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The PR picture: what we learnt from PR360

Reputation, reputation, reputation – why reputation management is climbing the corporate agenda.

When looking at the marketing funnel, you could be forgiven for thinking PR was synonymous with “awareness”. But one of the most notable things that came out of the recent PR360 conference was the resurgence of reputation as a key priority for businesses.

It is perhaps unsurprising in an age when negativity around a brand can proliferate on social media, which in turn can have a huge impact on markets, that businesses are looking to double down on protecting corporate reputation.

Against a backdrop of geopolitical and macroeconomic VUCA (volatility, uncertainty, complexity, and ambiguity), there can be a temptation for business leaders to avoid putting their head above the parapet. As Alex Saker from Experian put it, there can be a perception that exposure in the media leads to headlines like “Fat cat CEO earns £Xm”. But actually the opposite is true, and building profile for profile’s sake is good for business and reputation.

The golden rule is that if you only think about reputation management once the crisis has happened, you are way too late. It is much easier to come back from a crisis situation when you have already established wider context and goodwill in the media. Building trust and strong relationships with journalists when the sun is shining means that when an issue arises, you are much more likely to get a fair hearing.

When looking at protecting and enhancing reputation, here are some key points to consider:

  1. Be proactive and intentional about building a profile. Having a strong presence in the media builds trust and credibility with investors, internal audiences, and future talent. And it means you are ahead of the game if anything hits the fan.
  2. Trust the traditional media. While the damage might be done on social media, and the traditional media landscape has become more consolidated. The Big Four in the UK (BBC, The Times, The Telegraph, and The Guardian) still wield enormous power, and there is huge value in engaging these titles when you have something heavy-hitting to say or when you need to respond to a crisis.
  3. A crisis is not just a PR issue. Your response team also needs to involve legal, compliance, public affairs, and investor relations so that you can consider a situation from all angles and develop an appropriate response.
  4. Staying silent on issues is rarely the right approach. Saying “no comment” might feel more comfortable, but you need to consider how it will land with employees as well as other stakeholders. As Addy Frederick, Head of Group Communications at Admiral put it, “If you’re not part of the conversation, it doesn’t mean the conversation isn’t happening.”

 

Photo credit: PRWeek