- Created on Thursday, 01 November 2012 10:21
- Published Date
By Gordon Cook
Reputation has become the most important resource brands have in the new, complex, perception-driven marketing landscape. Reputation is, really, everything.After all, it is reputation that excites people to want to work for a company and that keeps customers loyal.
There are a few things brands can do to improve their reputation in the community.
But first, we’ve seen what happens when companies cultivate, for whatever reason, a bad reputation. In the US and Europe people have completely lost trust in banking institutions and the Occupy Movement, thousands of protestors around the world amassing against the social and economic inequality they view to be inherent in modern day power relations in society, shows that there’s a growing distrust in the power corporates yield.
Reputation of a business is gained by the attitude of staff towards the business and brand, and of course the reputation is driven or destroyed by the customer perception of the brand and the product offering.
Thomas Jefferson once said of trust: “When a man assumes a public trust he should consider himself a public property”. Trust and reputation go hand in hand, and this quote definitely applies to companies.
Corporates are now left with the daunting task of regaining trust and legitimacy in the community. That can be done, but better to maintain a good reputation than rebuild one in tatters.
Marketing, of course, has the role of communicating the distinctiveness of a brand, communicating what makes that brand compelling, but what really builds reputation is behaviour; the behaviour of staff.
One could say that is an HR or management function but marketing is very likely becoming conscious of what sort of behaviour is most applicable to the brand. So there is a great shift in terms of how marketing money should be spent: on generic, big bang campaigns or on campaigns that change and align service behaviour and the brand.
The other way to build reputation is to shift marketing thinking away from the old thinking about what markets are; moving away from marketing thinking that is focused on only engaging, finding and identifying customers, before trying to build loyalty with them. Instead, thinking should become more human centric. Markets and customers are people. Thus, brands should seek, through their services and products, to make a difference to people and in the societies and communities in which they live.
Creating shared value is just about the best way to gain trust and build reputation.
There’s so much distrust at the moment: people don’t trust business, they don’t trust governments, they don’t trust advertising. Trust is a major issue. And so the entire business community has to regain, win back, that trust.
Businesses have to gain the trust of the employees by engaging them, listening to their grievances and ideas, making them feel that business decisions are in their interests. The first step is getting staff to trust us. Often, when asked whether they trust their companies, the answers from staff are not so great.
But once your staff trusts you, one should ask whether the community trust you. Do we have legitimacy in the community?
Leaders and managers have to, as a primary imperative, gain trust.
Therefore, trust is going to increasingly be on the agenda of brand and marketing programmes; and with that comes authentic, honest communication; because the truth is, there’s a lot of dishonesty out there.
By Gordon Cook - director of Strategic Brand Marketing for Thinkers at the UCT Graduate School of Business and the Navigator of Vega School of Brand Management.
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