The role of PR in Reputation
26th September 2013
MSLGROUP in India and Eikona PR Measurement have announced the launch of their co-authored report, ‘Reputation: How it is built and maintained, and the role of PR’.
Businesses are becoming increasingly conscious of the importance of corporate reputation. They have found that it is customers’ perception of a company that drives purchases. Ultimately, it is not just the end users that corporations are looking to impress; they are striving to connect with all stakeholders, which include employees, vendors, the community and the government.
The report analyses the growing importance of reputation management and its impact on the PR industry.
Some of the points the report makes:
- Corporate reputations are the sum total of the beliefs held by individuals about companies’ past actions and future potential. It is stakeholders’ collective actions and sentiments – whether to purchase a product, buy shares of the company’s stock, or recommend the company to others – that determine every company’s ability to stay in business.
- Reputation is an intangible asset, but its effects are real. Indeed, reputation is acting on companies all the time — an invisible yet powerful influence that can either help or hinder a company as it strives to meet its objectives.
- From credit terms to employee retention, reputation can have a serious impact. Like gravitational pull, reputation makes it easier or more difficult for your company to get where it needs to go.
Jaideep Shergill, CEO, MSLGROUP India, said: “Communicators are calling this the ‘Reputation Economy’, and rightly so. Reputation management could be the fuel for your business’ growth. Through this report, we wish to highlight the importance of reputation on the long-term future of businesses and also that the PR industry in India is uniquely geared to provide the strategic thinking required to build and maintain corporate reputation.”
Siddhartha Mukherjee, Senior Vice-President, Eikona PR Measurement, added: “Until recently, India Inc. was focusing all its energies only towards Brand Visibility and Recall. As a welcome change, however, it is good to see that Top Management of some of the Corporates in India have realized the Impact of Corporate Brand Reputation in their Business Planning & Performance. Which is why, they are bringing Reputation into their KRA (Key Responsibility Areas) charter by implementing Research & Measurement matrices. Here is where they are heavily depending on the usage of PR to create and sustain Brand Reputation.”
The report can be downloaded here. We will be looking at the report in more detail in the next coming weeks.