The Reputation Report - Set KPIs or Perish by Rebecca Bilbao

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We operate in an economy that highly values reputation. When customers, employees, and stakeholders perceive that a company is “doing good” in the world, they develop an emotional connection, often expressed as loyalty. http://connotemagazine.com/features/the-reputation-report-set-kpis-or-perish/

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Connote Magazine: The Reputation Report – Set KPIs or Perish By Rebecca Bilbao :

Connote Magazine: The Reputation Report – Set KPIs or Perish By Rebecca Bilbao

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Daily communications and decisions do not just consider reputation ; they revolve around it as a Key Performance Indicator (KPI). Companies that are serious about creating a positive reputation invest significant amounts of their budgets into reputation management, an investment that directly impacts its financial performance. REPUTATION AND EMPLOYEE PERFORMANCE A company’s reputation is often considered what outsiders think, but it is important to also consider internal reputation. According to a report by Hill+Knowlton , 83 percent of MBA students list reputation as a critical component of choosing a future employer. A company’s values and deeds are important to employees and potential employees. Critical factors include a positive environment in the office and a social/philanthropic commitment, one that supports a sense of purpose. This is attractive to top recruits and helps create a loyal employee base. Clearly , reputation and performance are linked. According to a study by Harris Interactive, people are much more likely to purchase products or services from a company with a strong reputation than from a company with a poor reputation (61 percent versus 5 percent). An analysis by Prophet also shows that highly respected companies generally outperform their competitors. Using Google finance data from 2006-2008, Prophet found that companies with consistently positive reputations had nearly 13 percent better returns than the competition. Reputation influences consumer purchases, investor decisions, financial performance, and internal employee satisfaction. It is visible in an instant on the first page of Google. New information that affects a company’s reputation can spread virally across the globe in a matter of hours. It is not easy to build a strong reputation in a digital world, but in such a dynamic situation, it has never been more worthwhile. REDUCING RISK By creating a strong digital presence and actively engaging in social media, companies reduce risk and capitalize on opportunities, giving themselves a strong advantage over competitors while simultaneously protecting themselves from potential reputation damage. Consider this: One in four teens are “cell-mostly” Internet users, who say they mostly go online using their phone. At the other end of the spectrum, the Pew Research Center’s Internet and American Life Project reports that as of 2013, a majority 54 percent of people over age 65 used the Internet. Companies that are most successful in leveraging social media and message virility deploy social media specialists and best practices to: • Manage the company’s presence on social networks • Use analytics to measure campaigns and demonstrate value • Listen with real-time monitoring tools • Ensure that a company’s digital communications are in line with its reputation strategy These specialists also have a good understanding of what makes things go viral across multiple platforms. A strong digital media presence not only helps companies connect personally to followers, but also creates a strong platform of media assets to counter any negative media messaging.

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