What value should a business place on its corporation reputation? In the latest of Bath Business News’ weekly Expert Panel series, Linda Donaldson, director at Bath-based Geometry PR, provides the answer.
Having a good reputation is something every business craves. Being known for providing a quality service or product is one thing, but building a profile that is trusted beyond the basic interaction of buying and selling goods is valuable to the sustainable and successful growth of your business. 
You don’t have to be listed on the stock exchange to understand or see the importance of this value. A business that has a good reputation in an industry, community or with key stakeholders is likely to achieve its objectives more easily.
For example, customers who prefer doing business with you will influence other potential customers by word of mouth, suppliers will be more likely to trust you and stakeholders will prefer to deal with you ahead of others. Employees like to work for companies that have a good reputation, which means they are easier to retain and attract.
Reputation is measured more on how your business behaves operationally as well as by communication practices. It is measured both ethically and financially, in the good causes you support, the leadership and management of the organisation, the way you treat staff and customers, and on the quality of the service or products you provide. It is the consistency of those actions that builds a solid business reputation.
Every business should prepare a cohesive communication strategy. This ensures you regularly and consistently communicate both internally and externally with the key stakeholders of your business. Get the message out there wherever you can, be that on your website, marketing materials, in press articles, via social media and when networking. Preparing a strategy should not necessarily imply a big financial investment for your business. Your business’s size and audience will determine the level of resource required to implement a campaign that is appropriate for you.
Reputation is hard to build and quick to lose. Having a strategy in place that is understood by everyone in the business and appropriately communicated is your first step in the right direction to building and maintaining a valuable reputation.
Not sure where to start? Our strategy development package is designed for businesses, large or small, and will help you get your reputation on the right track. For more information please contact Linda Donaldson at Geometry PR on 01225 422051 or by email linda@geometrypr.co.uk.
