Brand reputation leadership and trust – what leaders need to know
Brand reputation leadership is becoming a very hot topic these days. A recent corporate reputation survey into trust and credibility was launched at the World Economic Forum at Davos 2019 and tells a continuing tale of woe. Trust in brands, businesses and governments alike is in what seems like terminal decline.
Reputations in freefall – it’s judgement day for brand reputation leaders
The study mentioned above is but one of several research reports that are putting large brand reputations under an uncomfortable microscope, along with the brand reputation leadership of their senior management. The lessons, however, are relevant for companies of all sizes – and all leaders. Because CEOs and leaders are increasingly being held publicly accountable for failures of trust and behaviour.
The Global RepTrak ranking for 2019 appeared in March – and was termed ‘Reputation Judgement Day’ thanks to the catastrophic drops experienced by some brands that have been in the spotlight around data, such as Facebook. “It’s reputation judgement day, given that 52% of the world have doubts about the good intention of ALL companies” stated the Reputation Institute (now The RepTrak company).
It is becoming clearer and clearer that you can’t simply hope to behave badly and get away with it, any more. Nor can you fail to step up to what consumers and business partners increasingly believe are your fundamental ethical and social responsibilities.
You are who Google says you are
Now Google’s own reputation may be in decline, if RepTrak is to be believed – this year it fell out of the top 10 list. But it is also part of the challenge. Because today every company is visible online and, to a large degree, you are who Google says you are and how you appear to others via Google.
Business and consumer buying decisions increasingly rest on reputation. Contracts are won or lost based on reputation. Investor decisions are influenced by brand behaviours. Customer goodwill and reputation are now recognised, even if intangible, financial assets. That makes brand reputation something every leader should care about. A lot.
Managing brand reputation is a leadership issue
Marketing can’t create, protect or manage reputation effectively without leader involvement. One reason is that brand reputation isn’t something you can fully control or simply decide to improve. It is a slow process, and there are nine critical things that leaders need to understand. We believe there are nine key reasons why managing brand reputation is a leadership issue.
These are all the reasons why brand reputation leadership is so vital.
Your company or brand reputation is:
External – it is based on what others think about you. Not what you want them to think, or only based on what you tell them.
Integral – it is influenced by all your employees, partners, and stakeholders, in common. Their impressions and experiences help form it. The reputation you have with them isn’t static, nor guaranteed.
Cumulative – everything you say and do stacks up and influences your reputation. You create a trail of online breadcrumbs in which nothing is forgotten. Monitoring the reputation of brand is a must.
Human – it isn’t only what Google thinks that matters. What comes up in search is certainly important. It is also vital to manage your reputation in the real world too.
Social – reputation is driven day to day by how you interact with the world. Every touch leaves an impression. Negative ones can be passed on far too easily. CSR is important – because people see and comment on your behaviour.
Leadership-linked – you are intrinsic to your brand reputation. You humanise the brand, but it shines a light on your own behaviour 24/7/365. The reverse is also true: your personal brand can be impacted by that of your company.
Connected – every part of your business contributes to your reputation. How they treat people counts too. That includes your channel partners, agencies and anyone else in your ecosystem.
Alive – your reputation grows over time. It is, or will become, a rich, layered entity. It will evolve as you grow and change. Managing it through its lifecycle is essential.
Vulnerable – reputations can be damaged or destroyed in seconds. Careless comment, bad behaviour and crises can ripple through the social universe in seconds. Mainstream media are now just as fast.
Understanding the dynamics of brand reputation and stepping up to a proactive brand reputation leadership role is now an essential requirement for business leaders. In any sector, at any time, your success rests upon your reputation.
I’ll leave you with a question or two to consider.
How well, and how proactively, do you manage and protect your company’s brand reputation?
How tuned in are you to the many reputation risks and pitfalls that lie in your way – and are you prepared and confident to face them?
If you are uncomfortable with your own responses to these questions, get in touch about how we can help you prepare to manage your reputation better.
This article was first published on LinkedIn in 2017 but we’ve updated it with current links.