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Reputation changes identity: the human dimension in brands

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Mom wanted for a new job position to be carried out exclusively remotely and part-time. Refrain wasters. However, excluding that time spent on social media from this category, because one of the requirements to apply is the constraint of having two active profiles. US e-commerce Shapermint opens its doors to the first in the company chief mom officer of history. Recruiting started with a marketing campaign that explicitly recalls the difficult times of the pandemic. “We have decided to dedicate ourselves to mothers, the category most affected by the health emergency,” said Adweek Siobhán Lonergan, chief brand officer of Shapermint. This is how we wink at the female target – the brand is chosen in 80% of cases by mothers – making it enter the company. “For us today it is essential to be guided and protected by our own customers and this figure becomes the spokesperson for the millions of mothers who choose us,” Lonergan said.

La reputation economy

Finding allies between customers and employees to strengthen reputation. Welcome to the era of the “reputation economy”. To define it so it is RepTrak Company, a company active worldwide in the measurement and advisory of corporate reputation. From the new photograph, which involved almost 70,000 people in 15 countries around the world and previewed in Il Sole 24 Ore, it emerges that 63% of consumers now prefer to buy from companies with an excellent reputation and that 47% of customers are disappointed today. it changes its own much more abruptly than in the past purchasing choices. On the corporate front, in the last year alone, the realities with an excellent reputation have increased from 8 to 17%. The reputation seen by employees increased from 77.7 in 2019 to 80.8 in 2020.

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“Product driven” initiatives, ie focused on products and services, have an average impact of +1.9 points on reputation while “society driven” initiatives, therefore extended to the community, generate an average impact of +2.5 points. “Purpose driven” initiatives are also under the lens, those that affect both the business and the community and that manage to have an average impact of +8.1 points on reputation. «The pandemic has marked a turning point: those who do not work consistently on the purpose it loses value and competition from competitors », says Michele Tesoro-Tess, Executive Vice-President of Emea & Apac at RepTrak.

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Beyond the business

An evolution of sensitivity that is found above all among the younger groups: 9 out of 10 millennials believe that investment in ESG, i.e. in environmental, social and governance, is central. These are ethical, social and environmental initiatives that go beyond business, analyzed by RepTrak Company with a special algorithm. Today intangible assets continue to increase, considered relevant for 90% of the market value. “There is a correlation between the companies that record high standards in these areas and those that rank high in the report of the best one hundred in the world: the ESG criteria are a multiplier of reputation”, points out Tesoro-Tess.

Reputation in Italy

In 2020 the reputation of companies in Italy grew by 2.3 points in all sectors. Excelling were the health sectors (+3.3), telecommunications (+2.8), financial services (+2.6), food & beverage (+2.6). “We have witnessed a change in the approach towards the public, which is no longer considered a simple consumer, but a human being: the heart of expectations revolves around the role they play for society, for the territory and for people. . It is no coincidence that among the top reputational drivers we find governance and citizenship stably, while the aspect linked to the workplace is on the rise especially in Italy », says Tesoro-Tess.

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So i intangible reputational factors they weigh more and more. This was also highlighted by Raffaele Jerusalmi, CEO of Borsa Italiana, stating that most of the listed companies have a valuation that depends for 70-75% on what their intangible value is, while thirty years ago the value was linked by 95% to physical assets.

The measurement

A distributed, multifaceted and evolving reputation, which is strengthened by good practices and the involvement of customers who become ambassadors. «Reputation is everyone’s responsibility. From ownership to management and up to the individual employee: everyone is able to externally influence the company’s reputation ”, concludes Tesoro-Tess. But reputation is also to be measured: more and more companies are integrating reputational metrics within management systems for management objectives or social and environmental performance. Thus the Atlantia shareholders’ meeting approved the adoption of an incentive plan that also includes reputation. Here is the coherence between actions and narratives. On the other hand, the way to get a good reputation is to act to be what you want to appear. Socrates already said it over two thousand years ago, long before social amplification.

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