Social Networking Media on Companies’ Reputation Management in Business Practices

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Title of Presentation

The title of the presentation is: Social Networking Media on Companies’ Reputation Management Practices.

Description of Business Audience

The business audience consists of: company executives, communication officers, public relations managers, and entrepreneurs.

Introduction

Social media is an important tool in the management of a company’s reputation. It can either harm a company’s reputation leading to loss of sales or boost its reputation thereby enhancing its profitability (Madden & Smith, 2010; Vahanvaty, 2014).

Thesis Statement:

As an integral part of customer relationship management (CRM), social media is currently the most important tool for reputation management. As a tool, social media can be used in reputation management through:

  1. Social media monitoring to gauge public opinion and put remedial measures in place before the company’s reputation is irreversibly spoilt. This can be done by:
    1. Use of search engines to monitor the reputation of one’s company
    2. Use of search engines to monitor the reputation of other companies
  2. Building trust with customers and the general public
    1. Trust-building is the most important part of reputation management.
  3. Provision of quick, professional, and honest response
  4. Having a well-elaborated crisis communication plan
  5. Transparency
  6. Ability to take care of criticism

Body:

Social media can harm a company’s reputation through negative reviews, negative comments, hate sites, and negative media coverage. On the other hand, positive reviews and comments can help build a company’s reputation. Effective management of the company’s reputation is thus important and can be undertaken through social media monitoring, trust-building, provision of quick, professional and honest responses, and a well-thought out communication plan. Transparency and accountability on the part of the company is also a critical ingredient in the effective management of the company’s reputation. Companies need to also have the capacity and willingness to handle criticism without resorting to negative activities (Vahanvaty, 2014).

Conclusion:

Social media is an important tool in the management of a company’s reputation. It can either harm or boost a company’s reputation thereby affecting sales and profitability and should be leveraged to ensure that the reputation of the firm does not suffer from public odium.

Visual Explanation:

Figure 1: Integral aspects of social media management

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