Marketing

By Elizabeth Boineau

“It takes 20 years to build a reputation and five minutes to ruin it.”

~ Warren Buffett

Now that we have a new year upon us, it seems like a good time to consider those things that matter and endure: life, family, love, core values and reputation—your corporate reputation that is.

Some things are temporal and some things lasting. Your company’s reputation falls into the latter category, so there is no time like the present to consider how you are perceived and how you will be recalled.

How much does corporate reputation influence your brand image, and what attributes are critical to ensuring both are strong?

The Annual Reputation Quotient 2005 study conducted by Harris Interactive offers a measurement of the most visible companies in the country.

The RQ, which ranks companies on the strength of their reputation, reveals that the top three brands in the country are Johnson & Johnson at 80.56, Coca Cola at 79.69 and Google at 79.52.

Though reputation and brand identity may be intangible assets on the balance sheet, their impact on the bottom line is tangible.

A solid corporate reputation and formidable brand identity are increasingly essential to a company’s success, in part due to today’s more skeptical audience following corporate scandals the likes of Enron and WorldCom.

The commitment to run an honest and forthright operation is made and reinforced by top management and carried out by the entire team.

Shaping and managing public perception, based on that foundation of integrity, is primarily the job of the marketing/public relations pros, supported by management and every person who encounters customers, prospects, shareholders, vendors and the like.

With that in mind, it is worth looking at the six attributes the Harris poll sought to measure in its valuation of corporate reputation and the impact on the way the brand is perceived.

1. Vision and leadership. Are you able to think strategically, lead with affirmation, steer with agility and never lose sight of the goal?

2. Social responsibility. It is important to be socially conscious and a good corporate citizen. Socially responsible companies are thoughtful and generous about their resources, both with time and money, as much as possible.

It enhances the goodwill others feel toward you and increases the chance they both select and bond with your brand as a result.

3. Emotional appeal. Creating an experience that your customers will remember, involving them and interacting with them at an emotional level are necessary in today’s rapid-fire world where your audience is bombarded by one-way, competing and often dissonant messages.

Rise above it all and watch them fall in love with your brand.

4. Products and services. Shun compromise, and always aim for the highest quality product/service. Then strive to deliver it ahead of time and under budget whenever possible.

Your commitment to a high standard will result in brand loyalty and more business.

5. Workplace environment. The culture of an organization is set by leadership and carried out by the team. An inspiring and supportive environment that rewards hard work and team spirit will build your reputation with both internal and external audiences.

6. Financial performance. Sound fiscal management is a no-compromise tenet of strong brands.

If there are issues or challenges to the financial picture, they are addressed honestly and repaired quickly.

Other notable companies who largely possess these attributes and who were ranked in the top 10 by the Harris poll include UPS, 3M Co., Sony, Microsoft, General Mills, FedEx and Intel.

All 25 who made the Harris list possess integrity and credibility, recognize the value of protecting and building their reputation, and count on the communications pros to help them do that.

We can all learn from the big, powerful brands and resolve to work on our corporate reputation every day and to be vigilant about managing it with excellence.

Leading brands earned their reputation yesterday and today and again tomorrow, and they offer us all lessons for a brand new year.

Elizabeth L. Boineau runs E. Boineau & Co., a Charleston-based strategic marketing communications and public relations firm. E-mail her at eboineau@eboineauandco.com.

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