The first two lines of Joan Jett’s 80’s song “Bad Reputation” go like this:
I dont give a damn ’bout my reputation
You’re living in the past—its a new generation
Joan Jett may not give a damn, but corporate America should—it’s hitting them square in the pocketbook.
A recent Harris Interactive poll showed a whopping 71% of consumers say the reputation of corporate America is “poor.”
This is bad news, not just for those companies, but for all marketers.
You see, lack of trust is part of a three-part lethal mix I believe is responsible for the failure of marketing today. The other two ingredients: Information overload, and marketing—as a discipline—is broken.
The 10 Worst Reputations
9) General Motors
3) Northwest Airlines
There’s some good news from the survey, though: Companies that care are being rewarded by consumers that will “buy, recommend and invest in companies that concentrate on building their corporate reputation.”
Robert Fronk, Senior Vice President and Senior Consultant of Reputation Strategy at Harris Interactive:
What the RQ survey has shown in recent years is that companies that pay attention to enhancing their reputation see bottom line results. The companies with a good reputation have stayed near the top of the list and those with bad reputations have gotten worse.
The 10 Best Reputations
2) Johnson & Johnson
4) General Mills
6) Berkshire Hathaway
Google is first. Halliburton is last.
To see how everyone else fared, view a PDF of the reputations of the 60 most visible companies from Harris Interactive.
Consumers are now in control. With plenty of choices and the information and transparency necessary to make socially conscious buying decisions, 71% of corporate America needs to wake up and smell the organic fairtrade, shade-grown coffee.
Are they “living in the past—it’s a new generation?”
1) Are there any surprises on either list?
2) What do you think corporate America can do to restore consumer trust?
Comment below to weigh in.
I know you can’t get “Bad Reputation” out of your head.
Go ahead. Give in. You know you want to watch it.
Hey, at least it isn’t “Crimson and Clover!”