Although they are related, brand and reputation are not the same. The distinction is crucial because it enables you to create a manageable plan for each. For instance, customers have a positive perception of aspirational athletic brands like Nike, Puma, and Adidas. However, they have a horrible reputation for using slave labor.
A company's values are publicly represented by its brand. It's how clients view the business in terms of its principles, beliefs, and objectives. They also view it in connection with other businesses and people. Aspirational sportswear companies like Nike, Puma, and Adidas are fantastic examples. These companies are renowned for their messages that inspire athletes to perform at their highest level. However, the reality that many of their pricey products are made in sweatshops hurts their brand. Although many marketers conflate the terms "brand" and "reputation," they don't mean the same thing. Combining the two can have detrimental effects on a company, such as decreased stock prices and trouble luring top talent. Making data-driven PR decisions requires an understanding of the difference between brand and reputation. Before spending money on branding and PR initiatives, it's critical to comprehend these distinctions. It can be difficult to assess the discrepancy between reputation and reality. It's a jumble of expectations and assumptions that isn't usually measured by hard facts. For instance, despite the lack of concrete evidence, some people may have unwavering faith in the existence of the Loch Ness monster. A business can manage its brand image through its merchandise, retail locations, and expertly executed marketing initiatives. The public's impression of company behavior, online discussion, and news reporting are other ways it might affect its reputation. However, reputation encompasses a broader understanding of how stakeholders see and perceive an institution. Understanding it may give a broad view of what's rising and sinking marketing's boat because it is a potent force that can smooth over brand mishaps. It also offers a compelling case for longer-term thinking in a time when digital marketers frequently feel pressured to pay attention to short-term programmatic results. Publicity is an unpaid method of marketing that spreads knowledge about a business or product through reliable channels like news outlets. It tries to increase goodwill, clear up false information, and boost demand. Additionally, it concentrates on a larger population that may not otherwise be accessible through focused marketing. Information that is shared as a result is frequently more reliable than advertising. As an illustration, Nike, a well-known and aspirational apparel firm, has a track record of encouraging its consumers to perform at their highest level. However, as it came to light that many of the company's pricey products were frequently created by slave laborers in sweatshops, its reputation deteriorated. A company's reputation is a long-term business plan that includes CSR, ethics, and other facets of its operations and culture. It's one of the reasons why many businesses now consider reputation to be a regular KPI that should be reported. The basis of any business's success is a reputation that can be relied upon and esteemed. It may take years to develop, yet even just one unfortunate event can cause it to crumble. In the absence of preparation, a crisis can ruin your reputation. Additionally, your response may hurt your brand if the wrong team is in place. However, by having a strategy, you can lessen the effects of bad circumstances or perhaps completely prevent them. Identifying your company's risks and classifying them according to likelihood and impact is a useful first step. Your crisis management team can then go into action. You'll need employees to handle various facets of the procedure, such as public relations, making sure legal requirements are satisfied, and choosing the most effective method of information distribution. The better prepared your team is, the quicker they can respond to a bad rumor or online review. You may monitor your online chats with the aid of tools like Brandwatch Alerts, Signals, and Iris to rapidly identify when there are rises in unfavorable comments. By doing this, you can react before it develops into a serious emergency.
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