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Reputation management as a condition for business development

Reputation management of a company begins at the stage of opening a company. A positively formed image and reputation make it possible to carry out sales comfortably and to steadily resist competitors.

Reputation management as a condition for business development
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1 What is the company’s image
2 Business reputation of the company
3 Differences in image and reputation
4 Image and reputation management
What is company image
The image of the company must be consistent with the goals that the company wants to achieve. The image of the company, adjusted to the target audience, helps to solve the problems of the company.

The image of the company is the opinion about the company, its services and the product, which is formed by the consumer. The image is created without interaction with the company itself, based on advertising, media news, rumors and prejudices.

The company’s image is made up of internal and external perception.

The internal image consists of:

first person brand,
image of staff (corporate form, treatment of clients, communication style between employees),
corporate culture (provision of social guarantees, customs, events, enterprise publications).
The external image consists in:

product reputation,
visual image (corporate identity),
consumer status,
sponsorship and charity,
attitude towards competitors, partners.
Internal and external image must match each other.

There are certain technologies for shaping the image.

The ultimate goal of image formation is the psychological, emotional attraction of a person, a consumer to a product, brand, object, situation.

A positive image contributes to:

customer loyalty,
brand visibility,
reducing the cost of promoting new offers,
the attractiveness of the enterprise as an employer,
increasing competitiveness.
Business reputation of the company
The business reputation of a company is the accumulated baggage of opinions of stakeholders – consumers, investors, employees, partners who directly interact with the company – over the years.

Investors perceive the transparency and openness of the organization, management, calculate growth, development opportunities and profitability.

The consumer forms an opinion about the quality of the product, the price, the guarantees provided by the company, the attitude of the employees.

Goodwill is valued as an intangible asset, which increases the economic value of the enterprise.

When a negative reputation is formed, the company loses money:

customers do not come back and leave negative reviews,
partners do not want to cooperate,
employees are not motivated to work,
it is difficult to promote new products,
it’s hard to expand markets.
Protecting business reputation is equal to protecting the company’s funds.

Differences in image and reputation
Image and reputation should not be recognized as equal.

Image Reputation
Created by advertising and mass media, in a short period of time It is accumulated over the years, with direct contact, by the activities of the entire company
Short-lived Provides long-lasting results
Easy to change from negative to positive Difficult to change from negative to positive
Assessment by the public Recognition by the public of certain qualities of the product and the guarantees provided by the organization
A company’s reputation and image are interdependent. A positively created image helps to strengthen the reputation. A company with a positive reputation, if desired, will change its image without losing customers. But, a bad image can be easily changed from negative to positive. And the change of reputation from negative to positive should be worked out comprehensively and for years.

Read more about reputation and image, the difference between their formation and protection on the Internet.

Image and reputation management
Image and reputation management, planning and strategy development should begin with the establishment of the enterprise. The company develops – the reputation develops.

Image and reputation are designed to complement and reinforce each other.

Reputation management techniques include:

building relationships with partners, with the formation of expectations,
providing guarantees in the quality of the product, service to the consumer,
trusting relationships with suppliers.
Planning the development of the image depends on the development of the marketing departments of the enterprise.

The external presentation of reputation is highly dependent on the development of the company’s websites and social networks. Online reputation and image management will allow you to:

protect against competitive attacks,
increase the number of customers, increasing the level of trust of the target audience,
to establish credibility and a positive reputation, with access to new markets.
To manage the image and reputation of the company on the network, the following actions are required:

analysis of content on the network,
solving problems as a whole, and not by individual components,
tracking negative reviews and working with them,
maintaining the image and reputation on websites and social networks,
contacting specialists.
You need to manage your reputation constantly, in a timely manner, without interruption. This way the company will work and develop steadily and will be able to withstand competitors.

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