Establishing long-term relationships with customers—achieving the long-awaited engagement—and becoming a love mark is the result of the sum of multiple strategic actions and, at the same time, with a high level of awareness, carried out by any company or enterprise to connect, empathize and build trust with customers and build loyalty with the brand they represent.
However, the process is by no means simple. Just as there are people or customers who love our products or services and recommend them to others, in the same way there are their detractors who, with the rise and viralization of social networks, can generate a snowball that can even destroy the reputation of our company and bring it down.
For this reason, the solid foundations in its construction process, the consequence and coherence are invaluable and constitute a great responsibility.
Reputation Economy
The importance of the Reputation Economy is not a recent issue, it was taken into account 11 years ago at the “International Conference on Corporate Reputation” held in May 2011 in Rio de Janeiro. It highlighted the importance of Corporate Reputation in the management and generation of wealth from meeting the needs of our customers, based on the reputation obtained over time from their intellectual heritage.
It can be said that the preference and purchase of consumers of a certain product or service occurs because reputation translates into an economic and transcendent value, which generates that confidence, security and preference of consumers to decide to always buy the same product.
As an example, buying some ” good brand” shoes, applying the above, we would have as references brands positioned in the market , where the public automatically chooses them for the price they project (not cheap) and the intrinsic benefits that they would bring to the user. buying them: quality of the material, comfort, product guarantee and responsibility towards the environment (the main concern of companies regarding environmental impact).
The value for money in the Reputation Economy is directly proportional to the corporate reputation of your company, because it allows you to generate a greater impact in the market by increasing sales, and even increasing the value of the company—not only in matters intangibles—but economically in case of selling it and, thus, obtaining a greater market share.
In the same way, shareholders, when considering investing in a company, must prioritize various factors that impact their financing prospects and brand strength because they will greatly influence subsequent consumer behavior. These include factors of types: environmental, social and corporate governance, known as ESG (environmental, social and governance).
Like corporate reputation, every organization has ESG. Hence the importance of building it in a strengthened way, since measurable positive results will be obtained, while a weak and inconsistent one can have dire consequences.
Now, in the vulnerable context in which we find ourselves globally, achieving the reputation of our companies and measuring them are possible through a communication strategy backed by data and indicators, which in turn act as permanent sensors to make the best decisions. , thus promoting a close positive link between the results and the willingness of the interested parties—companies—to improve the receptivity of their audience and the search to understand how their public thinks and feels about their organization and how they interpret its reputation.
Conclusions
To make the prestige of a company or brand sustainable and resistant in a world governed by the Reputation Economy , it must have significant corporate purposes that will determine whether its stakeholders care more about the trust it generates or about its business itself.
Reputation is a source of value for companies and leaders , therefore, it is important to properly manage its management and measurement process in a responsible manner.
Corporate reputation is related to the importance of the company and its financial performance, because it attracts and retains human talent, and becomes attractive to investors, doing humanized and conscious business.
Editor’s note: Jeannina Valenzuela is a communicator, producer and entrepreneur. Follow her on . The opinions published in this column belong exclusively to the author.
