Reputation is an intangible asset of a company, which can become the most important defence shield in a crisis situation. The studies show that half of the consumers will doubt the attributes of a brand if it has negative recensions, and 70% of those looking for a job will not accept one of one from a company with a bad reputation. Moreover, 8 out of 10 companies noticed improvements when it comes of the market value after they improved their reputation.
In a context when the stake is consumers’ trust, The Public Advisors developed RepMeter, its own instrument for measuring and managing company’s reputation among internal and external stakeholders. The development of this model was done by a mixed team including consultants in reputation management from agency’s team, together with experts in market research and branding.
The specialists consider that, now, 70-80% of the market value a company has is due to intangible assets like brand capital, intelectual capital, name and reputation. Because of that, the companies can become extremely vulnerable when any of the mentioned are affected. And PR, by definition, mean care for reputation. And how can you do this better then being always connected to what you do, what you say and what others say about you. We created this instrument to support the companies who want to understand the way they are perceived, so it will help them optimize their results
Managing Partner The Public Advisors
Reputation research represent one of the strategic projects for a company, and organizational policies, long term plans and corporate procedures can be establish in relation with this. In the same time, managing it needs the implication from representatives in all managerial levels. RepMeter aims to be an instrument in which to measure objective the values and identity of the brand, in balance with the perception over them. From this reason, the first step consists in realizing profound interniews with CEOs and other managerial representatives, depending on the type of company, and via those are analyzed the perspectives and vision over the company, organizational culture and potential risks.
We had this idea for a long time, but we felt that its implementation now it is more beneficial and relevant for companies because many of them are in the situation of rethinking their plans for business, investments and reorganization. So a credible solution, which offers a measurement of reputation and a general check-in over the perception can represent a key factor in organizing the plans for the future. A positive reputation helps the companies to form strong teams, to generate value, to loyalize clients and to offer a diversified range of products and services
Managing Partner, The Public Advisors
The reputation level will be established via RepMeter considering 7 steps that are following different attributes: business ethics (measures correctness, transparency and the degree of trust, customer experience (quality-price report, innovations when it comes of products and services), internal values (different opportunities offered to the employees, work environment, financial stability (continuity in front of the economical changes), social responsibility (involvement in social causes, organizational culture), emotional connection (investments in local and national economy, respect for the local culture and social values), familiarity (popularity among clients).
Besides the project ordered by companies, The Public Advisors will publish annual reports that could represent a reference frame for brands’ reputation in Romania.