Topic: Reputation

Reputation tips and tricks

How Social Media Affects Online Reputation Management 0

Social media plays a huge role in online reputation management. The many platforms available, their popularity in search results, and how quickly and easily they can spread information all make social media powerful tool in your reputation management arsenal.

There are 4 major ways social media can affect your reputation management online, and the consequences can be either positive or negative. That’s why it’s crucial to have a strong, sound strategy in place for what types of content you’ll post, when you’ll be active, and how you will respond and interact with followers.

Build, Change, or Solidify Your Reputation

Everything you say and do on social media–including the major social platforms as well as blogs, forums, review sites, and other interactive media online–has the power to build a new reputation, adapt an existing image, and solidify your current profile. What you like, what you share, the comments you make, the content you create, the causes you support, the information you give–all of these affect how followers perceive you.

This is where a sound strategy is so important. Without a plan to follow, a seemingly innocuous comment or a small mistake can snowball into a big reputation problem.

Social media has such a powerful effect on your reputation management because your actions happen in real time. Where press releases and traditional management tactics may take days or weeks to make a difference, what you say or do online can go viral in a matter of hours.

In addition to creating a good strategy, use social media to your reputation’s advantage with these best practices:

 

  • Claim your name on all the major social platforms

  • Use the social media most relevant to you and your target audience

  • Be consistently active

  • Use a variety of social channels, such as forums, blogs, multimedia platforms, and the big 4 (Facebook, Twitter, LinkedIn, Google+)

Control How You Appear in Search

On top of affecting your reputation itself, social media is an important component of managing your reputation because it tends to appear high in search results. When your social profiles and content appear on the first page of a search, less desirable content gets pushed down, meaning your audience is less likely to see bad reviews, detractors’ comments, and other negative content.

So not only does your social strategy build or change your reputation, it also affects how much of the first page of Google you own.

The good news is, following the best practices listed above is a pretty easy way to get more real estate in search engine results. The bad news is, any negative consequences of your actions on social media will also appear highly in search results.

Rule of thumb: if you don’t want it to appear on search, don’t put it online at all.

Monitor What Others Say About You

Although there are too many social channels to effectively keep track of everything everyone thinks about you, the real-time publishing nature of social media helps you see a fairly accurate representation of how others perceive you at any given time. And knowing what people think of you is the first step to managing your online reputation.

How do you know what people are saying and thinking about you?

 

  • Set up Google Alerts for your name, your company name, and important keywords

  • Use Technorati to discover what bloggers are posting about you

  • Sign up for tools like TweetDeck, SocialMention, or Trackur to find and save keyword searches, hashtag searches, multimedia, and social conversations

Respond to What Others Say About You

With monitoring how others perceive you comes the opportunity to respond. Strategy is important here, too, because responding to a detractor’s comment or bad review in the heat of the moment is often worse than letting the negative content sit for a few days.

At the same time, staying abreast of your followers’ and customers’ real-time perceptions and comments can help you avoid crises, take advantage of newsjacking, provide exceptional support, and continue building your reputation.

Responding to positive mentions of your brand–such as retweets of your content, good reviews, and thank yous–is always a good move. It shows you listen to and value your audience.

Done right, responding to negative brand mentions can help you resolve problems, improve your offering, and correct misinformation. When you respond calmly and professionally, even negative social mentions can support your reputation for listening to and valuing your audience.

It’s impossible to ignore how much social media affects your online reputation and how you manage it. The trick is to craft and follow an effective social strategy.

 


Source: Big Blue Robot

Rebuilding Wall Street’s Reputation: 7 Key Factors to Focus On 0

With the national economy taking its time to recover and plenty of recent financial scandals, Wall Street’s reputation has tanked. If Wall Street, banks, and other financial institutions want to rebuild a solid reputation, they’ll need to focus on the 7 distinct perceptions consumers have about them. By addressing each of these areas, Wall Street bankers and stockbrokers can tackle the problem of a poor reputation from several angles.

The 7 key factors Wall Street must address to rebuild reputation are:

  • citizenship

  • financial performance

  • governance

  • innovation

  • leadership

  • products and services

  • workplace environment

Citizenship

Consumers expect companies they do business with and those who hold a lot of power to show good corporate citizenship and social responsibility. Citizenship in this sense is the idea that businesses like those on Wall Street must be actively compliant with the law, monitor and be accountable for their own actions, and have a positive impact on the environment, employees, customers, stakeholders, and the public at large.

Financial Performance

No one wants to buy from, work for, or invest in a company that isn’t financially stable and making a steady profit. Scandals, embezzlement, debt, gambling, poor investments, sour mergers or acquisitions, and other cash-flow problems all reflect a negative financial performance.

Governance

How a company is run can have a big impact on the company’s reputation. Consumers expect a company to be run efficiently, fairly, and responsibly, with strong values and appropriate policies.

Implementing a better system to punish employees involved in scandals and reward those who live up to the company’s values and mission would go a long way to rebuilding Wall Street’s reputation. So would making processes more efficient, policies more fair, and values and mission statements more in line with the other 6 factors.

Innovation

The most successful companies–which, coincidentally, usually have good reputations–evolve and adapt. They are not afraid to update old products and policies, create new ones to match the times, and otherwise innovate in any way they can to perform better and please stakeholders.

Wall Street has stagnated by doing the same things the same way for years. It’s time for them to get creative and change how they play the game to regain trust and rebuild a strong reputation.

Leadership

Thanks to the internet, consumers expect companies to have visible leaders who are experts in their industries and take a stand on important issues of the day. Wall Street executives should strive to be an influence for good and become thought leaders in smart investing, ethical banking and financial policies, and other relevant topics.

Products & Services

Businesses live or die by the strength and value of their offerings. Wall Street institutions must make sure their products and services actually help customers, solve problems, and are appropriately priced.

Workplace Environment

Although this factor mainly affects employees, it makes a difference in a business’s reputation. Consumers expect businesses they frequent to treat their employees well, and an employee’s assessment of the company is more powerful than a random customer.

Rebuilding Wall Street’s reputation will take a lot of work, but these 7 key factors provide the much-needed guidance to get them on the right track.

 


Source: Big Blue Robot

How Executive Reputation Management Builds the Company and Your Personal Brand 0

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:

  • industry expertise

  • high-quality products

  • 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.

How the Banking Industry can Improve Their Online Reputation 0

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