A good reputation is one of the most crucial assets for any organisation. It is also an important determinant of the company’s success and sustainability in the market. Goodwill is not built in a day; instead it takes years and years for companies to establish an unrivalled reputation for themselves in the business landscape. Due to the cut-throat competition prevailing in the Indian market, companies face the threat of diminishing their reputation overnight. In such a scenario, Public Relations (PR) and Reputation Management come to the fore.
This blog post gives a brief about the role of Public Relations in Reputation Management and also elaborates on the importance of strong and sturdy goodwill.
If the persistent problem of establishing a healthy reputation is not dealt with on time, it might result in companies losing their credibility and worth in the market. Hence, firms are now employing ‘Public Relations’ to build retain and manage their reputation in the intensively-competitive climate. Let’s take a bird’s eye view on Public Relations, Reputation Management and how effective PR can transform the image of organisations.
The term Public Relations (PR) is a broader concept that refers to the practice of managing the flow of a company’s vital information to the public. It is the way through which organisations effectively communicate with their target audience and the media.
Also read: What is Public Relations?
- PR maximises the exposure of companies in the market by giving them valuable media coverage and by establishing seamless connection with their patrons.
- PR works with the objective of informing internal as well as external stakeholders of the organisation about any new launches, partnerships, expansions or any other pivotal announcements related to the company.
The main aim of Public Relations is to establish a sturdy and unparalleled image of the organisation in the eyes of the public.
It refers to the control and monitoring of a company’s goodwill in the market. It is a part of ‘Public Relations’ itself and encompasses the entire ambit of managing the reputation of the company. It keeps track of any negative news about the firm hovering around in the market. By giving due focus to customer feedback, it helps companies fix umpteen problems related to their reputation.
Also read: What is Reputation Management?
Due to the advent of internet and scores of people turning tech-savvy, another concept of Online Reputation Management (ORM) has come to the picture which concentrates on establishing an impactful brand image for companies on the online platform.
Role of PR in Business Reputation Management
PR being a vast domain includes the concept of Reputation Management as well. Earlier, Reputation Management was a PR term but due to penetration of the internet, it got a separate status. Public Relations plays a remarkable role in managing the corporate reputation of the company. Hence, the role of PR in Business Reputation Management cannot be overlooked.
Public Relations involves organising effective communication campaigns, maintaining good relations with the media and promoting the company through the written word on blogs, newspapers or magazines. By mitigating strategic risks, it assists companies in improving their tarnished image.
Today, corporate reputation has become a key source of gauging the company’s success and sustainability. Ground-breaking image of companies has the power to impress not just the public but also the media and stakeholders associated with the company. PR and Reputation management are the talismans that metamorphose the reputation of organisations and create an aura of loyalty and honesty. An esteemed image has the ability to combat daunting challenges which companies face from time to time.
Public Relations provides scores of services to organisations. It aids firms in attaining an edge over their competitors by tracking and controlling the negative-earned media and employing positive media to renew and rebuild their reputation. The perception of public about the company is of utmost importance when it comes to making purchases, participating in events or publicising about the company. In such a case, it’s essential for organisations to focus significantly on maintaining the already built reputation or revamping the goodwill, taking it to an altogether different level.
- PR ensures top-of-the-mind brand recall, positions and repositions the brand and increases media visibility.
Giving mileage to the company’s publicity needs, PR through Reputation Management propagates an excellent image of the organisation.
By providing unmatched customer service, effective spread of information and long-lasting media relations, it cultivates and sustains the resilient image of the organisation. The trinity of diligent insights, strategic rigour and unprecedented precision of PR companies help in developing impeccable reputation for companies in the market.