More than 25% of your company’s value is tied to its reputation.
Executives can no longer wait until a crisis happens to worry about their corporate reputation strategy. Strategic reputation planning could have prevented:
- Chipotle losing three years of earnings because of reputation damage from its ecoli crisis
- Wells Fargo losing $8 billion in value because of reputation losses from its cross-selling scandal
The public no longer trusts you or your company. Stakeholders demand more transparency and government oversight.
That’s why top companies focus on mitigating reputational risks before they cause harm. A corporate reputation strategy helps your company identify these risks, change your operations to prevent damage and develop the right communications if a crisis does occur.
- Are we prepared for the next crisis? Stakeholders expect direct and transparent communication during a crisis to restore trust.
- Are we influencing stakeholders or are they influencing our reputation? Empowered by technology, people look to influencers – not the company itself – in forming opinions about you.
- Do we understand how people feel about us? If you haven’t asked them, you may be shocked by what they’re really saying about you.
- How can we avoid becoming then next Chipotle or Wells Fargo? The major damage caused by these crises could have been prevented if the right risks were addressed.
Why You Need Reputation Strategy
Most corporate executives know their reputational risks, but only half actively monitor them, according to our exclusive research.
When it comes to your reputation, what you can’t see can most definitely hurt you. Without a corporate reputation strategy, your revenue, your productivity and your shareholder value, are at risk.
We make corporate reputation strategy easy and actionable for your company. Our clients say Standing is their trusted advisor to:
- Reveal gaps between their desired reputation and how stakeholders actually feel.
- Develop messaging that influences and aligns their critical stakeholders.
- Identify and prioritize reputational risks they face now and in the future.
- Improve reputation with the stakeholders who matter most to revenue growth.
- Provide support they want – from on-demand advice to building and executing business reputation plans.