"What people say behind your back is your standing in the community."Edgar Watson Howe
Reputation – what is it?
1. The beliefs or opinions that are generally held about someone or something
2. A widespread belief that someone or something has a particular habit or characteristic
What are the characteristics or habits that you or your company are known for?
Reputation – what is it?
• Reputation is the reason why people and organisations do business with you
• It influences your ability to attract and retain employees, investors and strategic partners
• It affects your relationship with regulatory bodies, pressure groups, the media and local community
• Reputation is ultimately a measure of trust
Value of reputation:numbers speak louder than words
RBS had to set aside £310m to repair its reputation after the IT meltdown and two mis-selling scandals of 2012
The Independent, 3 August 2012
65% of chief communications officers see improvement in corporate reputation as their highest priority
PRNewswire, 26 June 2012
Around £700mln was wiped off G4S value after the London 2012 Olympics fiasco
This is Money, 17 July 2012
60% of market value is attributable to a company’s reputation
Weber Shandwick, 18 January 2012
Your reputation depends on your stakeholders
While the reputation of an organisation is influenced by its:
• performance
• policies
• people
it is ultimately stakeholders who decide what the reputation of the organisation actually is.
Stakeholders defined
• A stakeholder is anyone affected by or having an influence over the organisation
• Historically, companies tended to prioritise two groups: customers and shareholders but nowadays the stakeholder landscape is much more complex
Do you know who your key
stakeholders are?
Your reputation
How much do you know about:• What your stakeholders say, what they like and
what they don’t like about you?• How they perceive you?• Their relative importance to your business?
Do you understand your stakeholders’ needs, wants and why they choose your product over your competitor's?
VS
Have you identified the most effective way to communicate with them?
Stakeholder mapping helps you to:• Identify and prioritise key stakeholders• Understand stakeholders’ relative importance and
influence over your business • Understand the beliefs and objectives which motivate
stakeholder views and behaviour • Reveal how your stakeholders currently perceive you • Identify where they source their information and how
they’d like to be communicated with• Tailor your communications depending on the influence
of stakeholders• Create the reputation you desire and deserve
Stakeholder mapping adds value by:
• Uncovering the real attitudes, perceptions and pre-conceptions of your stakeholders
• Reflecting a reality which may be very different to the conventional wisdom (this may be challenging, but it’s always valuable)
• Revealing a strategy to drive your communication forward
Why understanding stakeholders underpins successful communication - video
Stakeholder mapping in practice:
“We appointed Insignia Communications to conduct a stakeholder audit to provide deep insights into stakeholders which would help us build a strong reputation and relationships.
Insignia’s contribution went beyond the information provided by the research: they added insight and analysis to zero in on the key reputation and communication challenges facing the organisation – and recommendations as to how we should address them.”
Diana Thomas, Malaria Consortium
Contact Details
Insignia CommunicationsEmail: [email protected]: www.insigniacomms.com Phone: +44 (0)121 382 5304
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