A recent report by global PR firm Weber Shandwick quantified a belief long preached by PR practitioners around the globe – reputation is (nearly) everything.
In the “State of Corporate Reputation” report, the authors noted “corporate reputation is an invaluable asset with an appreciable impact on a company’s bottom line. On average, global executives attribute 63% of their company’s market value to their company’s overall reputation.” Other segments of respondents valued their reputation impact at nearly 76%.
While positive reputation is the product of a variety of factors, managing it is typically a responsibility relegated to the communications or marketing department. However, reputation is about more than just positioning or messages. In fact, a company’s action (or inactions) can often be even more impactful than its latest flashy campaign.
Now, don’t start throwing stones at this devout PR advocate. I’m not suggesting marketing and communications don’t have a role, in fact, quite the opposite. It’s our belief at NST that PR has a role in helping to shape any organizational decision that can impact reputation – which is nearly all of them.
When organizations are considering significant change, few would bat an eye at representatives from finance or legal being brought to the table for their perspectives, but what about those whose job it is to maintain the reputation and relationships among all the organization’s most important stakeholders? PR belongs at the table.
At NST, our vision is “Redefining PR,” which reflects our desire to change the perception that PR is just earned media and news releases. We see public relations as something bigger and more meaningful. PR should have a role in driving strategy in areas that were once only reserved for the C-suite.
We pursue this vision not by abandoning what works, but improving upon it, constantly growing our toolkit and ensuring we apply forward-thinking relevancy to everything we do.
Want to see what a solid reputation can do for your bottom line? Give us a call.