SIGNIFICANCE OF REPUTATION MANAGEMENT
Reputation management is not just about communication and it's not just a matter for communicators. As Socrates recognised, it's about what you do as well as what you say, and the two have to be consistent. The vital role for communications professionals is constantly to remind all managers of this – including the accountants.
SIGNIFICANCE OF REPUTATION
Reputation is a perception of value or distinctiveness vis-a-vis peers and competitors — that is held in the mind of stakeholders and prospective stakeholders. Reputation Management, then, is a systematic approach to management where decision-making is informed by the perceptions of value vis-a-vis peers and competitors that are held by an organization’s stakeholders.
People are talking about the importance of reputation management now more than ever before. An issue that applies to both individuals and business entities, the importance of reputation management on the Internet has gained a great deal of attention as of late due to the web’s continued rise as tool for person-to-person interaction. In the same vein, companies are using Internet-based reputation management in increasing numbers to promote products and services to a larger audience, as well as to create a positive buzz about a particular brand through viral or non-viral marketing tactics.
Reputation builds competitive advantage. Studies have found that organizations with better reputations do better financially, attract and keep talent at lower costs, have lower costs of capital, and more easily gain support from government and other stakeholders in times of need.
Every organization will have a reputation, whether or not they help shape that reputation. People judge organizations in a variety of ways-by what they do, by what they say they do, and by what others say they do. Those organizations that do not manage their reputations will have it managed for them by competitors, critics or others.
It is a process, not an event. Activities like corporate social responsibility, crisis management, and the like are important tactics, but they will not be successful if the organization does not align itself to behave in ways that build reputation, credibility and trust among those who determine whether or not it will succeed.
- Reputation is key to managing image and brand
- People don’t know what they want until they see it
- Be clear that image can influence reputation
- Failure-elimination helps improve reputation
- It takes years to build a reputation, but only a few weeks to destroy it
Reputation management has many complexities, of course. But the key message is that unless it is locked into the whole business process, we professional communicators are wasting our time. So, four starter tips:
Ask senior decision-makers what they think is the reputation of the organisation – and perhaps what they think it should be
Seek their support for research into what key stakeholders actually think of the organization
Develop a strategy for reputation management that serves and supports clear business objectives, and
Try to introduce reputation management as a regular agenda item for the Board or senior management team.
Some suggestions to do Reputation Management are:
· Create official online profiles.
· Check what people are saying about you online.
· Stay consistent and constant.
· Assume everything can get on the web.
· Correct your weaknesses. .
· Secure your online information.
· Privatize your social networks.
· Be proactive and act fast.
The Importance of Reputation Management in the Internet Era
If an individual maintains any sort of presence online, perhaps via a social networking profile or personal blog, understanding the importance of reputation management becomes paramount to his or her life offline. Placing oneself in the public sphere on any kind of Internet platform can elicit either positive or negative outcomes depending on a variety of factors. When you Google your name, do the search results meet your approval? Hopefully the answer is yes, although this certainly isn't the case for everyone. If negative content associated with your name makes its way online, that information can seriously hinder your real-life endeavors. For companies of every shape and size, the importance of reputation management online boasts distinction as the starting point of reference when designing and implementing expansion strategies. Every business wants to display its proprietary website prominently. When poor customer reviews are optimized properly, search engines may rank those pieces of content higher than an actual company site, setting the stage for a public relations disaster.
Building a positive reputation online doesn’t happen overnight, although the digital resources we all have access to can simplify the process in many regards. With the help of an online reputation management specialist you can take control of your online image and make it work for you.
SIGNIFICANCE OF REPUTATION MANAGEMENT