Here are 5 common blind spots that are causing companies to incur reputation damage.
Being swayed by trends to comment on topics that have little to no connection to the company's mission or value.
---> Leaves the company vulnerable to making a misstep because they don't have all the facts or knowledge, and sets an expectation the company will take action on the issue. If no action is forthcoming, then the reputational impact is worse.
2. Letting the opinion of the loudest voice at the table decide how to position the brand on sensitive or reputational risky subjects.
---> In the absence of data, peoples' personal opinions or emotions can take over, which may not align with the best interests of the company or its most important stakeholders.
3. Only listening to a few stakeholders before making a decision that impacts a much wider group.
---> Risks upsetting or miscalculating how groups of stakeholders will react which can lead to business disruption.
4. Forgetting employees are a critically influential stakeholder group.
---> Employees who lose trust in management can negatively impact business success through multiple means, including lower productivity, leaking information to the press, and going public with their grievances.
5. Flying blind on reputation risk decisions because this is no reliable information.
---> Leads to inconsistent application of reputation risk appetite as everyone's risk appetite on certain topics will vary based on their role or experience.
How to take the blinders off
Companies can address these blind spots by adopting a data-based framework for making reputation risk decisions.
The companies that are taking back control are shifting away from making reputation risk decisions with blinders on to understanding how different stakeholders' changing perceptions on important topics are impacting their company's reputation.
The first step is to start with a Reputation Risk Audit to analyze
the key reputation drivers, channels, primary ambassadors and detractors and conversation sentiment of your most important stakeholders.
If you are ready to take the first step, let's talk.
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