A good reputation helps companies get through tough times – three tips for building a company’s reputation

A good reputation is the cornerstone of any company. It earns the company respect, trust and recommendations and helps in managing crises. A well-built reputation may even save the company in unpredictable situations.

According to the Menesty yrittäjänä (“Successful Entrepreneurship”) survey conducted by Elo and the Federation of Finnish Enterprises, almost 80% of companies consider brand awareness and reputation very important or quite important for getting through the COVID-19 pandemic. Awareness and a good reputation have helped companies retain customers during challenging times.

The entrepreneurs who responded to the survey believed that the most significant factors in getting through the COVID-19 pandemic were characteristics that had been built up over a long period before the COVID-19 pandemic began. In fact, building a reputation is long-term work related to maintaining a brand over time.

How is reputation built?

Reputation is built on a company’s actions and the messaging related to them. It is important that the company acts according to its values, because reputation must always be earned. The company’s words must match its actions.

In addition to the company’s own actions, reputation is built on the image that the company’s stakeholders, such as customers and personnel, have about the company. Reputation is also affected by what stakeholders read and hear about the company.

In other words, the company cannot completely control its reputation. Still, the company can strive to build and control its reputation as much as possible.

How to build your company’s reputation – three tips

1. Tell your company’s story

Customers and stakeholders want to know more and more about the companies behind products and services, so telling your company’s story on its website and social media is an effective way of building a reputation. Customers also find it easier to commit to a company that feels familiar.

2. Be visible with a clear goal

A company must be visible to its stakeholders. If customers do not know your company, they will not find your products and services or trust your company with their money. These days, it is important to have an active presence online and on social media.

The foundation of a company’s reputation is what people are saying about it, not what the company is saying about itself. That said, you can strive to control the tone of the discourse, and creating valuable, helpful and informative content is one of the best ways to do so.

3. Involve your whole organisation in reputation building

Building and controlling a company’s reputation involves the whole company, not just management, marketing and communications. Building a reputation becomes easier when all employees understand how they can affect their organisation’s reputation through their work and actions.


Sources:
Forbes: Building Reputation Over Your Competitors: What You Really Need To Know
Forbes: Four Powerful Ways To Build Your Brand Reputation
T-media: Maineen johtaminen on kokonaisvaltaista työtä