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Businesses are getting increasingly conscious of the power of reputation. It is customers’ perception of a company that drives purchases. It is also what attracts talent and assures partners that they are doing business with somebody they can trust.
So, it’s not just the end users that corporations are looking to impress; they are striving to connect with all stakeholders, which include employees, vendors, the community and the government.
For the public relations (PR) industry, this is a unique opportunity. Its scope is widening from the narrow media relations space to leading the overall brand building and maintainance function. It is now up to the PR industry to evolve from second fiddle to advertising to the leader in the marketing communications ecosystem.
MSLGROUP in India's latest report, co-authored with Eikona PR Measurement, analyses the growing importance of reputation management and its impact on the PR industry.
Some of the points the report makes:
• Reputation is an intangible asset, but its effects are real. It is an invisible, yet powerful influence that can help or hinder a company as it strives to meet its objectives.
• From credit terms to employee retention, reputation has a serious impact.