Reputations are built over a lifetime but can be destroyed in seconds. The brand represents a company’s reputation and, more importantly, an individual. Brands are selling points for entering into business and personal relationships.
Athletes, entertainers, company executives, and politicians pay money to create a brand but much more to rebuild and repair the reputation when damaging information floods the Internet. In some cases, the damage hurts a professional career, as in the case of former NFL quarterback Johnny Manziel who consistently was in the news with erratic behavior during and after the season, as described in detail by Kent Babb in his Washington Post article last month.
According to Kim Souza in the article, Wal-Mart Corporate Reputation Near the Bottom of the Retail Sector, negative public perception can also harm a business like Walmart, which has lost over $612M since 2003 due to the ongoing investigation that it cheated to fast-track its international growth.
The good news is that it’s not too late to learn these seven ways to protect a brand:
1. Operate with integrity.
Honesty is the best policy, but it is also a great practice to sustain a solid, upstanding reputation. If there is a problem, own it, address it and improve. This requires self-perception of an individual and genuine analysis of a company to determine where there might be loopholes in the sincerity and openness to those in personal and business relationships. Integrity is a great brand protector because it will cause customers, fans, investors, and employers to stick around when there is a mishap.
2. Be respectful of others at all times.
Brands are always crushed because of the hidden cameras and camera phones of others. There will be many encounters with people who prove that common sense is not shared. There will be plenty of occasions when someone “ruffles your feathers” and upsets you. Nonetheless, you must remain calm (e.g., no arguing, name-calling, and disrespectful words) because you never know who is watching or getting footage for social media.
3. Get rid of the dead weight.
Parasites can be people too. You can’t bring everyone with you as you go to the next level. People who don’t contribute to your well-being or the company’s success should be left alone. If someone is not helping, they are usually subliminally harming.
Learn that it is okay to be alone. Learn that it is an innovative business, personally and professionally, to not be around “yes men.” When protecting your brand, it is essential to understand that if you want to lead the orchestra, you must be able to turn your back on the crowd.
4. Make time and money your best friends.
Time is the most valuable asset. Once gone, it can’t be brought back. Money will come and go depending upon obligations and spending habits but will not always be easy to earn. People respect others who treat time and money like investments and watch closely if there is a valuable return on investment.
For instance, flashy individuals create a brand of being superficial and careless with time and money, attracting the wrong people – the users, losers, and abusers.
5. Disassociate from other negatively perceived brands.
When high-profile companies or people go through a scandal, the public opinion of the severity can sway consumer spending and result in revenue loss. No one knows this better than the highly acclaimed golfer Tiger Woods, as he saw endorsements drop in 2009 based on what was a private home matter that affected his brand.
According to Melanie Wells’ Forbes article, Accenture disassociated from him because they wanted other corporations to believe they valued morals, and staking so much equity in his character put them in an odd position. While I still think that was overkill, it is a valuable lesson that people will judge and categorize based on insufficient or good associations that impact the brand.
6. Safeguard all access to social media accounts.
For whatever reason, social media has provided open doors to people’s lives and created self-made superstars through selfies, commentating through Snapchat, and philosophers through tweets and posts. But one lousy post can cause a loss of followers (not so detrimental), revenue, business deals, and valuable relationships.
Do not let anyone access the passwords for social media accounts unless they are paid public relations or marketing personnel. If the reports are on your phone, tablet, or computer, always password-protect the devices when left unattended. Be sure to change the passwords at least twice a year.
7. Always be you.
Stand by your beliefs and morals. Do not allow outside influences to move you in a direction that makes you uncomfortable. The quality of a person or company cannot be compromised for something that is in style today but harmful over time.
Think about a time when you have watched someone pretend to be a friend of someone they later turned on for power. Was the power worth the new brand of being untrustworthy or conniving? Never lose yourself during change. In the long term, it is terrible for the brand.
