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:
- 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:
- Use of search engines to monitor the reputation of one’s company
- Use of search engines to monitor the reputation of other companies
- Building trust with customers and the general public
- Trust-building is the most important part of reputation management.
- Provision of quick, professional, and honest response
- Having a well-elaborated crisis communication plan
- Transparency
- 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