50% of consumers have lost respect for CEOs and other corporate leaders in recent years.
Companies must do a better job of earning the respect of their customers or they risk losing market value, a recent survey from Weber Shandwick and KRC Research finds. And much of that reputation rides on the credibility and trustworthiness of the CEO, according to "The Company behind the Brand: In Reputation We Trust - CEO Spotlight." The image of a company's top executives can be heavily influenced by social media, and often word-of-mouth isn't presenting corporate leaders in a flattering light. "Gone are the days when purchases were made solely on product attributes," says Leslie Gaines-Ross, chief reputation strategist at Weber Shandwick. "Today's consumer is savvy, well-informed and privy to a plethora of purchase options. Decisions are now increasingly based on additional factors, such as the company behind the brand, what the company stands for and even the standing of its senior leaders." While many larger companies are perceived to be losing credibility with customers, local small business are being seen in a more positive light. Weber Shandwick KRC Research surveyed 1,375 consumers and 575 senior executives in the U.S, the U.K., China and Brazil.
Dennis McCafferty is a freelance writer for Baseline Magazine.
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