Corporate Reputation Management: Your Keys to Success
Corporate reputation management is a combination of strategies that are used to shape consumer perception of your brand.
Today, consumers rely on current customers to tell them whether or not a business is worth their time and money. Consumers look at feedback from online reviews and social media to use in their decision making when selecting a business.
Why Corporate Reputation Management?
There is only one way a customer can start a journey with your brand. And that’s by interacting with your brand in some way. Under corporate reputation management, there is a constant cycle, a loop of the different ways in which a consumer will interact with your brand.
We’ve got the main touch points for customer interactions with a brand, which are public relations, advertising, media coverage, website, and online reviews and social media. The other touch point is local search.
A local search is performed by a customer right after the customer hears about you or when the customer will search for a business related to yours. The customer then finds out that not only does your brand exists, but also can look at what customers have to say about your brand. So if a consumer is searching for a restaurant to go to on Saturday night, they might type in “nice restaurants in Chicago.”
Where you end up in search results will be determined by how effectively you manage your corporate reputation.
Does Employer Brand Matter?
A strong employer brand affects overall corporate brand reputation. Customers and even investors are looking at your employer brand and making decisions based on your company culture and what employees have to say about you.
Also, if you are looking for more applicants, companies with a positive employer brand will see twice as many applications come through as companies that have a less-than-desirable reputation. And employer brand includes the interview process.
Example of Negative Corporate Reputation
Remember Uber in 2017? We heard a lot of negative news about them. Like this: According to Business Insider, Uber fired more than 20 employees on June 6, 2017 after 215 claims of sexual harassment were uncovered during after a workplace investigation. Uber’s investors demanded that Travis Kalanick, the company’s CEO, resign later that same month.
This type of news is obviously not good for Uber’s brand reputation. Former drivers and passengers of Uber have been opting instead for Uber’s rival, Lyft, in the last year. Fortune reported
By: Rexly Penaflorida II
Title: Corporate Reputation Management: Your Keys to Success
Sourced From: www.reviewtrackers.com/blog/corporate-reputation-management/
Published Date: Wed, 10 Feb 2021 15:00:47 +0000