Reputation Formula and ROI
Reputation = experience + actions + history + people
What the formula stresses is that it should be read from people back to experience. The most important method that a leader needs to use to convey this process is to manage relationships between the organization with the their stakeholders, including its customers. Over time this is how to manage reputation, to try and do so, especially in social media takes a consistent strategy
Strong Relationships = trust, commitment, satisfaction, control mutuality, exchange / control. It is easies to explained that most relationship start with the firm - stakeholder exchange, such as money for investment, product, or other exchanges but the important relationship to create is the communal relationship because its about loyalty.
With these exchanges in mind the following is a new way to define ROI
7 Steps of Reputational ROI
1. Define the”R” - define the expected results
2. Define the “I” - what’s the investment
3. Understand your audiences and what motivates them
4. Define the metrics
5. Determine what you are benchmarking
6. Pick a tool to analyze the data
7. Then to do the “so what"
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