Measure Your Brand Reputation Using The Axios Harris Poll 100

We're told that the opinions of others don't matter, but in the world of business, it can make or break you. Whether it's something simple like ____ or much more important decisions like _____, what other people think and say impacts what we do.

Brand reputation is important because consumers are more likely to support brands that they trust to deliver not only great products and services but deliver on its claims. Using The Axios Harris Poll 100, a trusted ranking of the reputations of the most visible companies the U.S., we’ve analyzed the most essential areas needed to build and maintain a healthy brand reputation.

Trust

All relationships are based on a foundation of trust. Without trust, there is no relationship. With an oversaturation of products, services, and information available 24/7 on the internet, it’s no surprise brand trust influences the modern consumer’s purchasing decisions. Brand trust measures how much confidence customers have in your business, and reflects whether or not your branding is consistently delivering on its promises and staying true to its values. According to  , trust in brand comes second to price when consumers decide to purchase or pass on a new brand.

To build trust among your consumers, you’ll need to provide excellent customer service, be transparent with your product or service claims, maintain existing relationships with loyal customers, and set measurable goals at every touchpoint you use to connect with your consumers. Maintaining your consumers’ trust in your brand pays off in the long run, as brands with higher rates of consumer trust are almost twice as likely to retain their customers.

Character

• Culture – “Is this a good company to work for?”
• Ethics – “Does my company maintain high ethical standards?
• Citizenship – “Does my company share my customer's values and support good causes?”

No, we’re not talking about talking lizards, or brand mascots. Just like our personalities make us likeable versus impersonable, or inspiring versus dull, a brand’s character puts a human spin on your brand, making it relatable and unique in a crowded, competitive landscape. Specifically, your brand’s character is the collection of emotional, intellectual, and behavioral patterns that make your brand recognizable to a target audience.

But why does developing your brand’s character matter? In addition to differentiating your brand from other competitors, your brand’s character is the client-facing part of your brand that your customers will identify with and look to build a relationship with. Because of this, it plays a major role in driving customer acquisition, fostering brand loyalty, and building brand equity. Brand character is the reason why Starbucks customers feel so at home in its cafes, and why Toyota customers can’t picture their teenagers driving anything other than a Camry.

Whether it’s analyzing the ethics of your business model, optimizing your internal company culture, or supporting causes and initiatives for social change, a brand’s character should act as a single, unifying drive force behind your company and your brand. It gives your employees, stakeholders, and customers something to rally behind, and to believe in. When business leaders think and operate in unique ways internally, they can begin to translate the unique identity and image of their brand externally. Thus, how you operate on the inside should characterize how you want to be perceived by your customers on the outside.

Trajectory

• Vision – “Does my company have a clear vision for the future?”
• Growth – “Is my company growing?”
• Products and Services – “Does my company develop innovative products and services that others want and value?”

Brand trajectory is all about the direction your brand is headed in, based on your business’ vision, objectives, or end goals. The trajectory of your brand is important because it ultimately dictates what products and services you offer consumers, as well as any other enhancements and improvements you choose to make to your products in the future. In addition to leaving room for customer feedback, your brand trajectory should track growth beyond just clicks, impressions, attendees, and revenue. Instead, consider these metrics to track your brand’s impact, success, and gradual progress:

• Exposure Rate: The number of views measured against a specific target audience.
  • Ask yourself: “Did I successfully increase specific audience impression rates while also lowering the cost of the impression?”
• Interaction Rate: The number of interactions (clicks, shares, etc.) and page views, expressed as a percentage.
  • Ask yourself: “Did I increase the number of interactions and lower the cost of the interactions for a specific audience segment?”
• Growth Rate: The number of net new prospects added to the brand.
  • Ask yourself: “Is my audience pool larger for the next campaign?”
• Quality Rate: The number of qualified prospects.
  • Ask yourself: “Did the number of qualified prospects increase or decrease? Did I add the right type of prospects for the next campaign? Are they lower in the conversion funnel?”

Once you’ve quantified your metrics, it’s time to develop a clear path for identifying trends and reporting them. Defining the path and casting a vision for what you’ll be looking for will require you to change your perspective, but by focusing on the right short-term metrics, you’re helping ensure your brand’s long-term success. The bottom line? Measured trajectory ensures your brand is always moving ahead. It may be more time consuming to map out and measure the trajectory of your brand at first, but focused effort and patience allows for growth and future-proofs your next campaign.

With so much competition vying for consumers’ trust and business, maintaining a positive brand reputation has never been so critical to overall business success. Now more than ever, businesses will need to be proactive, creative, and adaptable while being alert to trends in the public opinion. Focusing on optimizing the customer experience, maintaining customer and employee satisfaction, and catering to all customers’ needs are all good places to start. While you won’t establish, or rebuild, your brand’s reputation overnight, you can begin to take the first steps into becoming a trusted consumer-oriented brand for years to come.