The document discusses the importance of reputation for companies and the challenges of managing reputation. While 95% of Fortune 500 CEOs see reputation as the most important factor for success, only 14% are actively working to enhance their company's reputation. It argues that reputation is difficult to quantify and takes a long time to realize. The document advocates for a single-minded approach to managing reputation that involves the whole company and is measured. It provides the example of an accounting firm that revitalized itself by creating a strong brand and managing behaviors, relationships, and reputation.

2. “MANUFACTURED
GOODS CAN BE
INSPECTED PRIOR
TO TRANSACTION.
SERVICE PROVIDERS
CAN OFFER ONLY
THEIR REPUTATION.”
Alan Greenspan

3. 95% 14%
VS

4. OUR SURVEY SAYS
A piece of research among the CEOs of the leading
companies of the Fortune 500 found that from that group,
95% concurred that their organisation’s reputation was its
most significant factor in its overall success. Yet, off that
same group, only 14% confirmed that they were doing
anything proactive to enhance their organisation’s
reputation.
Why…?

5. THE PROBLEM WITH REPUTATION
It’s an intangible and complex concept.
It’s difficult to quantify.
It takes too long to realise.
It’s hard allocate responsibility.
Let’s leave it to our brand!

6. THE PROBLEM WITH BRANDS
It’s your logo.
It’s advertising.
It’s something that is done by marketing.
It’s more to do with FMCG.

7. THE PROBLEM WITH BRANDS
No connection to HR, operations, sales, NPD.
Different marketing directors, different ideas.
Fluffy brand models that don’t make a difference.
Fuzzy brand visions that people don’t believe.

8. THE ANSWER IS…
A single minded approach that envelops the whole firm.
Visionary and owned by the board.
Directs how the business communicates to both internal
and external audiences.
Not just saying – it’s about doing as well.
Must be measured!

9. “IN A PROFESSION THAT
SELLS A PROMISE OF
PERFORMANCE VERSUS
A TANGIBLE PRODUCT
OR SERVICE, A FIRM’S
VISION, VALUES AND
CULTURE LIE AT THE
HEART OF THAT PROMISE.”
Maureen Broderick
Managing Professional Services

10. THE CHALLENGE
Conservative.
Intangible.
Generic values.
Personal relationships.
Hard to differentiate.

11. BUT THERE ARE OPPORTUNITIES
1. Branding from the inside out
2. Quality of relationships
3. Experience of working with the firm
4. Demonstrate how you create “unexpected value”
5. There are defined category norms – lead or challenge?

12. 1. INSIDE OUT

13. 2. RELATIONSHIPS

14. 3. EXPERIENCE

15. 4. UNEXPECTED VALUE

16. 5. OWN A TERRITORY
Lead Challenge

17. THE THEORY IN
PRACTICE

18. TENON
Created when 13 individual businesses came together.
The company wasn’t performing as expected.
There was a desire to make a difference.

19. ACCOUNTANTS ARE ALWAYS BLUE

20. AND SO WERE TENON!

21. TENON
An on-going revitalisation project.
Board level accountability.
Taking the whole organisation through the process.
Turn accountants into advisors to entrepreneurs.
Metrics in place to measure success.

26. CREATE EMPLOYEE
VALUE BY MANAGING
INTERNAL BEHAVIOURS

28. 70% UNDERSTOOD
BUSINESS STRATEGY
70% UNDERSTOOD MEANING
OF BRAND AND VALUES

29. CREATE CUSTOMER
VALUE BY MANAGING
RELATIONSHIPS

30. CAMPAIGNS TO DELIVER THE PROPOSITION

31. BRAND MESSAGING FOR SERVICE LINES

32. TENON WEALTH EXPERIENCE
Direct mail Web banners E-shots

33. TENON WEALTH EXPERIENCE CAMPAIGN
FROM A PROJECT
COST OF £45K,
FEE INCOME OF £1.3M
WAS GENERATED.

34. CREATE SHAREHOLDER
VALUE BY MANAGING
YOUR CORPORATE
REPUTATION

36. £0.2M TO £26.3M PROFIT IN SIX YEARS
BRAND RETENTION THROUGH M&A
LATERAL HIRES & FEE INCOME
BEST BRAND IN PRACTICE
2007 MANAGING PARTNERS FORUM
BRAND OF THE YEAR
2005 B2B MARKETING AWARDS

37. “IF YOU LOSE DOLLARS
FOR THE FIRM BY BAD
DECISIONS, I WILL BE
UNDERSTANDING. IF
YOU LOSE REPUTATION
FOR THE FIRM, I WILL
BE RUTHLESS.”
Warren Buffet

38. THANK YOU
richard.simpson@tayburn.co.uk
07733 475 226
www.tayburn.co.uk