Reputation: Your most valuable, yet vulnerable asset
"Reputation is the currency upon which all success is built." – Angela Ahrendts
As we navigate the digital age, it's becoming increasingly important for corporates, brands, and individuals to prioritize
#reputationmanagement as all that you've been working on through the years could be shattered by a single tweet or post, especially with risks nowadays being amplified by #socialmedia. With that being said, reputation is the cornerstone of your power which defines who and what you are, and the balance of how you view yourself and how others perceive it.
So, why is reputation management so important? Reputation plays a vital role in your future achievements and your positioning in a competitive #market. A positive #reputation leads to increased customer loyalty, improved brand recognition, and higher profits, which puts you or your brand in the light of trust and credibility. Emphasizing that, a new review survey conducted by BrightLocal states that 98% of consumers used the internet to find information about local businesses and made their purchasing decisions based on online reviews. Hence, positive reviews can be the deciding factor for potential customers.
Reputation management requires careful attention and proactive solutions to safeguard and strengthen your reputation in the public eye. Mishandling this area can lead to severe crises that not only damage a company's brand image but also have legal, financial, and operational implications. Many #companies even the most successful world #brands shot their reputation in the foot and were left with millions of dollars damage and public mistrust. Examples of PR disasters that happened through the last couple of years were many, naming but not limited: to "The BP Oil Crisis", "Nestle vs Greenpeace" outrage, the #DeleteUber campaign that went viral, "Pepsi and Kendal Jenner Ad" that turned out as a disaster, "H&M Monkey Sweatshirt" and "Balenciaga's 2022 Christmas Campaign". These are some examples that demonstrate the disastrous consequences of bad reputation management and marketing practices that jeopardize even the world's most popular brands standing, financial stability, and even its existence.
With this in mind, reputation management is your shield in the digital age and without it, you'll be an arrow in the wind with no direction.
Hence, #reputationmatters.
