Reputation Management For Cxo

REPUTATION MANAGEMENT FOR CXO

If you lose money for the firm, I will be very understanding. If you lose reputation for the firm, I will be ruthless. Warren Buffet – Renowned businessman and philanthropist

IS REPUTATION IMPORTANT?

Reputation takes time and dedication to build, but can be lost extremely quickly with devastating results

REPUTATION IS FRAGILE

Active commitment to reputation management by top management is essential

REPUTATION NEEDS INVOLVEMENT

“In today’s world, where ideas are increasingly displacing the physical in the production of economic value, competition for REPUTATION becomes a significant driving force, propelling our economy forward.” Alan Greenspan, former chairman, Federal Reserve

REPUTATION CREATES ECONOMIC VALUE

company can lose in excess of 30 percent of its share value as a result of a highly publicized crisis (Weber Shandwick, 2007)

REPUTATION IMPACTS SHARE VALUE

60 percent of market value is attributable to reputation (Weber Shandwick, 2006)

REPUTATION INCREASES MARKET VALUE

1 percent reputation increase results in 3 percent increase of market value (Weber Shandwick, 2006)

REPUTATION CREATES MARKET VALUE

2 percent reduction in negative word of mouth boosts sales growth by 1 percent London School of Economics

REPUTATION IMPACTS MARKET VALUE

93 percent of senior executives believe that customers consider corporate reputation important or extremely important

REPUTATION IS IMPORTANT – CUSTOMERS

Hill and Knowlton’s Corporate Reputation Watch 2004 Survey: Some key findings (www.hillandknowlton.com)

79 percent of senior executives believe that investors and lenders consider Corporate Reputation either important or very important

REPUTATION IS IMPORTANT – INVESTORS

Hill and Knowlton’s Corporate Reputation Watch 2004 Survey: Some key findings (www.hillandknowlton.com)

40 percent of senior executives believed that strong corporate governance is a critical factor that potential investors consider before committing

CORPORATE GOVERNANCE IS IMPORTANT

Hill and Knowlton’s Corporate Reputation Watch 2004 Survey: Some key findings (www.hillandknowlton.com)

investors are prepared to pay a 12-30 percent price premium to a good governance (McKinsey, 2002)

GOOD GOVERNANCE ATTRACTS PREMIUM

70 percent of global corporations see increasing interest from mainstream investors in corporate citizenship

CORPORATE CITIZENSHIP IS IMPORTANT

“CEO reputation represents 65% of corporate reputation.” CEO Capital Research

CEO REPUTATION IS IMPORTANT

9% of customers are lured away by competitors, but as many as 68% are lost by employees’ indifference. Journal of Marketing

EMPLOYEE INDIFFERENCE CAN KILL BRAND

“About 60% of all management problems are due to poor or faulty communication.” Peter Drucker

COMMUNICATION IS THE KEY

73% of surveyed MBA students said that corporate reputation is either an "extremely" or "very" important factor when deciding where they will work Hill and Knowlton, 2007

REPUTATION FOR EMPLOYEE

it’s about bringing your values to life ….communicate what you stand for, to all of your stakeholders!

COMMUNICATION IS THE KEY – CXO

40 percent of my time I communicate our company’s credo Jim Burke, Johnson&Johnson CEO

REPUTATION FOR CXO IS IMPORTANT

Reputation Increases investors` interest and willingness to invest

OBJECTIVE: BE PART OF THE “RECOMMENDATION CHAIN”

SOCIAL MEDIA FOR CXO REPUTATION MANAGEMENT

Reputation Increases customer, consumer, client engagement and participation

CHANGE: CREATING A BETTER CUSTOMER EXPERIENCE

SOCIAL MEDIA FOR CXO REPUTATION MANAGEMENT

Reputation enhances employees` satisfaction and productivity

IMPLICATION: SHIFTING GEAR IN SUPPORT, PRODUCT MARKETING, SALES, AND MARKETING

SOCIAL MEDIA FOR CXO REPUTATION MANAGEMENT

Reputation Improves understanding and support among opinion leaders

REALIZATION: SOCIAL MEDIA IS A CROSS FUNCTIONAL BUSINESS INITIATIVE – NOT A MARKETING CAMPAIGN

SOCIAL MEDIA FOR CXO REPUTATION MANAGEMENT

reputation Increases customer, consumer, client preference and loyalty

GOAL: BUSINESS GROWTH THROUGH ADVOCACY

SOCIAL MEDIA FOR CXO REPUTATION MANAGEMENT

Reputation helps faster recovery from business crises

YOU CAN STILL SHAPE AND PARTICIPATE IN THE DISCUSSION.

SOCIAL MEDIA FOR CXO REPUTATION MANAGEMENT

In a transparent world, your reputation is more than the difference between success and failure

AFFECTS THE BOTTOM LINE

SOCIAL MEDIA FOR CXO REPUTATION MANAGEMENT

Reputation management is not about keeping out of the media............ it is about having a professional media strategy and managing it effectively through a media relationship programme

PLANNING COMMUNICATION

C’S OF SUCCESSFUL CXO BRANDING

Note: This presentation is based on the E-Book, “Three Steps to a Winning Personal Brand” by William Arruda of Reach Communications. (www.reachcc.com)

COMMUNICATION IS A PROCESS… IDENTITY

IMAGE

OBJECTIVE, STATIC CATEGORY Defined specific personality traits (part of day-to-day life) of CXO which matches organization goal. Identify visual tools reflecting it and communicating with publics

REPUTATION

SUBJECTIVE, DYNAMIC CATEGORY COMMUNICATION

Establish EXO image in the public as the image of the corporation; Establish positive, friendly and engaging perception

JUDGMENT COMMUNICATION

EXPERIENCE

Engage and establish relationship with shareholders and stakeholders.

every intelligent person (and quite a few unintelligent ones) will have a media platform where they share what they care about with the world. -- SETH GODIN

REPUTATION A CHANGING REALITY Who you are

What you know

Who you know

Who knows you

AN APPROACH TO BEING REAL UNDERSTAND CXO need to understand customers, followers and ways to handle them.

ACT CXO need to act transparently and honestly

EVOLVE To evolve, CXO must always be ready to learn, teach, and evolve.

REPUTATION MANAGEMENT .. COUNTDOWN • Quiet period • CEO plans the future • Learns about country, people, • programs and activities • Sets the stage

FIRST 100 DAYS • Opportunity – interest in new CEO • Delicate balance of action and listening • Listens and learns to gain the support • Proactive in completing unfinished

FIRST YEAR • People, programs and actions in place • Everything may not have been resolved or changed • Stakeholders see progress and feel the CEO is leading the company in the right direction

TURNING POINT • CEO has prepared the organization for the future • Now it is time to produce! • Everyone coldly evaluates CEO's vision and actions • CEO has generated personal and professional capital

REVISION AND REINVENTION • CEO is comfortable in his role • He is living the company's vision • Complete team is collaborating on developing new strategies and executing new tactics

CEO Capital, A Guide to Building CEO Reputation and Company Success, Dr. Leslie Gaines-Ross, John Wiley & Sons, Inc.

WHAT DO CXO WANT FROM CUSTOMERS ? BRAND MONITORING (TALK ABOUT THEM )

CONTENT TRACKING (SPREAD CONTENT )

COMMUNITY MANAGEMENT (ENGAGE DIRECTLY )

Track, quantify, engage, and analyze conversations Discuss CXO around a brand, competitors, and industry Content and engagement spread on parameters like how far, how fast Nature of content on parameters like video, widget, article Qualify and analyze social interaction levels , community health, sentiment, and engagement levels

Your personal brand is the powerful, clear, positive idea that comes to mind whenever other people think of you. It’s what you stand for – the values, abilities and actions that others associate with you. It’s a professional alter ego designed for the purpose of influencing how others perceive you, and turning that perception into opportunity. Peter Montoya Personal Branding Guru

MANAGING YOUR PERSONAL BRAND Note: This presentation is based on the E-Book, “Three Steps to a Winning Personal Brand” by William Arruda of Reach Communications. (www.reachcc.com)

Building A Compelling Personal Brand

SOCIAL MEDIA FOR REPUTATION MANAGEMENT

Personal Blog

YOU

Your Personal Brand is about understanding what is truly unique about you - your strengths, skills, values, and passions – and using those attributes to differentiate yourself

COMMUNICATING YOUR PERSONAL BRAND

Personal Blog

Connect

Discover

Collaborate

Publish

OTHER COLLATERALS FOR YOUR PERSONAL BRAND MUST HAVE TOOLS FOR PERSONAL BRANDING • A portfolio or resume that communicates quality • A strong logo • Personalized stationary • Business cards • Voice mail messages • Web sites and E-mail templates • Print marketing materials (brochures, case studies, etc.)

COMMUNICATE YOUR BRAND: • Use power tools to remodel your brand image. • Be a refined individual. • Seek out opportunities and new business. • Become an expert. • Speak out, and extend the reach of your message. • Take action.

Bad Experience

Unsolved Issues

Bad Reputation

Lost Revenue

IGNORANCE IS THROWING MONEY AWAY ..

THANKS