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In today’s digital marketplace where consumers can share content 24/7 across multiple platforms, you must proactively tell your own story. When considering a business transaction, there are two main factors people consider – who you are and what you sell.

According to Forbes, it’s who you are that is by far the more important of the two.[i]

Your reputation is a crucial intangible asset. It’s your key to developing and fostering customer loyalty. It differentiates you from your competitors and builds consumer confidence that translates into financial rewards.

The Value of Reputation

Reputation influences purchase decision-makers and drives demand which in turn translates into better financial performance, higher revenues, greater market share, higher valuation, and positive consumer behavior.  According to authors Chun and Roper, reputation has been found to contribute to between 3 and 7.5 percent of revenues yearly.[ii]

The impact of reputation to your bottom line clearly shows public relations should be considered a business investment rather than a cost.

Managing reputation is among public relations’ core areas of expertise. Savvy PR strategy integrates traditional media, social media, brand-owned content marketing and brand journalism to build a brand’s reputation across multiple platforms.

According to research by Nielsen, 83 percent of consumers[iii] trust recommendations from family and friends more than any other form of marketing.

PR helps leverage the power of credible intermediaries such as industry experts, thought leaders, analysts, and influencer endorsements to help you build your reputation, credibility and your bottom line.

The above excerpt is from our new e-book which can be downloaded by clicking on the link below.  

If you’re in healthcare, insurance, technology or other professional services industries, and need help with a PR, marketing or social media campaign, contact Scott Public Relations.

Download our e-book, “The C-Suite Asks, We Answer: The Top 6 Questions About Healthcare PR.”

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[i] Kasper Nielsen, “How to Leverage Reputation as Your #1 Driver of Value,” Forbes, last modified October 1, 2012, http://www.forbes.com/sites/forbesinsights/2012/10/01/how-to-leverage-reputation-as-your-1-driver-of-value/#6574cf2c6279

[ii] Gary Davies, Rosa Chun, Rui Vinhas Da Silva, and Stuart Roper, Corporate Reputation and Competitiveness (London: Routledge, 2003)

[iii] “Recommendations From Friends Remain Most Credible Form of Advertising Among Consumers; Branded Websites Are The Second-Highest-Rated Form,” Nielsen.com, last modified September, 28 2015,
http://www.nielsen.com/us/en/press-room/2015/recommendations-from-friends-remain-most-credible-form-of-advertising.html