Silicon Valley is still the World’s Innovation Centre, acting as a global nucleus of multi-billion-dollar tech brands like Apple, Google, Netflix, Airbnb, and Oracle. While these are all successful businesses through their products and services, they have all – for the most part – also had great success in maintaining their reputations.
When considering this, I had a bit of a light bulb moment – quite literally. I recently read that the longest lasting light bulb in the world is 117-years-old, is also in California and has burned for more than one million hours, and it got me thinking about how this bulb has lasted this long and what it can teach us about maintaining company reputations.
The secret to this ever-shining bulb is constant maintenance, quality materials, careful handling, and infrequently being turned off and on – and these principles all apply in a metaphorical way to reputation management too. Don’t believe me? Here’s my four components to keeping your reputation – and brand – alive and burning.
1. Drive it forwards
Like a 117-year-old light– a good brand needs constant maintenance. You might have the market share or the highest share of voice now, but if you don’t work hard to stay at the top, competitors and new companies will catch up and overtake. People are drawn to brands that continue to move with the market and trends around them, and those that adapt and put themselves out there to try new things.
Use your communications to stay at the forefront – you can’t be complacent and assume you’ll maintain popularity without any hard work. You could model this on a company like Netflix, which had its humble beginnings in the late 90s as a mail-order video-rental service and is now one of the biggest film and TV streaming services around. While the business itself is successful, people also know it as a brand that constantly brings out new content, keeps up with trends, and moves with the world around it. However, what’s also important about Netflix is that it plays to its strengths – and it’s critical your organisation knows its strengths too.
2. Build on strengths, but handle with care
As your organisation grows, you’ll find that you become stronger in some areas that others. This can be handy for winning new business, but it can also cause problems if there’s misalignment between what people know you for and what you want to be known for.
If your company is still growing, using communications and careful messaging to promote the different areas of the business can help stop you being pigeon-holed into one speciality. However, if your company has a heritage in a particular service – don’t dump it entirely. You don’t have to be defined by it, but if it’s what made the business successful in the first place, use it to your advantage. When innovating, consider how your communications can help give legacy products or services a makeover or new light and take them to the next level – just be careful of getting distracted by the ‘shiny new thing’ when planning your strategy.
3. Avoid ‘shiny new thing’ temptation
‘Shiny new thing’ syndrome is the idea of moving on from one brand new idea to another – and it’s pretty common. For instance, you might switch off an approach to your social media strategy that’s worked well so far and turn on a brand-new approach that’s untested but seems promising and new because everyone else is doing it – it’s the ‘shiny new thing’.
But what’s the result? You get a basic understanding of different approaches and strategies to your communications, but you won’t have an in-depth understanding of any – which you would have if you’d stuck out the original approach and refined it. You need to give your planned approach a chance – see it out, take time to analyse and improve on the results. An element of experimentation is ok, but it’s best to keep refining approaches so you can learn rather than guess.
4. Your power source
While all these areas are important to consider in innovation, your organisation also can’t forget about the people who are making the innovation happen – your quality materials, your energy and your customers. They can have a bigger influence your company reputation than you may expect. Consider a company like Uber, which has had its innovative and ‘cool’ reputation tarnished in the past couple of years by sexual harassment cases. It’s still a dominant company, but a huge number of consumers chose to boycott the brand in the wake of those cases.
You need to work with your HR team to nurture the people – your fuel and energy power – who are driving your business forward, listen to their concerns, and act on them. It’s not just about keeping a consistent and exciting external brand in place, but also about using your communications to create and maintain the best possible internal brand, because that’s what is reflected externally.
While not every company can be as big as the Silicon Valley giants, maintaining your company’s reputation, demonstrating how your company is innovating, and looking after your team will enhance your longevity and give your organisation the best chance of survival – both in a business and reputation sense.
Shine bright, don’t dim the light.