Given the digital nature of news and communication, it should hardly be surprising that many experts consider a company’s reputation to be its most important asset. Corporate reputation is, by nature, precarious, so a mismanaged corporate reputation can be disastrous to the going concern of an organisation. Something as innocuous as a negative review going viral, a scandal involving a company spokesperson or a mismanaged complaint can cause lasting reputational damage. For this reason, it is imperative to manage your corporate reputation in a considered and strategic way. Only then can companies build trust, credibility and positive awareness.

Let’s delve deeper into what corporate reputation management is, how to measure it and how to be proactive about it.

 What is Corporate Reputation Management and How is it measured?

Put simply, corporate reputation management is the process of strategically shaping and maintaining the external perception of a company held by the general public, internal employees, investors, government and other stakeholders. A well maintained corporate reputation leads to increased customer loyalty, strong investor confidence and higher employee satisfaction.

But in order to develop the strategy behind how to steer your corporate reputation, you first need to have a good understanding of where is stands in terms of public perception. How is this measured?  

Typically, measuring the day-to-day fluctuations of a corporation’s reputation involves regularly checking media coverage, customer reviews and feedback, brand sentiment analysis, social media commentary and competitor analysis. Keeping on top of the conversation provides the opportunity to mitigate risk and curtail any reputational tarnishes.

Proactive Corporate Reputation Management

With so many moving parts, it’s essential for businesses to take a proactive approach to manage their corporate reputation. This involves planning and constant tactical efforts to keep on the front foot. Key strategies include:

• Thought Leadership and Executive Profiling: Positioning company spokespeople as industry experts through media interviews, guest articles, and keynote speeches.
• Positive Brand Storytelling: Sharing success stories and case studies, corporate governance initiatives and employee spotlights to build brand equity.
• Customer & Employee Engagement: Garnering positive testimonials, responding to reviews, and fostering corporate culture through internal communications.
• Media Relations: Securing media coverage and managing inbound media enquires.
• Crisis Communication: Preparing for and mitigating reputational threats.

Crisis Management

Even companies with stellar corporate reputations can come under fire from reputational threats. When a crisis does arise, it’s the way in which a company responds that could dictate how much of the long term impact it can have.

In order to stay on top of threats to your corporate reputation, being on the front foot in terms of strategy is crucial. It’s important to have a crisis communication plan in place in case of unexpected situations. Having this plan in place can facilitate a lot of the heavy lifting in what happens at the front end of a crisis. It’s equally important to respond to media enquires professionally, quickly and to be transparent and honest.       

In fact, a well-handled crisis can even strengthen a company’s reputation by demonstrating accountability and integrity.

A company’s reputation is indeed one of its most valuable assets. Whether through proactive PR efforts or crisis mitigation, corporate reputation management is essential for long-term success.