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Online Reputation Management for CEO

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  • 1. REPUTATION MANAGEMENT FOR CXO
  • 2. 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?
  • 3. Reputation takes time and dedication to build, but can be lost extremely quickly with devastating results REPUTATION IS FRAGILE
  • 4. Active commitment to reputation management by top management is essential REPUTATION NEEDS INVOLVEMENT
  • 5. “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
  • 6. 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
  • 7. 60 percent of market value is attributable to reputation (Weber Shandwick, 2006) REPUTATION INCREASES MARKET VALUE
  • 8. 1 percent reputation increase results in 3 percent increase of market value (Weber Shandwick, 2006) REPUTATION CREATES MARKET VALUE
  • 9. 2 percent reduction in negative word of mouth boosts sales growth by 1 percent London School of Economics REPUTATION IMPACTS MARKET VALUE
  • 10. 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)
  • 11. 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)
  • 12. 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)
  • 13. investors are prepared to pay a 12-30 percent price premium to a good governance (McKinsey, 2002) GOOD GOVERNANCE ATTRACTS PREMIUM
  • 14. 70 percent of global corporations see increasing interest from mainstream investors in corporate citizenship CORPORATE CITIZENSHIP IS IMPORTANT
  • 15. “CEO reputation represents 65% of corporate reputation.” CEO Capital Research CEO REPUTATION IS IMPORTANT
  • 16. 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
  • 17. “About 60% of all management problems are due to poor or faulty communication.” Peter Drucker COMMUNICATION IS THE KEY
  • 18. 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
  • 19. it’s about bringing your values to life ….communicate what you stand for, to all of your stakeholders! COMMUNICATION IS THE KEY – CXO
  • 20. 40 percent of my time I communicate our company’s credo Jim Burke, Johnson&Johnson CEO REPUTATION FOR CXO IS IMPORTANT
  • 21. Reputation Increases investors` interest and willingness to invest OBJECTIVE: BE PART OF THE “RECOMMENDATION CHAIN” SOCIAL MEDIA FOR CXO REPUTATION MANAGEMENT
  • 22. Reputation Increases customer, consumer, client engagement and participation CHANGE: CREATING A BETTER CUSTOMER EXPERIENCE SOCIAL MEDIA FOR CXO REPUTATION MANAGEMENT
  • 23. Reputation enhances employees` satisfaction and productivity IMPLICATION: SHIFTING GEAR IN SUPPORT, PRODUCT MARKETING, SALES, AND MARKETING SOCIAL MEDIA FOR CXO REPUTATION MANAGEMENT
  • 24. 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
  • 25. reputation Increases customer, consumer, client preference and loyalty GOAL: BUSINESS GROWTH THROUGH ADVOCACY SOCIAL MEDIA FOR CXO REPUTATION MANAGEMENT
  • 26. Reputation helps faster recovery from business crises YOU CAN STILL SHAPE AND PARTICIPATE IN THE DISCUSSION. SOCIAL MEDIA FOR CXO REPUTATION MANAGEMENT
  • 27. 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
  • 28. 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
  • 29. 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)
  • 30. COMMUNICATION IS A PROCESS… IDENTITY IMAGE REPUTATION OBJECTIVE, SUBJECTIVE, JUDGMENT STATIC CATEGORY DYNAMIC CATEGORY Defined specific Establish EXO image in the Engage and establish COMMUNICATION personality traits (part of COMMUNICATION public as the image of the relationship with day-to-day life) of CXO corporation; shareholders and which matches Establish positive, friendly stakeholders. organization goal. and engaging perception Identify visual tools EXPERIENCE reflecting it and communicating with publics
  • 31. 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
  • 32. AN APPROACH TO BEING REAL UNDERSTAND ACT EVOLVE CXO need to understand customers, CXO need to act transparently and To evolve, CXO must always be ready followers and ways to handle them. honestly to learn, teach, and evolve.
  • 33. REPUTATION MANAGEMENT .. REVISION AND COUNTDOWN FIRST 100 DAYS FIRST YEAR TURNING POINT REINVENTION • Quiet period • Opportunity – • People, programs • CEO has prepared • CEO is comfortable in • CEO plans the future interest in new CEO and actions in place the organization for his role • Learns about country, • Delicate balance of • Everything may not the future • He is living the people, action and listening have been resolved • Now it is time to company's vision • programs and • Listens and learns to or changed produce! • Complete team is activities gain the support • Stakeholders see • Everyone coldly collaborating on • Sets the stage • Proactive in progress and feel the evaluates CEO's developing new completing CEO is leading the vision and actions strategies and unfinished company in the right • CEO has generated executing new tactics direction personal and professional capital CEO Capital, A Guide to Building CEO Reputation and Company Success, Dr. Leslie Gaines-Ross, John Wiley & Sons, Inc.
  • 34. WHAT DO CXO WANT FROM CUSTOMERS ? BRAND MONITORING Track, quantify, engage, and analyze conversations (TALK ABOUT THEM ) Discuss CXO around a brand, competitors, and industry Content and engagement spread on parameters like how CONTENT TRACKING far, how fast (SPREAD CONTENT ) Nature of content on parameters like video, widget, article COMMUNITY MANAGEMENT Qualify and analyze social interaction levels , community (ENGAGE DIRECTLY ) health, sentiment, and engagement levels
  • 35. 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)
  • 36. Building A Compelling Personal Brand SOCIAL MEDIA FOR REPUTATION MANAGEMENT Personal YOU Blog
  • 37. 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 Connect Discover Collaborate Publish Blog
  • 38. OTHER COLLATERALS FOR YOUR PERSONAL BRAND MUST HAVE TOOLS FOR PERSONAL BRANDING COMMUNICATE YOUR BRAND: • A portfolio or resume that communicates quality • Use power tools to remodel your brand image. • A strong logo • Be a refined individual. • Personalized stationary • Seek out opportunities and new business. • Business cards • Become an expert. • Voice mail messages • Speak out, and extend the reach of your message. • Web sites and E-mail templates • Take action. • Print marketing materials (brochures, case studies, etc.)
  • 39. Unsolved Bad Lost Bad Experience Issues Reputation Revenue IGNORANCE IS THROWING MONEY AWAY ..
  • 40. THANKS

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