Access Intelligence – Why Reputation Management
Reputation is the overall estimation in which an organisation is held by its internal and external stakeholders based on its past actions and probability of its future behaviour. Research consistently shows that a good reputation demonstrably increases corporate worth and provides sustained competitive advantage, contributing to customer preferences and market valuations, as well as generating wider stakeholder support in times of controversy.
At the centre of building and maintaining reputation are communications that ensure that, as far as possible, the good is widely known and the bad explained, justified or diminished. Key to communications is the ability to identify, understand and engage the right audiences with appropriate messages via optimal channels. The global market size for software that supports this kind of communications management grew in 2016, and Europe now represents a third of the total market.
Traditionally, the market comprises four complementary segments (influencer databases, channel distribution services, media monitoring and analysis) that together make up a communications cycle. Though longer-term growth prospects for sub-segments rooted in traditional media (e.g. print media monitoring, newswires) are limited, consolidation of traditional PR with digital marketing means the four main communications market segments continue to grow. The main media monitoring segment, worth over a billion dollars globally, is growing but by nearly half as much as the database and analysis segments. The market for political and social media services is also growing, but much more significantly.