Convergence of Reputation and Everything
Convergence of Reputation and Everything
President, Corporate Reputation & Strategy
This post originally appeared on LinkedIn as part of the Corporate Reputation Playbook Newsletter. Join the conversation here.
In an era where business, culture, and public opinion are more interconnected than ever, reputation has become the defining currency for companies across every industry. Over the coming weeks, I’ll explore the forces shaping how reputation is built, measured, and sustained in this evolving landscape. From the convergence of reputation with brand identity to the growing influence of CEOs and online reputation influencers, this series will examine the trends driving success—and risk—in today’s high-stakes environment. In this first installment, we explore why reputation is no longer a complement to brand strategy; it is the strategy.
Your Reputation is Your Brand, Your Brand is Your Reputation
Communicators and marketers have historically viewed the world through two lenses: brand and reputation. Today, there is only one lens: reputation. Because it has converged with everything. Companies with strong reputations have better business performance, higher stock prices, premium pricing and the best employees. Consumers voting with their values intrinsically view reputation as the mechanism for understanding a brand. Actively care for your reputation, and everything else follows.
Reputation as Cultural Currency
Companies, their leaders and their culture are permeating and driving pop culture. We are more interested in what happens “behind the boardroom door” than ever before. From major motion pictures and documentary films recounting the rise of some of America’s biggest and most successful companies to speculation on the strategy behind everything from product development to marketing, companies, their leader and their stories are more relevant than ever. And unlike celebrity engagements, trend driven stunts and other “tricks” of the PR trade, reputational relevance is enduring beyond a news cycle or two – no need to “go viral” to have an impact. If you aren’t telling the stories behind and about your company, you are missing a chance to build relevance that will translate across your stakeholder spectrum.
CEOs as Reputation Catalysts
It is a human truth that we trust people, not companies. More than ever, the CEO is viewed as the human representation of a company – and as such their reputation as a leader directly impacts the company’s reputation, for good or for bad. We’ve seen millions of dollars in value wiped out by the missteps, misstatements or mis-tweets of a CEO, and that will continue to be the case. On the flip side, CEOs who are great storytellers and advocates for their companies can have a meaningful positive impact on the reputation – and value – of an organization. Young workers (18-35) today will check a CEO’s social profiles over a company website when considering whether to apply for or accept a job.
Reputation Influencers Rising
The concept of influencers, which some would argue originated in the reputation-building sphere long before the days of social media, has come full circle. Today’s reputation influencers – also called KOL’s, opinion elites and even simply key stakeholders – are living and moving online, sharing their views about corporate culture, company strategy and leadership. They may inhabit traditional roles like academics, policymakers or NGO leaders, or they may be online conveners of conversation who are subject matter experts on things ranging from the economy, trade or the environment. But they wield their influence from their keyboards. These influencers can be engaged and activated for storytelling in much the same way as brand influencers with one key distinction – the authenticity is baked in, because they are more than just a “social post for hire.” They won’t just be on TikTok – and you will certainly find them on LinkedIn. The best influencer teams will understand these distinctions and know how to build relationships on behalf of their clients, rather than transactional partnerships.