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REPUTATION RISK
MANAGEMENT
AARHUS, DENMARK, 2015
WHAT IS YOUR COMPANY REPUTATION WORTH?
►ON AVERAGE MORE THAN 25 PERCENT OF A
COMPANY’S MARKET VALUE IS DIRECTLY
ATTRIBUTAB...
ENTERPRISE RISK MANAGEMENT AND
RISK 2 REPUTATION PROGRAM PROVIDES GREATER
CERTAINTY ON STRATEGIC EXECUTION
ERM provides
In...
CONSOLIDATED PERSPECTIVE WHEN TACKLING
REPUTATION PROGRAMS
JUST HOW IMPORTANT IS THE “OUTSIDE: IN”
PERSPECTIVE?
Reputation
in ruins
Strategy
unachievable
Clients
don‘t buy Agencies
...
Social Legitimacy:
► based on the norms of the community (legal,
social and cultural; formal and informal) =the
local ‘rul...
BRAND RESILIENCE & REPUTATION RISK MANAGEMENT
7
Company/
Brand
Promise
Company/
Resilient Company
(High Reputation) Vulner...
BUILD REPUTATION - HARRIS FOMBRUN MODEL*
Emotional Appeal
• Likeability
• Trust
• Respect
Products and Services
• High qua...
REPUTATION RESILIENCE INDEX
ESTABLISH CAUSES FOR FLUCTUATIONS
+5
+4
+3
+2
+1
0
-1
-2
-3
-4
-5
JAN FEB MAR APR MAY JUN JUL ...
HIGH-LEVEL FRAMEWORK:
REPUTATION RISK MANAGEMENT
BE PREPARED
LISTEN
MONITOR
TAKE ACTION
INVOLVE
Risk Management
Stakeholde...
HOW TO TACKLE THE
COMMON INFORMATION PICTURE
1. FIELD OF ACTIVITY & COMPANY STRATEGY
(FMCG, TELECOM, CARS, VS.
ENERGY, UTI...
1. FIELD OF ACTIVITY & COMPANY STRATEGY
2. SIZE OF THE COMPANY
(NO. OF EMPLOYEES, BUSINESS DIVISIONS,
ROLES & PROCEDURES)
...
1. FIELD OF ACTIVITY & COMPANY STRATEGY
2. SIZE OF THE COMPANY
3. SIZE OF THE AUDIENCES
(SIZE & CATEGORIES OF STAKEHOLDERS...
SYNERGIES SET-UP:
EXTERNAL EXPRESSION
Corporate branding
►MKT
(incl. BDs)
►CSR ►Press
►IR
►P. Affairs
►Corp. Affairs
►HR
►...
WHAT DOES IT MEAN FOR DIGITAL
ON THE BUILD REPUTATION SIDE:
 ONE COMMON INFORMATION PICTURE
FOR LISTENING CHANNELS (INTEG...
KEYWORDS OF THE PRESENTATION
1
6
OUTSIDE IN / INSIDE OUT PERSPECTIVES
DEFEND / BUILD REPUTATION
E(W)RM / RISK 2 REPUTATION...
The Social Phenomenon
Rediscover Romania 2011
Background:
Top of mind about Romania
is not that positive
Background:
Petrom is the largest and most important
Romanian company & has the largest FS network
Background:
Economic crisis &
divestments in budgets
The initiative:
Put Romania again on the people’ hearts & minds
/Make it first choice in travel destination
The Goal:
Create the largest private & public partnership /
Social Manifesto to promote Romania
The Goal:
The biggest and most updated
touristic map of Romania
Built with the power of web 2.0,social media & mobile apps
One department (online) managed to generate
the largest long term collaboration project
among the most important companies...
A paradigm changing campaign:
From one brand broadcasting the message routine
toward
a brand alliance working for a common...
Building on the Corporate values – Romanian values
association stronger than any advertising formula
Each partner is a gen...
An entire new level of awareness and
implication across the country
(companies, employees, clients, social KOLs)
Innovates on a completely new approach
in communication – more personal, more
emotional, more actionable
Expose message of the campaign to the
captive audience, build on every comm. initiative
generate emotional bound around th...
What we bring together:
Current clients data bases
Visitors online
(websites, forums, etc.)
Social media accounts
& commun...
Myths:
#1 Companies cannot work together – busted!
#2 – Companies and bloggers don’t go together – super busted!
Companies & bloggers go together
Rediscover Romania is an example of how brand communication
can generate real life benefi...
A paradigm changing campaign
From brand communication
toward
Delivering utility to the people by involving them
A paradigm changing campaign
From extensive usage of classic media approach
To
Exclusive Social media activation & online ...
In 6 months
The biggest user generated content
only by social media in Romania
1,9 million people reached only by Social M...
138,000 people reached only by Twitter
660,000 people reached on blogs
400,000 people reached on Facebook
In total: over 4...
And that is because…
…You can change the world!
Thank you!
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Ana Bulgar: How to eat an elephant: An introduction in brand resilience and reputation management

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How to eat an elephant: An introduction in brand resilience and reputation management

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Ana Bulgar: How to eat an elephant: An introduction in brand resilience and reputation management

  1. 1. REPUTATION RISK MANAGEMENT AARHUS, DENMARK, 2015
  2. 2. WHAT IS YOUR COMPANY REPUTATION WORTH? ►ON AVERAGE MORE THAN 25 PERCENT OF A COMPANY’S MARKET VALUE IS DIRECTLY ATTRIBUTABLE TO ITS REPUTATION (WORLD ECONOMIC FORUM STUDY, 2012) REPUTATION INSTITUTE STUDY IN 2013: ►79% AGREE THAT WE ARE COMPETING IN A REPUTATION ECONOMY ►60% BELIEVE REPUTATION HAS A HIGH FINANCIAL IMPACT ON THEIR COMPANY ►ONLY 20% SAY THEY ARE READY TO TAKE ADVANTAGE OF IT Source: Reputation Institute, Reputation Leaders Study, 2013
  3. 3. ENTERPRISE RISK MANAGEMENT AND RISK 2 REPUTATION PROGRAM PROVIDES GREATER CERTAINTY ON STRATEGIC EXECUTION ERM provides Inside : Out perspective (what a company can see) R2R provides Outside : In perspective (what others see) RRM program brings both perspectives at the table
  4. 4. CONSOLIDATED PERSPECTIVE WHEN TACKLING REPUTATION PROGRAMS
  5. 5. JUST HOW IMPORTANT IS THE “OUTSIDE: IN” PERSPECTIVE? Reputation in ruins Strategy unachievable Clients don‘t buy Agencies don‘t rate Analysits don‘t back Partners don‘t promote Local communities don‘t accept Politicians don‘t support NGOs don‘t approve Media don‘t believe Regulators don‘t allow
  6. 6. Social Legitimacy: ► based on the norms of the community (legal, social and cultural; formal and informal) =the local ‘rules of the game’; ► Companies must know and understand the norms of the community and be able to work with them. REPUTATION RISK MANAGEMENT MAIN OBJECTIVE: SAFEGUARD “SOCIAL LICENSE”* TO OPERATE A company can not buy social license to operate! The Social License has been defined as existing when a project has the ongoing approval within the local community and other stakeholders, ongoing approval or broad social acceptance and, most frequently, as ongoing acceptance of the stakeholders and overall population. PSYCHOLOGICAL IDENTIFICATION APPROVAL Credibility Legitimacy Trust ACCEPTANCE REJECTION Gaining the Social License © On Common Ground Consultants Inc 2003 Credibility: ► consistently providing true and clear information; ► complying with any and all commitments made to the community. Trust: ► trust comes from shared experiences: go beyond transactions with the community and create opportunities to collaborate, work together.
  7. 7. BRAND RESILIENCE & REPUTATION RISK MANAGEMENT 7 Company/ Brand Promise Company/ Resilient Company (High Reputation) Vulnerable company Reputation Risk Management Company’s Resilience Source: Forrester Research, 2015 Company/ Brand Experience
  8. 8. BUILD REPUTATION - HARRIS FOMBRUN MODEL* Emotional Appeal • Likeability • Trust • Respect Products and Services • High quality • Innovative • Value for money Vision and Leadership • Competent leaders • Clear development strategy • Honesty/ transparency* • Capitalize on market opportunities Workplace Environment • Good organization • Qualified employees • Pleasant work environment • Good company to work for Financial Performance • Successful • Financially stable • Will grow • Stronger Social Responsibility • Environmentally responsible • Cares for its employees • Social programs for community development *conducted annually in USA (since 1999) on large samples (20.000 respondents) and measuring 80 most visible companies in the USA. developed by Harris Interactive and Charles Fombrun (professor of management at Columbia University); generally accepted by industry leaders and academics; Worldwide Communication Research 3/2001
  9. 9. REPUTATION RESILIENCE INDEX ESTABLISH CAUSES FOR FLUCTUATIONS +5 +4 +3 +2 +1 0 -1 -2 -3 -4 -5 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC / JAN FEB MAR APR MAY JU REPUTATION = EXPECTATIONS FROM THE COMPANY EXPERIENCES WITH THE COMPANY WHAT THE COMPANY SAYS DIRECT EXPE- RIENCES WHAT OTHERS SAY
  10. 10. HIGH-LEVEL FRAMEWORK: REPUTATION RISK MANAGEMENT BE PREPARED LISTEN MONITOR TAKE ACTION INVOLVE Risk Management Stakeholder Identification & Assessment Stakeholders engagement before their issues get public Media monitoring and early incident identification for containment Response to listening & monitoring results (embedded also in Incident Management process) Awareness, identification, reporting of reputational risks and incidents Unitary, systematic approach Common Information Picture on Company Reputational Risks
  11. 11. HOW TO TACKLE THE COMMON INFORMATION PICTURE 1. FIELD OF ACTIVITY & COMPANY STRATEGY (FMCG, TELECOM, CARS, VS. ENERGY, UTILITIES, PRESS OR PUBLIC INSTITUTIONS)  INFLUENCE ON OFFER, FLEXIBILITY & EMOTIONS IN CONVERSATION
  12. 12. 1. FIELD OF ACTIVITY & COMPANY STRATEGY 2. SIZE OF THE COMPANY (NO. OF EMPLOYEES, BUSINESS DIVISIONS, ROLES & PROCEDURES)  SPEED OF REACTION  SPEED OF EMPLOYEES’ ENDORSEMENT  SPEED OF INTERNAL LEARNING  SPACE FOR EXPERIMENTS HOW TO TACKLE THE COMMON INFORMATION PICTURE
  13. 13. 1. FIELD OF ACTIVITY & COMPANY STRATEGY 2. SIZE OF THE COMPANY 3. SIZE OF THE AUDIENCES (SIZE & CATEGORIES OF STAKEHOLDERS)  VOLUME OF INFORMATION  LISTENING INSIDE THE ORGANIZATION & OUTSIDE  BUSINESS KNOW-HOW (FILTERING INFORMATION TO EXTRACT WHAT IS RELEVANT)  CREATE SYNERGIES BETWEEN DIFFERENT INFORMATION OWNERS & THEIR MESSAGES HOW TO TACKLE THE COMMON INFORMATION PICTURE
  14. 14. SYNERGIES SET-UP: EXTERNAL EXPRESSION Corporate branding ►MKT (incl. BDs) ►CSR ►Press ►IR ►P. Affairs ►Corp. Affairs ►HR ►Employees personas Corporate brand personality (incl. brand values, brand guidelines) - tone of voice, design, visual identity, brand personality Brands portfolio & their personality - Services brands - Product brands - Shop brands - Commercial brands Brand interaction with the society - responsibility & community involvement - incl. stakeholders’ dialogue, KOL dialogue etc. HR (Corporate & Recruiting) - employer branding - communicate working environment & policies - recruitment, internship programs External Communication - identify zones of action / impact & their personality tone of voice, target focus, etc. online environment Brand ambassadorship - company image “mirroring” in the employees public profiles, their online personalities, behaviors, etc.
  15. 15. WHAT DOES IT MEAN FOR DIGITAL ON THE BUILD REPUTATION SIDE:  ONE COMMON INFORMATION PICTURE FOR LISTENING CHANNELS (INTEGRATE SOCIAL MEDIA LISTENING (ALL BRANDS / ALL CHANNELS) WITH CRM INPUTS, BRAND RESEARCH, CLIENT RESEARCH, EXTERNAL COMMUNICATIONS & PUBLIC AFFAIRS, CSR/FOUNDATIONS APPROACH ON THE DEFEND REPUTATION SIDE:  ONE COMMON INFORMATION PICTURE FOR ALL THE APPLICATIONS THAT PROVIDE INPUT ABOUT YOUR FOCUS AREA (HAVE THE SAME GRANULARITY), WORK WITH LAYERS AND CORRELATE THEM  RETHINK APPLICATIONS USAGE (ESPECIALLY INCIDENT REPORTING) BASED ON FREQUENCY AND PROXIMITY (RATHER THAN ONLY SEVERITY)  USE DASHBOARDS INSTEAD OF REPORTS AND INCLUDE OUTCOMES IN DECISION MAKING
  16. 16. KEYWORDS OF THE PRESENTATION 1 6 OUTSIDE IN / INSIDE OUT PERSPECTIVES DEFEND / BUILD REPUTATION E(W)RM / RISK 2 REPUTATION PROXIMITY / FREQUENCY / INFLUENCE COMMON INFORMATION PICTURE REPUTATION RISK INDEX PROJECTS PORTFOLIO MANAGEMENT PRE-CRISIS MANAGEMENT
  17. 17. The Social Phenomenon Rediscover Romania 2011
  18. 18. Background: Top of mind about Romania is not that positive
  19. 19. Background: Petrom is the largest and most important Romanian company & has the largest FS network
  20. 20. Background: Economic crisis & divestments in budgets
  21. 21. The initiative: Put Romania again on the people’ hearts & minds /Make it first choice in travel destination
  22. 22. The Goal: Create the largest private & public partnership / Social Manifesto to promote Romania
  23. 23. The Goal: The biggest and most updated touristic map of Romania Built with the power of web 2.0,social media & mobile apps
  24. 24. One department (online) managed to generate the largest long term collaboration project among the most important companies in Romania
  25. 25. A paradigm changing campaign: From one brand broadcasting the message routine toward a brand alliance working for a common outcome BCR Erste is the largest Romanian Bank Romtelecom is the default Romanian telecom choice Dacia is the most successful Romanian brand outside
  26. 26. Building on the Corporate values – Romanian values association stronger than any advertising formula Each partner is a genuine Romanian company (perception)
  27. 27. An entire new level of awareness and implication across the country (companies, employees, clients, social KOLs)
  28. 28. Innovates on a completely new approach in communication – more personal, more emotional, more actionable
  29. 29. Expose message of the campaign to the captive audience, build on every comm. initiative generate emotional bound around the brands
  30. 30. What we bring together: Current clients data bases Visitors online (websites, forums, etc.) Social media accounts & communities Internal comm. Regular newsletter inserts Payment bills inserts Project branded websites Intranet activation Close circuit TV screens (BCR bank offices) Dolce TV
  31. 31. Myths: #1 Companies cannot work together – busted! #2 – Companies and bloggers don’t go together – super busted!
  32. 32. Companies & bloggers go together Rediscover Romania is an example of how brand communication can generate real life benefits and utility for users & how brands working together can change the behavior of people on a large scale
  33. 33. A paradigm changing campaign From brand communication toward Delivering utility to the people by involving them
  34. 34. A paradigm changing campaign From extensive usage of classic media approach To Exclusive Social media activation & online resources
  35. 35. In 6 months The biggest user generated content only by social media in Romania 1,9 million people reached only by Social Media 2,5 million people reached offline 1,000 posts, 12,000 tweets 25,000 photos, 350 videos +100 people directly involved +150,000 EUR generated media value All results obtained without any media buying!
  36. 36. 138,000 people reached only by Twitter 660,000 people reached on blogs 400,000 people reached on Facebook In total: over 4,5 million unique individuals reached
  37. 37. And that is because…
  38. 38. …You can change the world! Thank you!

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