Navigating the reputation economy
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Copyright © 2011 Reputation Institute. All rights reserved. MAY 11th 2011 NORWAY : NAVIGATING THE REPUTATION ECONOMY
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Managing Director Henrik Strøier i Reputation Institute International gir litt bakgrunnsinformasjon om omdømmeanalysen til Reputation Institute
Transcript of Navigating the reputation economy
Copyright © 2011 Reputation Institute. All rights reserved.
MAY 11th 2011
NORWAY : NAVIGATING THE REPUTATION ECONOMY
building on facts & feelings
Research Advice
‘The Reputation Standard’
Global Local
"It takes 20 years to build a reputation and 5 minutes to ruin it …
.. if you think about that, you'll do things differently.”
Warren Buffett
“…a reputation is a highly
efficient mechanism
of social control…”
a powerful gut feeling …
Niklas LuhmannProminent thinker on sociological systems theory
one global currency …
US Drivers UK Drivers Germany Drivers
drivers vary by market …
… what drives behavior ?
Recommend
Intent to buy
42%
39%
58%
61%
Recommend
Intent to buy
We like our ‘home’ corporationsbut every year the number of internationals in top 10 grow;
- In the UK the number is 5- In the US 3 are non American- In Ireland only 2 are Irish
global versus local
1
TECHNOLOGY
CULTURE
the big accelerator
strategic friction …
2Converting according to plan is more important than generating profit ;
- Noncore stakeholder gain influence- License to operate across the board - Establish a ‘shared motive’
Across 25 industries * in 50 markets * general public
an accurate indicator an accurate indicator
source; aggregated data from RI Global Pulse
o.88
GFI = .911NFI = .944
TRUST
ESTEEM
GOOD FEELING
ADMIRATION
PULSE
INTENT TO BUY
RECOMMEND
SUPPORT
WORK / INVEST
SUPPORT
NIMBY = growth blocker NIMBY = growth blocker
in an economy driven by trust the winners demonstrate the ability to
stay fairengage in dialogue
… and above all listen !
sustaining trust …
3
fighting its way back …
Adj-R2 = 0.845
10
15
20
25
30
35
40
45
50
55
60
65
70
75
25 35 45 55 65 75 85
U.S. Pulse Score
% R
esp
on
den
ts w
ho
Wo
uld
Reco
mm
en
d
lost momentumlost momentum
Pulse score
the winners obsess with creating multi stakeholder goodwill
and have all displayed extraordinary commitment to engage
… demand vs. goodwill
… to sum up
Increase your stakeholder focus !
Even “non-core” stakeholders can obstruct the license to operate
Make sure MarCom drives behavior
Brilliant advertising is never the goal
Break down the silos
Communication silos take on a life of their own.
Design a governance system
gather, analyze and plan for what stakeholder expect from you.
