September 18, 2012
Why managing reputation overseas matters (and how to)
In our previous “Reputation Management Decision Makers” video, Alain Cayzac explained how to use the style, personality and actions of a company to strengthen its reputation.
In this episode, Michael Jaïs and Kasper Ulf Nielsen (Executive Partner with the Reputation Institute) discuss the international implications of reputation management.
Earlier this year, the Reputation Institute published the results of their Global RepTrack™ 100, a larger surveys evaluating the reputations of the world’s 100 largest companies by interviewing consumers in the 15 largest markets. This work reveals that although 50% to 95% of revenue comes from international business, only 11 out of the 100 groups under scrutiny manage to create reputation levels as favourable abroad as it is in their home land.
Exporting reputation is indeed a difficult task for most corporations because it is necessarily based on the trust that consumers in foreign countries have in these companies and those consumers often know very little of their history or values.
Kasper Ulf Nielsen therefore recommends that foreign markets never be considered simply as export markets but as new locations for reputation crafting and interaction with local communities in order to let other drivers than product quality play an important role in reputation management and financial success.
I invite you to watch the video to learn what these other drivers are and what role social media play in this strategy.
See you soon, for new episodes.