Business in the 21st century is undergoing a sea change, with commercial entities and their leaderships increasingly moving away from dicey and non-measurable marketing and public relation strategies to corporate reputation management.
There is a growing awareness in industry and management circles that in the warp-speed world of today, one wrong move can have you nailed, especially through social networking mediums such as Twitter and Facebook.
Proactive brand reputation management as opposed to enlisting public relation firms to deal with criticism and crises is the mantra for retaining a sound reputation and in turn possessing the potential to stimulate stock prices.
Given the existing market climate, a company's success or failure is largely dependent on how it is recognized. Large enterprises are accountable to shareholders and investors. There is pressure to log in profit and more often than not, there is a wrong move. Slip-ups like reckless expansion and wobbly strategies can damage reputations and that is likely to lead to a deficit in public trust.
Large corporations are inclined more towards brand reputation management rather than launching new products and companies have started using their online reputations as assets to expand the flow of investments, gain customers and fuel market share.
Online reputation repair and risk management firm aReputation's (www.areputation.co.uk) spokesperson David Miller pointed out, "India's top 1000 corporate houses require end-to-end online reputation management, both as a reinstation to print and television users who also use internet, as well as a mechanism to reach out to the 100 million-plus internet users who spend majority of their waking time on the internet, laptops and smartphones.
"The public is now connected to the outside world in more ways than just TV. News spreads quickly online. Our analysis shows that a streamlined approach to managing a firm's online reputation has a meaningful impact on customers and boosts employees' morale. We don't use smokescreens, rather, we strive to fix the issue."
No image problem is necessarily permanent. With the help of a professional company, almost any person or enterprise can redeem himself or itself. Identifying the right reputation manager is not easy. The competition with regard to online reputation is stiff and only those who understand the larger picture tend to leave the rest behind.
Miller said, "We manage 120 of India's 1000 largest businesses' brand on various social media platforms-Facebook, Twitter, Google+, Pinterest, etc. aReputation manages and helps launch a business' social media presence by developing brand strategy, creating relevant profiles and posting to and monitoring those profiles. Our USP remains online reputation repair and crisis management."
Interestingly, aReputation not only has a handle on current social media platforms, but also monitors industry trends to determine what the new social media tools are, constantly updating tools and avenues. Managing negative content and helping to keep personal information private is also a service that is used on a large-scale by high-networth companies.
According to Forbes, the purpose of an online campaign is not just to be a soapbox for your brand; it's about selling and promoting your brand to a wide variety of audience including investors, employee, customers, vendors and the general mass.
With the help of specialists, online reputation management can be used to re-establish good faith, promote services and increase revenue. (ANI)