Reputation management is defined as the domain of management, which deals with influencing the reputation and brand value of the individual or the group. It is a term, which is originated from the domain of public relations and has made its presence gracious all over the internet as well as in the social media for over the years. The extensive rise of importance of public relations in the world, reputation management has now been classified into two distinct groups – Online Reputation Management and Offline Reputation Management.
1. Offline Reputation Management
Off-line reputation management is defined as a process to manage the perception of the particular public entity outside the digital arena. It makes use of selected measures and control systems to obtain the desired result about what is the brand perception of the stake holders. The commonly used control tools for offline reputation management are media visibility, social responsibility, sponsorship and press releases.
2. Online Reputation Management
The abbreviated form of online reputation management is ORM. ORM is defined as that domain of management, which has its focus on managing the products and services search result in the digital arena. This domain makes use of a variety of e-devices and communities like Amazon, e-Bay, which have built in ORM systems to protect the systems by minimizing the threats from the possible malicious attacks.
3. Basic Principle of Reputation Management
Reputation Management works on the principle, which deals with customer engagement. Customer feedback and engagement have become an essential domain in the department of marketing for effective growth and progress. Passive selling no longer holds importance. It has provided opportunities to the customers to voice their opinion and feedback through regular interactions and presentation skills. Irrespective of the size of the business, the prospects and the clients talk about the brand. They make use of the various media, press releases, conferences or switch to using digital media like blog, social media accounts to share their reviews and experience with the world.
4. Important Benefits of Reputation Management
In this era of competition, when there’s an existence of tremendous competition all across the world, this concept of management has evolved successfully. It has now emerged to be a corporate necessity. It is one of those fast growing disciplines, which is widely known as the intangible asset. It has become one of the crucial sources of competition in the competitive world. Corporate governance regulations make use of the concept of this domain of management to aid the firms cope with the various scrutiny. It also plays a role in reinforcing the objectives of the brand. It helps in meeting the objective of the business as well as enhance profits and market share to a huge extent. Moreover, it plays a huge role in monitoring the confidence of the employees as well as steer the business to growth and prosperity.
5. Is it Ethical?
Well, the concept of ethics in Brand Reputation Management, especially in ORM is a topic of debate over the years. Many people say that it’s a tricky domain, which highlights the one-sided brand perception of the consumers. However, it has a huge impact on the buying decisions and brand value on the whole. It has its entire focus on creating assets by engaging target audience in positive way. Also, it’s suggested to counter the negative propaganda with certain factual information by drawing a line based on true facts and figures.
Thus, it’s important that reputation management turns to be a cumulative facts. This is because, it doesn’t evade the ethical boundaries, but becomes a criminal offense as well.