Manage your company's reputation or fate will manage it for you.
Today business is facing unparalleled scrutiny by regulators, by the public and by investors. If a company's reputation becomes tarnished by financial impropriety, lack of transparency or ineptitude, it can mean the collapse of share value and consumer confidence. In our changing media and economic environment, establishing and protecting a company's reputation has become more important than ever.Business Week, in a 2007 article titled "What Price Reputation," posted the chart below on the boost in shareholder value when a company has a reputation demonstrably superior to its competition.
The bottom line, billions of dollars are at stake.
...IF
...HAD THE REPUTATION OF...
...ITS STOCK WOULD RISE...
...BOOSTING MARKET VALUE BY
Coca-Cola
PepsiCo
3.3%
$4 BILLION
Wal-Mart
Target
4.9%
$9.7 BILLION
Colgate
P&G
6.2%
$2 BILLION
CVS
Walgreen
3.5%
$3.5 BILLION
Source: Business Week 2007
Building a positive reputation for an organization in an uncertain, nervous marketplace is hard work. It is an immensely time-consuming and increasingly difficult process.
Your company’s success, in large measure, rests on the stories you have to tell, how well you tell them, how often you tell them and to whom.
Isn’t Reputation Management just "PR" with another name?
If only it were that easy. The growing cynicism of all audiences and their increasing "message fatigue" means the old way of conducting business needs to change.
Today, the selection and development of positive stories about a company on which to build, defend or repair a reputation must meet a far higher standard of credibility and transparency than ever before.
Your company's success, in large measure, rests on how well you meet this new standard. Raising the bar to meet this higher standard rests on perception. In short, it all depends on how your company is viewed by Main Street and Wall Street.
In the rapid fire, 24 hour news cycle, what stories are getting out about your company? Are they positive or negative, where are they being seen and who is reading or viewing them. Over a period of time, your company's perception is created on threads of information that develop into a composite picture.
To learn how to deflect negative stories and turn them into positives, and to find, tell and place the right stories for your organization click on the Services tab>
