The Reputation Currency. What’s Yours Worth?
Powerful storytelling isn’t just about the message, it’s about the Reputation currency – how to spend it and how to earn it.
Reputation is the only currency that matters
Reputation can be destroyed in a minute. And with real time life happening, thanks to social media, reputation is the most valuable currency a business has. Money cannot save your reputation, but your actions and words can build it, protect it and help you manage it. Your reputation is your most valuable currency – without it your business cannot function. Not with employees, not with stakeholders or your customers. Reputation is about trust and no relationship or business succeeds without it.
The Reputation currency has to do with building up a trust bank with your stakeholders and that comes from being a good corporate citizen, being transparent with your consumers or stakeholders and owning up to mistakes when you make them. Think about companies that you have a favorable view of – what makes them stand out? They are consistent. They have built up a trust bank of goodwill in terms of reputation so when they screw up – you forgive them. Everyday you should be making deposits in your trust bank with your consumers, so when that crisis hits, you can make a withdrawal and still be on solid footing. Think of Apple, Samsung, Mercedes Benz, Toyota, or even some celebrities’ various mishaps.
Having a good reputation in terms of currency means that you think consciously about how you treat your stakeholders and customers and you obsess about staying true to your values and brand promise.
So think, what is your reputation currency worth – and what lengths will you be going to earn it every single day?
What Makes News? Good stories, facts and a good storyteller.
The message is what people remember, the message is your most important arsenal. Focus on developing key messages that articulate best who you are and what you stand for. Don’t spray and pray - this means don’t spray out your message and hope and pray that people understand it or get it or respond to it. Plan it carefully and with purpose.