asset and companies continuously invest on it because their leaderships finally recognized its impact on business performances.”

Making a good impression on consumers is important, as a positive or negative opinion can have influence over others.

Word-of-mouth recommendations from trusted sources have more sway over consumers’ buying choices than any form of marketing, according to a survey by Influence Central.

Consumers are increasingly relying on reviews and social media to inform their purchase decisions, with 74 percent of shoppers saying they are more likely to ask their social network for opinions before buying than they were three years ago. With more information readily at their fingertips than before thanks to the Internet and smartphones, consumers are digging deeper than traditional media or the brand’s own channels (see story).