Reputation Management: 3 Areas that Require Well Thought-Out PR Strategies

Just a couple of decades ago, handling reputation management was very different from what it is today. Organisations were not used to engaging shareholders, customers, and the public but were just dealing with a passive audience. Overall, the communication landscape was typically “top down.”

guaranteeHowever, currently, no matter how big or small your business is, everyone starting from customers, clients, prospects, to stakeholders is talking about you and your business. They are commenting on Twitter about your latest product, commenting on your business blog, and updating their customer experience on Facebook, and much more.

It is in view of these new developments that managing your business reputation assumes even greater significance. Classic examples where you need to develop well thought-out strategies in reputation management include but not limited to the following three:

Business Rebranding Following Redundancies

No management team looks forward to the task of having to declare some workers redundant. Sometimes, however, there appears to be no other alternative but to cut costs if the business is to remain afloat. A major downside of this action is that it has the potential of damaging your business reputation, which could negatively impact sales and brand loyalty. 

It’s imperative that redundancies are handled very tactfully. Essentially, you require switching the media focus from your HR action back to your business and actual products as soon as possible so that your organisation can move ahead. You may consider launching a new product or running a new innovative marketing campaign.

PR Campaigns that Have Flopped

Even among the most astute and experienced marketers can sometimes make huge PR mistakes that trigger a massive backlash. For example, in efforts towards promoting the benefits of using coal, Australian industry representatives released what they assumed would be a winning a 30-second video with a catchy title. 

Unfortunately, immediately after the launch of the video promoting “endless possibilities” with coal, it was bombarded with massive opposing comments on Twitter. The coal episode points to the fact that indeed the line between failure and success is very delicate within the ever-malleable PR world and needs well laid out strategies.

Investor Relations

Institutional investors today want to hear more about the “bigger picture” or “bottom line”in terms of the kind information they are supplied with by management. IR specialists are therefore being required to possess a diversity of skills that must be a blend of public relations specialist, proficient analyst, and expert accountant. Without these vital skills, they may not be in a position of inspiring and investor confidence. 

Effective investor relations form a vital component within the framework of your business communications activities, and you cannot afford to overlook them.

Final Verdict

In today’s digital era, nothing can protect your business anymore from critical external eyes. From a perspective of freedom of speech, this is good, but bad in case your organisation is under negative or unwarranted attack. According to business PR experts, trust is an extremely perishable business asset and it’s not easy to acquire. 

Making the customers, stakeholders and the public respect your business is perhaps more important compared to all other reputation management principles. If you find that your own reputation management strategies and efforts are not bearing enough fruit in restoring your brand image, you may consider engaging the professionals.

 

 


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