reputation

You may think that selling the hottest cell phone or the fastest car will drive consumers to choose your brand over another, but according to Reputation Institute, products are not the primary factor in their decision. Instead, the global private consulting firm found that reputation -- which it defines as the emotional bond between companies and their stakeholders -- is the single biggest component in consumers’ purchasing decision.

The Reputation Institute held a webinar early December on its 2012 Global RepTrak 100 poll to announce which global companies earned “The Best CSR Reputation in the World.” While this was surely a celebratory event—featuring a nice holiday gift for the winners!—the topic under discussion was a potential downer: “Is CSR dead or just mismanaged?”

Has anyone else been puzzled by how much “corporations” are distrusted?  Between the tone of some campaign platforms and a recent Public Affairs Council poll showing 44% of Americans have little or no trust in major companies, this is becoming an increasingly important issue, particularly since corporate leaders consistently identify trustworthiness as a vital attribute of leading brands. Corporate responsibility officers have a critical role in bridging this divide. 

My position at BCLC sits right smack in the intersection of CSR and social media strategy, so I am constantly absorbing news from one field and thinking about how it applies to the other. I found a PR News interview today that suggests "influence is up for grabs" -- doesn't this sound familiar to all the CSR practioners out there?

It’s easy to find articles on crisis communication planning in magazines, journals, and books. Professional speakers address the subject at industry conferences and professional meetings. And, there is good reason. But, a topic not discussed as frequently, yet of equal importance, is post-crisis work.      

A 2011 Cone/Echo Global poll finds that more than 90% of the world’s consumers want businesses to launch “operational innovation for the greater good.”  There is more to this than a company “cleaning up its act” by, say, reducing pollutants or protecting human rights in its supply chain.  It is about a company using its know-how and leverage to develop new business practices that have a positive impact on the world.