Reputation is something that sticks longer with humans and it’s usually difficult to correct whether good or bad. In business, a first mistake could be pardoned and considered an oversight but when it becomes a reoccurring event, it becomes your company’s reputation. Once people get to know your brand for a particular thing, negative or positive, that image stays glued on your business until you’re able to create a stronger impression that is remarkable enough to replace the former. A bad reputation therefore tarnishes the image of your business.
The fact is customers never forget the kind of emotions they felt when they encountered your brand, how fast or slow you delivered, the process in which you got the work done either efficiently or otherwise. If they had a terrible experience caused with your brand, they would always remember.
Following the recent event of the Ethiopian Airlines crash of the Boeing 737 Max 8 jet, we realised the magnitude of a bad reputation. The Boeing 737 brand that had also crashed five months earlier during Lion Air flight generated a lot of bad publicity for the airplane manufacturer, Boeing. Due to the reoccurred misfortune, some countries have grounded the plane, labelled it unsafe and it has already cost the company its shares valuation, which dropped to 13% with the snap of the finger, in the stock market. It is a thing of certainty that people whose families died in the plane crash will always relive the grief anytime they hear Boeing 737. This has automatically put the Boeing brand on the black list of many potential passengers and even shareholders.
From the event, you would deduct that a brand’s reputation creates a certain perception of it among clients, stakeholders and its target market. Unconsciously, the type of reputation you have could stir several emotions in customers who try to patronise you. What they feel becomes what they would associate with your brand and eventually would turn out to be your brand identity.
Companies with bad public image run at loss and never make high sales most of the time. They are usually seen as not being trustworthy or reliable and also lose customer loyalty as time goes by which affects their relevance in the society they operate. It obviously points out that a bad reputation is one of the fastest ways to ruin any business even the greatest of them all.
For any business to thrive in its sector, it must pay attention to the kind of reputation it has earned from when it commenced. People would either connect or disconnect with your brand based on what you have been known for as a company’s reputation always guides the decision of prospective investors or clients.
For the Boeing brand, we think it would take a lot of product re-engineering, rebranding, remodelling and reassurance for it to gain back a good public image. What’s your take, do you think it still has any reputation left to build on?
Written by Jennifer Chioma Amadi
Do you want to build a remarkable brand that will leave a lasting legacy? We can help you structure your business the right way. Send an email to firstname.lastname@example.org
DO BUSINESS BETTER!