Posts By: Curator
In its Quote of the Day feature, legal blog AbovetheLaw.com quotes attorney Marc Randazza in his recent success in arguing for cameras in the courtroom against opposing counsel, Harvard Law Professor Alan Dershowitz. Randazza said:
Without access to information, there is no free press. While it was a privilege to argue against Mr. Dershowitz, it was more of an honor to secure a First Amendment win for the press and public.
Venture Beat discusses the latest threatened lawsuit filings against revenge porn site IsAnybodyDown.com. As reported in the article, attorney Marc Randazza has been building a case against the website. Randazza says he’s not a savior, but:
I’m just a lawyer doing my job.
If you are a chief executive in your company, managing your online reputation is just as good for your company as it is for your own image. That’s because as a visible leader in the business, your reputation and ideas support and reflect the company’s online profile in addition to building your personal brand. There are 4 main ways executive reputation management can help build the company’s good reputation. They’re even more important–and effective–if you’re starting a small business or creating a startup.
Hire Better Talent
Good executive and company reputations work together to help you hire more skilled employees. Both company and executive reputations attract prospective employees by giving them a good indication of:
the workplace environment
business values, mission, and culture
recognized and rewarded behaviors
More importantly, if executives have reputations as industry experts and thought leaders, the business naturally attracts the best employees. They are dedicated to the industry, tend to have more talent, are diligent and hard working, and want to learn from the big names in their field.
Close More Deals
Whether you sell a product or service, strong executive reputations help the company generate more leads and sales. When executives are known for expertise, leadership, and quality, those attributes build and support the reputation of the company overall. With those virtues, the company’s offerings and customer support are more likely to be top-notch, which attracts more customers and clients.
Strong executive and company reputations can also help you
justify charging more for your products and services
negotiate better mergers and acquisitions
resolve employee or customer problems more smoothly
Attract Better Customers and Investors
On top of getting more leads, sales, and revenue, positive executive reputations help the company attract a higher caliber of customers and investors. With strong executive reputation management, business leaders can effectively share the best qualities of their personal reputations with the company reputation, attracting customers and investors who value those qualities. Some of the best personal qualities that attract better customers and investors include:
efficient and fair governance
social responsibility policies
supporting charities or important causes
And better customers and investors mean more funding and more revenue to grow the business.
Get Better Media Coverage
People connect with other people, not businesses. So an executive’s reputation is ultimately more important in getting media coverage, while more good press builds up both the company profile and the executive’s personal brand. Executives who maintain a positive online reputation attract more reporters and better news stories, and have an easier time getting their press releases and news published.
Executives who become thought leaders take it one step further by increasing the visibility of the company. By regularly publishing expert content with the business name as part of their byline, these executives build the exposure and expertise of their company and their own brand at the same time.
Source: Big Blue Robot
Banks are notorious for having bad reputations, and things have only gotten worse during the recent economic downturn and financial crises. Knowing which factors influence a poor reputation and some specific steps to take can help banks large and small rebuild their good reputations.
A 2012 Study by American Banker concluded that some of the largest banks: Wells Fargo, Citibank and Bank of America have the poorest reputations.
4 Reasons Contributing to Banks’ Poor Reputations
1. Fee Increases During Hard Times
According to CFO.com, banking profitability is down from from about 26% in past years to about 14%. While fee increases support bank profits, in the context of a larger economic downturn they have a strong negative effect on reputation. Both real and proposed new fees and fee increases create a reputational backlash.
2. Lack of Direct Interaction & Communication
According to AmericanBanker.com, direct interaction and exposure to the company’s messaging (including “advertising, marketing, public relations activities or social responsibility efforts”) have huge impacts on a bank’s reputation. A lack of either or both has a large detrimental effect on reputation.
3. Relative Value Mindset
Banks often see reputation as just another way to beat competitors. While reputation can be a major differentiator, building a good one is not a race to the finish line.
4. Recent Scandals
Banks seem to have more scandals than most other businesses. All scandals adversely affect all banks. They prompt customers and investors to pay more attention to bank behavior so even the littlest problem can become a major concern. If scandals lead to criminal indictments against banks, the net effect is even worse because no one wants to do business with a criminal.
5 Ways Banks Can Rebuild a Good Reputation
First, improve communication both externally and internally.
External communication includes:
- positive brand messaging
- asking for and responding to feedback from customers and investors
- showing that your bank is a responsible, trustworthy lender in tough times
Internal communication means:
- making it clear to employees what kinds of behavior are rewarded or unacceptable
- talking about the company’s strategy, mission, and values
- accepting and responding to feedback from employees
Second, focus on consistency.
If you’re communicating one thing but doing the opposite, your reputation will align with your actions. Compensation and reward structures must match your internal communications to employees. Acquisitions, lending policies, customer service, and other actions must align with your external messaging to customers and investors.
Third, work on existing relationships.
Because bank profits are decreasing and other industries are moving into the banking sector, banks cannot afford high customer churn rates anymore. That means it’s important to work on retaining customers and improving their experience and direct interaction with you.
Fourth, live up to expectations.
According to Anthony Johndrow of Reputation Institute (source), customers expect banks “to engage in citizenship, good governance and innovation, along with having solid financial performance and trustworthy products and services.” A bank’s ability to meet those 5 expectations will be reflected in its general reputation.
Fifth, use social media more aggressively.
Because social media promotes both communication and direct interaction, it can be a more powerful positive influence on reputation than other sources. Use it more aggressively to help customers and provide accountability and transparency.
Source: Big Blue Robot
According to eMarketer, the number of people who research and book a trip online increases dramatically every year, and the trend will only continue. That’s why it is so important for hoteliers, agencies, and other travel marketers to take control of their reputations online.
Start your online reputation management off on the right track with these ideas.
Drive prospects to owned media
The eMarketer report indicates that branded travel websites are the second most common source travelers use when researching and booking travel online. That means your branded website, blog, and other owned media are the most important resources you have to help customers and influence a positive reputation.
Use a strong, comprehensive search engine optimization and paid search strategy to drive traffic to the media you own and control. Publish lots of unique, useful content on your website, social channels, and other owned media to help them appear high in search results.
Incorporate ads and reviews
Paid media such as search ads, Facebook ads, and promoted tweets can be the catalyst that introduces travel researchers to your brand and inspires engagement. Use them in conjunction with strong SEO and reviews.
Earned media, especially reviews and positive social mentions, increases your credibility and is the online equivalent of word-of-mouth marketing, making it very powerful. Use the following ideas to generate positive reviews and mentions:
- ask for reviews on social media
- host a contest or giveaway with the prize going to a randomly selected reviewer
- use email to encourage customers to talk about their experience
Use social media aggressively
According to iProspect, the very first thing travel brands should do to control their reputations is claim brand presence on social platforms. The biggest social media–Facebook, Twitter, Google+, TripAdvisor, and various listing sites–are the perfect channels for generating powerful reviews and recommendations and spreading awareness of your brand.
Lots of updated content and the judicious use of ads on all these platforms can make a huge difference to both your bottom line and how you are perceived.
Make your media more visually appealing
Like the food and real estate industries, travel depends on visual elements to perform well. Using beautiful, high-resolution videos, photos, and other multimedia impacts your reputation in a few ways:
1 If you invest the time and money to create appealing visual media, your services are more likely to be high quality as well.
2 Great multimedia are more likely to be shared, increasing your brand’s exposure and creating indirect recommendations.
3 Visual media are easy to publish across many different platforms (e.g., YouTube, Vimeo, Pinterest, Flickr, etc.), making them more likely to show up in a video or image search.
Having an appealing and easy-to-use website makes a big difference, too. It encourages reviews, makes it easy to research and book a trip, and is more likely to show up in search results thanks to better navigation and user experience.
Focus on your customers
Your online reputation directly reflects your reputation in general. Take ownership of your reputation in all its facets by making customer experience as remarkable as possible.
Source: Big Blue Robot