Thursday, June 23, 2011

How Do You Value a Good Reputation? And the Steps to Get There

There’s nothing more valuable to a company than a good reputation.

That’s a difficult statement to get your company’s financial people to swallow though, as measuring the true value of a company’s reputation is very hard, if not impossible, to cite on a balance sheet.

In 2007, the Chartered Institute of Managed Accountants published a paper called: Corporation Reputation: Perspectives of Measuring and Managing Principle Risk” where they concluded the following: “Reputation has a value even if it cannot be expressed financially … although reputation cannot be classed as an asset for balance sheet purposes; a good reputation can be seen as a asset to corporations.” The full report can be read at:

Simply put, while a company’s reputation is nearly impossible to value by an exact number, it’s a major reason why some companies prosper in both the short and long term.

Companies that build good reputations and brands by delivering great products, telling positive stories on how their product/program helped others and by communicating honestly and accurately with their stakeholders and customers, frequently find long-term success because they are able to develop a strong base of loyal, long-term customers who tell everyone they know about the positive experience they had with a company.

How exactly can you develop public relations/marketing initiatives that provide both tangible bottom line results and more importantly the intangible ones that will help your company to enhance its reputation amongst its customer base?

The Intangible

Public relations activities that can help your company to create or enhance its reputation are virtually endless, from getting a customer to write a favorable post on Facebook or positive review on or write a letter to their local newspaper about their experience.

And there’s a lot that your public relations firm or internal marketing staff can do to promote these positive customer stories to potential customers. You can promote these positive stories through:

• Press releases to the news media.
• Posting the stories and positive customer testimonials on your website.
• Posting a video on YouTube or various other Internet video websites.
• Get your third party stakeholders to recommend your company to their friends through word of mouth, sharing of your Fan Page on Facebook or Retweeting your company’s daily updates/news to their Twitter followers.

As I mentioned previously, some of these tactics can be highly successful in creating a good reputation for your company and spreading word on the street about your brand. These activities through are very difficult to measure success for; unless you’re planning talk to the millions of people who may have heard about your company on the local news, or read about it on Facebook, or saw a newspaper story on a positive experience that one of your customers had.

The Tangible

There are a great range of public relations and marketing activities that a company can undertake to take advantage of the latest technologies as well as some tried and true public relations and marketing/advertising techniques.

The emergence of social media, the Internet, Google Analytics and other Internet measurement tools has made it much easier in recent years to gauge the success and tangible results of public relations and marketing campaigns. As a result, a company is able to see in definite numbers how many unique users are clicking on their web pages, how many search for their company name and keywords that can lead to your company’s website, and how many people click on an advertising banner on a business website and it leads to them signing up for your product or program..

For the tried and true public relations and marketing/advertising techniques, you could create unique phone numbers for your company and its programs and cite them on advertisements that promote your program or alert your administrative staff to the latest public relations program to ask incoming callers where they heard about your company’s program.

These are just a few of the many public relations/marketing techniques that can help your company to increase and enhance your reputation and positively impact your company’s bottom line.

The latter will certainly keep the bean counters happy.


Father Time said...

Great advice!

Cheap Flights said...

Whether it is the theme based casinos or the enthralling shopping mall or the lavish dinning experience strike the perfect balance of Natural and man made beauty amazing the minds of tourist by booking flights with Flights to Las Vegas| Crystal Travels to enjoy an ever entertaining vacation escape.
Cheap Flights to New York | Cheap Flights Tickets.

kevin21 said...

Is outstanding as the newborn audio frequency manufacturer evil spirit, also has settled on the market situation, promotes each kind of different design unceasingly the wireless earphone, and the Monster Headphones and the handset technology suspension hook, enables the product which the evil spirit Beats Solo Hd Frequency Response outstanding not only to use in PC and on the MP3 player, simultaneously may also apply on the Cheap Polo Shirts For Men. Recently, a section of evil spirit outstanding E280 blue tooth earphone appeared in the market. He glistened is taken to the threshing ground, lets the wireless earphone be also many a new favorite. Below, we specifically understand this model of Cheap Ralph Lauren Polo Shirts For Men.

The evil spirit outstanding Moncler Jackets For Women blue tooth earphone outward appearance design is brief and is natural, the size size is Jackets For Men, the earphone localization wireless blue tooth technology, the V2.1+EDR blue tooth, nurtures the divine the vowel wireless transmitting range is 10 meters high, has 360 degree entire hideaway types to nurture the divine the microphone high, as well as built-in handset telephone conversation and music two kind of cut pattern.

Goes out when puts in the pocket the handset, does not need the segment to be possible with ease to listen to music Polo Shirts For Men, moreover the telephone came not to need to take off the earphone to be possible troublesome with ease to answer. The evil spirit outstanding Ralph Lauren Polo Shirts blue tooth earphone built-in high efficiency charge lithium battery, charges for 3.5 hours then to guarantee that 12 hour wireless music enjoys or Moncler Jackets For Men hour free telephone conversation time. On the earphone establishes the control button, operates the convenience to be quick Monster Beats Studio.

angel said...

nice blog...

buy rift account said...

Great! Really enjoyed reading your post.=D

dsrfsdr said...

he answer Beats by Dr. Dre by Monster is yes. French fashion house has confirmed the Brit model as the face of their Boy Chanel handbag collection Monster Beats by Dr. Dre. [Karl Lagerfeld] a crush with this unique, charismatic dude, who's both one and musician, during the photo shoot several months ago, Chanel told WWD Beats by Dr. Dre. This previously unforeseen alliance finally became self-evident Beats by Dr. Dre headphones. Alice Dellal represents the most perfect incarnation off which is unique in regards to the Boy Chanel handbag collection, which strives [to be] not even close conformist notions of femininity Monster Beats by Dr. Dre.
Yep, Dellal is anything but conventional. And even her trademark punk-rock uniform, the petite 24-year-old is actually a drummer while in the band Thrush Metal and will remain found larking for the streets based in london with Pixie Geldof Beats by Dr. Dre 2012. Shes far from blonde bombshell Blake Lively, whos the existing face of Chanels Mademoiselle range, but Lagerfeld is acknowledged for his eclectic taste, previously casting Lily Allen for the Cocoon bag range during the past year. Even greater, Alice's androgyny will work brilliantly with the 'Boy' collection. How refreshing.