In my previous post, we looked at the importance of maximizing value by integrating intelligence streams, and developing an integrated framework that includes key indicators across primary research, secondary research, and media monitoring. The next goal for any corporate reputation strategy is to really go beyond the data and to apply the insights to drive better decision making.
While regularly benchmarking and tracking a company’s reputation is a valuable exercise , the simple collection of data and monitoring of changes year-on-year does not take full advantage of the investment made in the research or the information available. As noted political statistician and writer Nate Silver once said, “being skilled at (i) collecting information and (ii) analysing information are very different things.” The same rhetoric holds true here: converting data into true business intelligence tailored to the organization’s specific business priorities should be the ultimate goal of reputation research.
A properly calibrated reputation management system helps a company fully understand the business implications of data intelligence, thereby helping it respond to issues, rectify problems, and operate more effectively.
Evidence-led decisions may rest on numerous data-driven insights:
- modelling the key dimensions of an organization’s reputation to understand what areas require attention and what areas can be leveraged,
- to track how an issue is evolving in the marketplace,
- to examine how reputation impacts business metrics like market share, consumer retention, sales,
- and to identify which stakeholders have the most significant influence on reputation.
Facilitated discussions and guided interpretation of the results can lead to better communications and engagement strategies, brand positioning, issues management, policy development, operational decision making, and corporate responsibility strategies. Fundamentally, it is about using rigorous evidence to feed into strategic discussions, which in turn will lead to better business decisions.
Building Resilient Corporate Reputations: A GlobeScan Brief and Blog Series
Drawn from our new brief, Building Resilient Corporate Reputations, this blog series explores best-practice solutions to common challenges and shortcomings of corporate reputation management. Whether you need to begin, to evaluate or to re-design your reputation management system, the brief and blog series will help you to assess how fit-for-purpose your current reputation approach may be. Femke de Man, Director, Reputation, introduces the findings in the video to the left.
Download the Brief: Building Resilient Corporate Reputations
Please feel free to comment on this blog or contact me directly:
Femke de Man | Director, Reputation | Email | Twitter | Bio
Click here to find out more about GlobeScan’s Reputation Management practice
For twenty-five years, GlobeScan has helped clients measure, understand and build valuable relationships with their stakeholders, and to work collaboratively in delivering a sustainable and equitable future. Uniquely placed at the nexus of reputation, brand and sustainability, GlobeScan partners with clients to build trust, drive engagement and inspire innovation within, around and beyond their organizations.