One of the most important assets that your company has it the brands. It is what connects the your company with consumers. It can be as simple as a symbol, sign, term or a phrase with which the business enitity or person is connected. It is much more than the simplistic definition. Corporation spends years and perhaps hundreds of millions in building brands, because , the connection brings recognition and ultimately more sales. The brand is perhaps the most highly regarded intrinsic component of any business.
There is no coincidence or happenstance that makes the worlds’ top brand so valuable.
- When computers are mentioned, the first company that comes to mind is Apple, and estimates are that the brand is valuated at more than $70 billion.
- The Google brand which previously occupied the top position, is now in second position and is worth more than $48 billion.
- The Microsoft brand is valued at almost $46 billion.
It is easy to see why brands are so highly regarded, because tarnishing a brand can mean a very significant drop in sales as the reputation the the company has spent years and resources to build can be damaged.
Cyberspace can be cruel. It is easy to enter, there are no gatekeepers, organized anarchy may be an apt description, and it is easy to do good as well as bad. Industry and commercialization remains an extremely competitive environment Although the interpretation is more virtual or illusory than literal most of the businesses in any industry would love to “bury the competition”
Digital communications are here and are not going way any time soon. Communication and involvement in social media will become much more prevalent, until it is disrupted by another media. There was, and perhaps still is reluctance by many corporations to be involved with social media, and in many circles, it is still an unproductive waste of precious company time. Understanding of the overall picture appears to shedding a new light on how pervasive the and beneficial can be as information can be literally be disseminated at the speed of light.
The competitive nature of the business world often lead responsible individuals to forgo ethics and adopt a win -at- all costs attitude. There are no laws that protect the reputation of a company , and the truth is, however, given the high degree of anonymity at which malfeasance can be conducted, the Internet makes it easy to damage the reputation of any business.
The salient truth is that information about almost any person or business can easily be published and spread online, and it just as easy to publish truths as well as untruth about any person business or thing.
We have entered into a new arena and most business are not now focused on brand protection, and are still retroactive in repairing damages after sales have been lost.
A whole new industry has recently been developed that is concerned primarily with protecting and managing reputation online.
It is an area that needs constant activity, and the key to success in managing an online reputation is to be proactive.
One of the areas that now demands constant activity is in the area of social network. Although your business may not be involved in any social networking activity, what is being said about you as an individual or about your business, whether it may be true, untrue distorted or exaggerated, can, if left unattended, can easily destroy the reputation that was many hard years in the making.
The web can be a cruel place, where users must remain vigilant in order to avoid personal and professional attacks.