Reshaping corporate reputations

published 2003

Regardless of why a reputation has changed, it is still a fact that, for most companies, their reputations are not necessarily what they could or should be.

Corporate reputations (and their inherent brand values) can go through a host of changes for any number of reasons.  AXA for instance launched a whole new brand from ‘day one’.  ING morphed deliberately and carefully from MMI.  Many telco brands have had their corporate reputations in the spotlight because of industry woes.  Other corporate reputations have been devalued because of their less than honest financial statements. 

While these examples are reasonably spectacular, other corporate reputations can diminish simply because the organisations have done little to protect or enhance their reputations since their advertising budgets ran out.

Before addressing any rebuilding of corporate reputation, it’s essential to establish the difference between ‘image’ and ‘reputation’.  Image is what you seek to project.  Reputation is how you are actually seen.  There can be a huge difference.

Here are some considerations you should take into account when assessing or rebuilding your organisation’s corporate reputation.

First, don’t rely on internal perceptions of your reputation.  Take the time to establish through research or some other mechanism what key audiences and stakeholders actually say and think about you.

Second, if change has been forced upon you, go beyond just making cosmetic changes (ie logo, or a new corporate brochure). You may have to do these as part of the branding process, but if you really have to rebuild a reputation it will probably be necessary to take some fairly fundamental steps to regain trust or rebuild your reputation. In cases where the change was predicated by negative or critical issues, this may involve making some apologies, changing some practices and building some new bridges with key audiences.

Third, recognise that you don’t have to do everything at the one time. Segment and prioritise your audiences and stakeholders.  Determine those that are really critical and are leaders in changing opinions and attitudes and those that are not so critical. 

Fourth, the key to changing attitudes towards the organisation is that it be driven by a few key top management who are ‘believers’ and have a commitment. Drive the communication from the inner circle by creating concentric circles of awareness.

Fifth, don’t forget to leverage any key industry ‘influencers’ when planning your message delivery.  High profile customers, industry analysts and commentators should all be made aware of your efforts and intentions.  Having them ‘on board’ is essential if media or shareholders are likely to seek their opinion.

Sixth, remember that staff talk to a range of stakeholders such as customers, suppliers and shareholders every day, so it’s important to not just ‘tell’ them of changes that will rebuild reputation, but to have them ‘believe’ in those changes.

There are many specialist skills that may be required to rebuild an organisation’s corporate reputation.  You may need to buy in the up-front research, a brand development company, an employee communication specialist, or media trainers.