The Economics of Reputation
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Tony Langham's presentation on 'The Economics of Reputation', delivered at the PRCA Annual Conference 2015
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The Economics of Reputation
- 1. YOUR LOGO THE ECONOMICS OF REPUTATION CONVERSATION STARTERS Chairman, PRCA’s PR Council Chief Executive, Lansons @TONYLANGHAM TONY LANGHAM CMPRCA
- 4. THE EXPERT PERSPECTIVES “Old fashioned PR was talking to the markets once a quarter” “Amazed by how quickly things blow up, how quickly they blow away” “You can’t talk your way out of something you behave your way into” George Pascoe-Watson Partner Portland Amanda Mackenzie Formerly Chief Marketing and Communications Officer Aviva Zitah McMillan Formerly Director of Communications and International, Financial Conduct Authority
- 5. REPUTATION AFFECTS EVERYTHING Benefits of enhanced reputation Recruit/retain staff 93% 91% 75% More positive coverage More effective marketing 69%Government influence 67%Benefit of doubt from stakeholders Source: 55 in-house communication directors, YouGov, August 2014
- 6. CEOs BELIEVE IN THE POWER OF REPUTATION Who believes reputation “affects bottom line a large amount”? CEO 68% 56% 41% CMO The board 31%Senior managers 25%CFO Source: 114 senior communication professionals, YouGov, August 2014 14%All staff A large amount
- 7. No opinion 5% Disagree 63% Agree 32% MEDIA CRITICISM STILL HURTS “Senior management care much less about journalists’ criticism than they used to” Source: 114 senior communication professionals, YouGov, August 2014
- 8. Yes, now 9% Yes, past 12% No, never 79% REPUTATION IS A KEY PART OF EMPLOYEE ENGAGEMENT Embarrassed about where you work? Source: 1,197 employees interviewed by Opinium, February 2015
- 9. REPUTATION MATTERS IN CHOOSING EMPLOYER Deciding where to work Salary 65% 41% 33% Type of work Organisation’s reputation 32%Location 27%Flexibility Source: 1,197 employees interviewed by Opinium, February 2015
- 10. EMPLOYEES BELIEVE THEY’RE RESPONSIBLE Responsibility for maintaining reputation? All staff 63% 27% 25% Leader Senior management 17%Board 16%Marketing/PR team Source: 1,197 employees interviewed by Opinium, February 2015
- 11. CONVERSATION STARTERS Reputation affects everything CEOs believe in the power of reputation Reputation is a key part of employee engagement Reputation matters in choosing an employer Media criticism still hurts Employees believe they’re responsible
- 13. THE ECONOMICS OF REPUTATION CHAIRED BY TONY LANGHAM CMPRCA CHIEF EXECUTIVE, LANSONS @TONYLANGHAM MILES CELIC DIRECTOR OF GROUP STRATEGIC COMMUNICATIONS PRUDENTIAL @MILESCELIC MARY WHENMAN CMPRCA PRESIDENT WOMEN IN PR @MARYWHENMAN PETER MORGAN CORPORATE AFFAIRS DIRECTOR ROLLS ROYCE @ROLLSROYCE