What has this got to do with SMEs? Everything! The survey concludes that the reputations of the top 10 companies contribute an average of 48% to shareholder value, with Royal Dutch Shell’s corporate brand reputation producing 52% despite many predicting that rival BP’s Gulf of Mexico disaster would hit the oil sector’s reputation hard.
So just think what a difference your reputation could make to you and your business in setting you apart from your competition.
The economic contribution of the corporate reputations of FTSE 350 companies account for 30% of all shareholder value, a rise of three percentage points over the past 12 months.
Simon Cole, managing partner of Bestra UK, reckons that corporate reputation is becoming increasingly important because sales, and therefore a company’s market value, could be affected by the actions of the companies behind the brands, which consumers are more aware of than ever before.
Improving your reputation is more straightforward and cost-effective for the small business than the corporate behemoths, especially when you consider how much easier it is for you to make quick decisions and how little your competition will be doing to differentiate themselves from you.
And as I've blogged before, as Shell proves - if it ain't broke, don't fix it.
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