{"id":11860,"date":"2018-03-19T08:02:21","date_gmt":"2018-03-19T08:02:21","guid":{"rendered":"https:\/\/www.blueoceanglobaltech.com\/blog\/?p=11860"},"modified":"2024-11-21T17:34:10","modified_gmt":"2024-11-21T17:34:10","slug":"digital-reputation-management-101","status":"publish","type":"post","link":"https:\/\/www.blueoceanglobaltech.com\/blog\/digital-reputation-management-101\/","title":{"rendered":"Digital Reputation Management 101"},"content":{"rendered":"

[vc_row full_width=”stretch_row_content” css=”.vc_custom_1663842036099{padding-right: 10% !important;}” el_id=”blogmain”][vc_column css_animation=”slideInLeft” width=”1\/3″ el_id=”leftsection”][vc_column_text]<\/p>\n

How Much Is A Reputation Worth?<\/a><\/p>\n

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Reputation Is Both A Repository Of Shareholder Value And A Means For Growing It<\/a><\/p>\n

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The World Is Literally At Our Fingertips<\/a><\/p>\n

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Guilty Until Proven Innocent<\/a><\/p>\n

[\/vc_column_text][\/vc_column][vc_column width=”2\/3″ css=”.vc_custom_1618813627589{margin-bottom: 0px !important;padding-right: 3% !important;padding-left: 3% !important;}” el_id=”rightsection”][vc_row_inner][vc_column_inner css=”.vc_custom_1618813616584{margin-bottom: 0px !important;}”][vc_column_text css=”.vc_custom_1727705389778{margin-bottom: 0px !important;}”]Please note that this\u00a0article<\/a>\u00a0was originally published by our Chief Financial Officer,\u00a0Sameer Somal<\/a>,\u00a0on CFA Institute\u00a0Enterprising Investor blog<\/a>.<\/p>\n

\"Digital<\/p>\n

\u201cIdentity will be the most valuable commodity for citizens in the future, and it will exist primarily online.<\/a>\u201d \u2014 Eric Schmidt<\/p>\n

Reputation is everything.<\/p>\n

Many of the opportunities presented to us come based on our reputations.<\/p>\n

Yet reputation is an intangible, ambiguous, and complex concept. It involves impressions, emotions, and perceptions encompassing the estimation in which a business, person, or thing is held by a specific group or the public at large. Similarly, reputations are crucial for individuals working in high-profile cases. for example, a lawyer working with a firm must ensure his reputation remains untarnished. in such cases, <\/span>reputation management for lawyers<\/a> can be an excellent way to boost one\u2019s online profile and preserve credibility<\/span><\/p>\n

Businesses grow and succeed through their reputations.\u00a0A digital presence and\u00a0online communication strategy are not just part of a company\u2019s reputation, they form the firm\u2019s foundation \u2014 the most critical component to its survival and growth.<\/p>\n

But compared with traditional brand marketing, digital reputation management\u00a0is a new frontier where applicable guidance and proven research are in limited supply.<\/p>\n

Almost two decades ago, Mark Bunting and Roy Lipsk<\/a>i proposed that online perception and opinion, regardless of its accuracy, have as great an effect on a company\u2019s reputation as the company\u2019s actions. These perceptions quickly formed and shared across myriad traditional and digital platforms, create both reputational opportunities and challenges.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner el_id=”one”][vc_column_inner][vc_column_text css=””]<\/p>\n

How much is a reputation worth?<\/span><\/h4>\n

Today, we interact with friends, family, and colleagues largely through text messages, email, and social media, where perception and reality are often confused. So both digital and in-person\u00a0first impressions<\/a> are critical. Therefore reputations extend beyond brands, It can include aspects of <\/span>personal reputation management<\/a>. Maintaining a positive brand image and a personal reputation can help build a strong online presence.<\/span><\/p>\n

Traditional financial education supplies a comprehensive framework for understanding the valuation of tangible assets, including the value of public and private companies. Portfolio managers and analysts make investment decisions after thorough research into a firm\u2019s fundamentals. However, the subjective valuation of the firm\u2019s intangibles \u2014 brand equity, relationship capital, patents, and, of course, reputation, among them \u2014 creates a larger challenge.<\/p>\n

Burson-Marsteller<\/a>, a leading global public relations and communications firm, found that\u00a095% of the CEOs surveyed<\/a>\u00a0believe that corporate reputation plays an important or very important role in the achievement of business objectives. But, only 19% of these same executives had a formal system for measuring the value of that reputation.<\/p>\n

Beyond recognizing that it does affect a firm\u2019s value and long-term growth prospects, we don\u2019t understand reputation all that well. When drawing conclusions on valuation, we often lump brand value and reputation in with other components that are inherently difficult to quantify \u2014 under the balance sheet\u2019s goodwill line item.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner equal_height=”yes” content_placement=”middle”][vc_column_inner width=”1\/6″][\/vc_column_inner][vc_column_inner el_class=”cta-1-left” width=”2\/3″ css=”.vc_custom_1654853436250{margin-left: 0px !important;padding-top: 20px !important;padding-right: 0px !important;padding-bottom: 0px !important;padding-left: 40px !important;background-image: url(https:\/\/www.blueoceanglobaltech.com\/blog\/wp-content\/uploads\/2022\/05\/background-cta.png?id=13450) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;border-radius: 20px !important;}”][vc_text_separator title=”Related” title_align=”separator_align_left” align=”align_left” color=”custom” border_width=”2″ el_width=”10″ accent_color=”#03315d”][vc_custom_heading text=”Why a Reputation Management Agency Is a Necessity for Your Business?” font_container=”tag:h2|text_align:left|color:%2303315d” google_fonts=”font_family:Lato%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C700%2C700italic%2C900%2C900italic|font_style:900%20bold%20regular%3A900%3Anormal”][vc_btn title=”Read More” style=”custom” custom_background=”#ffffff” custom_text=”#03315d” shape=”square” align=”left” el_class=”border-btm-btn” link=”url:https%3A%2F%2Fwww.blueoceanglobaltech.com%2Fblog%2Freputation-management-agency%2F”][\/vc_column_inner][vc_column_inner el_class=”cta-1-right” width=”1\/6″ css=”.vc_custom_1654853237778{padding-top: 22px !important;padding-right: 20px !important;padding-bottom: 0px !important;padding-left: 40px !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;border-radius: 20px !important;}”][vc_single_image image=”14589″ img_size=”full” alignment=”center” css=”.vc_custom_1661845926350{margin-top: 0px !important;margin-right: 0px !important;margin-bottom: 0px !important;margin-left: 0px !important;padding-top: 15px !important;padding-right: 38px !important;padding-bottom: 15px !important;padding-left: 38px !important;}”][\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner el_id=”two”][vc_column_text css=””]<\/p>\n

Reputation is both a repository of shareholder value and a means for growing it.<\/span><\/h4>\n

\u201cDecisions to buy or not buy from a company have increasingly less to do with place, packaging, or promotion and almost everything to do with how much your friends, family, and even strangers provide online assurance that the product or service is worth the cost.\u201d\u00a0\u2014\u00a0Elaine Cheng<\/a>, chief information officer, CFA Institute<\/p>\n

Brands accounted for more than 30% of the S&P 500 stock market value, according to\u00a0The<\/em>\u00a0Economist<\/em><\/a>. That is the consensus among corporate CEOs. Sixty percent of chief executives\u00a0surveyed<\/a>\u00a0by the World Economic Forum and public relations firm Fleishman-Hillard said they believed corporate brand and reputation represented more than 40% of their company\u2019s market capitalization.<\/p>\n

Better reputations do not guarantee growth, but they certainly expand the opportunities to achieve it. So firms need to focus on reputation management when they align their strategic communication with investor and client preferences. Moreover, proactive reputation management for brands<\/a> gives business owners insights into their strengths and weaknesses. Online reputation management (ORM) also involves accessing<\/span> reputational risks<\/a> that might tarnish one\u2019s brand and image. Hence, the business owner gets overall control of their brand narrative.<\/span><\/p>\n

The framework for making informed inferences about reputational value has become clearer over the past decade. The \u201c2017 US Reputation Dividend Report<\/a>\u201d supports the view that investor confidence derived from a firm\u2019s reputation drives shareholder value. Indeed, one out of every five dollars of market capitalization is a product of the confidence instilled by a company\u2019s reputation \u2014 that\u2019s about$4.6 trillion in the first half of 2017, according to the report. Moreover, the 10 most economically powerful reputation assets among US corporations accounted for close to half of their corporate market cap at the start of 2017.<\/p>\n

Strong brands and proactive brand reputation management<\/a> help to mitigate investor risk and reassure for shareholders when earnings are weak.<\/p>\n

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The world is literally at our fingertips.<\/span><\/h4>\n

So how can we protect our reputations? It starts with searches.<\/p>\n

Every internet search\u00a0yields a search engine results page (SERP). Every second there are\u00a063,000 Google searches<\/a>, and every day there are 5.5 billion.<\/p>\n

People perform these searches for countless reasons. They may be googling themselves or looking for their next investment manager. They might even be googling you. After all, it\u2019s a fair bet that anyone to whom we hand our business card will search online for more information. Positive online reviews from real clients will foster trust with prospects and referrals. Conversely, negative hits to our online reputation will quickly damage our offline one.<\/p>\n

Search engines employ complicated algorithms. If a negative post cites relevant links and information, it will leapfrog more laudatory results. A negative link is the last thing users should see when they search for your business.<\/p>\n

Unfortunately, most people only go through information on the first page of a search. In fact,\u00a095% just look at that first page<\/a>\u00a0of Google search results, and\u00a067% of all clicks<\/a>\u00a0are confined to the top five listings. So if positive information is further down, it is effectively buried.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner el_id=”four”][vc_column_text css=””]<\/p>\n

Guilty Until Proven Innocent<\/span><\/h4>\n

\u201cIt takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you\u2019ll do things differently.<\/a>\u201d\u00a0\u2014 Warren Buffett<\/p>\n

In the age of digital Darwinism, we are now guilty until proven innocent. And even when we are innocent, we may still be guilty online.<\/p>\n

Consider this scenario: A portfolio manager at a wealth management firm is wrongly accused of negligence by a disgruntled client. The baseless charges are later dismissed, but when the firm is googled, the accusations appear high up on the first page of the search results.<\/p>\n

Ignoring this\u00a0digital footprint could have catastrophic consequences<\/a>\u00a0for the company. Left unchecked, the negative commentary will not only directly affect growth, but will also lead to tangible losses.\u00a0A damaged online reputation can destroy an established firm and its brand<\/a>.<\/p>\n

So the best reputation offense is a strong defense. A proactive presence builds digital resilience, protects a\u00a0firm\u2019s reputation, and makes it easier to\u00a0repair reputational damage<\/a>.<\/p>\n

Your reputation and that of your firm are your most valuable assets. Make sure you\u2019re safeguarding them online and everywhere.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner content_placement=”middle” css=”.vc_custom_1654856910875{background-image: url(https:\/\/www.blueoceanglobaltech.com\/blog\/wp-content\/uploads\/2022\/05\/Rectangle-102.png?id=13271) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;border-radius: 15px !important;}”][vc_column_inner el_class=”cta-3-2 cta-3-1 cta-3″][vc_custom_heading text=”Online Reputation Management Is Vital to Every Business.” font_container=”tag:h2|font_size:40|text_align:center|color:%23ffffff” google_fonts=”font_family:Lato%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C700%2C700italic%2C900%2C900italic|font_style:300%20light%20regular%3A300%3Anormal”][vc_custom_heading text=”Invest in Success, Call Us Today and Let Our Team of Professionals Help Maintain Your Good Name.” font_container=”tag:p|font_size:18|text_align:center|color:%23ffffff” google_fonts=”font_family:Lato%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C700%2C700italic%2C900%2C900italic|font_style:300%20light%20regular%3A300%3Anormal” css=”.vc_custom_1665132910537{padding-bottom: 12px !important;}”][vc_btn title=”Request a Call Back” css=”.vc_custom_1732210399386{margin-right: 50px !important;margin-left: 50px !important;}” el_class=”solid-button-1 popmake-14008″ link=”url:https%3A%2F%2Fwww.blueoceanglobaltech.com%2Fcontact-us%2F”][vc_btn title=”Send Us an Email” css=”.vc_custom_1655473382305{margin-right: 50px !important;margin-left: 50px !important;}” el_class=”border-button-2 border-button-2-dark” link=”url:mailto%3A%20info%40blueoceanglobaltech.com”][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Have you ever noticed the “Google Customer Reviews” panel that appears when you search a business by name? There’s a subconscious sentiment that results from seeing this rating attached to your business. If you have thousands of happy customers, but only a few reviews featured, people won’t trust you to provide exceptional service or value. <\/p>\n","protected":false},"author":1,"featured_media":11150,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[23,51,545],"tags":[132,130,131,213,79],"class_list":["post-11860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-online-reputation-management","category-reputation-management","tag-onlinereputation","tag-onlinereputationmanagement","tag-reputation","tag-digital-reputation-management","tag-orm","entry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.blueoceanglobaltech.com\/blog\/wp-json\/wp\/v2\/posts\/11860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.blueoceanglobaltech.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.blueoceanglobaltech.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.blueoceanglobaltech.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.blueoceanglobaltech.com\/blog\/wp-json\/wp\/v2\/comments?post=11860"}],"version-history":[{"count":5,"href":"https:\/\/www.blueoceanglobaltech.com\/blog\/wp-json\/wp\/v2\/posts\/11860\/revisions"}],"predecessor-version":[{"id":21146,"href":"https:\/\/www.blueoceanglobaltech.com\/blog\/wp-json\/wp\/v2\/posts\/11860\/revisions\/21146"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.blueoceanglobaltech.com\/blog\/wp-json\/wp\/v2\/media\/11150"}],"wp:attachment":[{"href":"https:\/\/www.blueoceanglobaltech.com\/blog\/wp-json\/wp\/v2\/media?parent=11860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.blueoceanglobaltech.com\/blog\/wp-json\/wp\/v2\/categories?post=11860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.blueoceanglobaltech.com\/blog\/wp-json\/wp\/v2\/tags?post=11860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}