A note about this presentation

Following are notes from a brief presentation to the Randolph (NJ) Chamber of Commerce. I did my speaking notes in PowerPoint because I find it an easy way to organize my thoughts and create notes. The presentation, however, was strictly verbal and not done with PowerPoint. Because what follows are speaking notes, they’re not pretty and they don’t follow good visual presentation practices.

Doug Fenichel, APR

REPUTATION: YOUR MOST POWERFUL

SALES TOOLRandolph Area Chamber of Commerce – Nov. 19, 2015

Introduction■ President of my own firm, In-House Public Relations, since 2011

– Homebuilding, real estate, public safety and healthcare– Clients have included: Greentree Development, K Hovnanian, D.R.

Horton, Morristown Parking Authority, Pizzeria Uno– Media relations, government relations, special events, social media,

crisis mgmt.■ Worked for companies such as K. Hovnanian Homes, Saint Clare’s

Hospital and AT&T■ Past president, ethics officer for PRSA; 2nd VP Assoc Affairs Metro; Pres

CAPC■ Adjunct Professor of Communications at Montclair State College■ Paramedic and firefighter

Agenda

■ What is your reputation■ Why is it important■ 10 Ways to build your reputation■ 10 ways to leverage it

So what is your reputation?

■ Reputation is the emotional connection between your business and people

■ Your reputation is measured by trust, respect and the good feeling people get from doing business with you.

The State of Trust

■ Trust has fallen on some hard times■ Lots of studies on trust

– I like the Edelman Annual Trust Barometer– Looks at several countries, including the United States

■ 2015 studies had some bad news

The State of Trust

■ 63 percent trust NGOs…down from 66 percent last year■ 57 percent trust business ….down from 59 percent last year■ 51 percent trust the media…down from 53 percent last year■ 48 percent trust the government…up from 45 percent last year

■ From dismal to worse.

The State of Trust

■ Search engines are the most trusted medium– Online search trusted by 72 percent– Traditional media – 64 percent– Hybrid media – 63 percent– Online media – 59 percent– Owned media – 57 percent

The State of Trust■ Who do you trust?

– Friends and family – 72 percent– Academic expert – 70 percent– Companies I use – 60 percent– Journalists – 53 percent– Elected officials – 40 percent– Celebrities – 34 percent

■ Credibility– Academic or industry expert – 70 percent– Company technical expert – 67 percent– A person like yourself – 63 percent– CEO – 43 percent– Government officials – 38 percent

Why do we need trust?■ So trust is in trouble■ So what? Why is trust important?■ Why should you care?■ There is a solid return on investment in building trust and

earning a good reputation

Why do we need trust?■ Trusted companies:

– 80 percent chose to buy products or services– 68 percent recommended to friends, family & colleague– 54 percent paid more for the same product or service– 40 percent defended the company– 28 percent bought shares

■ Untrusted companies– 63 percent refused to buy– 58 percent criticized to friends/colleagues– 37 percent shared negative perceptions online– 18 percent sold shares

How do you build your reputation?1. Use ethical business practices2. Take responsibility for your actions

1. Customer service2. Crisis3. Issues

3. Be transparent4. Listen to your customers in person and online5. Treat your employees well

How do your reputation?

6. Put customers ahead of profit7. Communicate about the state of your business8. Engage your customers9. Offer good quality goods and services10. Find ways to tackle social and community issues, esp in your

backyard

How do you leverage your reputation?1. Know who’s watching: customers, regulators, investors, competitors,

enemies2. Understand how important each (and subsegments) are to your

business.3. Engage them

1. Know your messages2. Deliver the right message to the right people at the right time via

the right media3. If you don’t tell your story, someone else will

4. Use a variety of media to deliver your messages5. Educate, don’t just sell

How do you leverage your reputation?6. Give back to the community7. Think about your business in 3 ways: financially, legally and

reputationally8. Solve problems9. When talking about your business, align with academics, NGOs and

experts10. Offer top-quality goods or services and be able to demonstrate their

quality through independent tests.

Leveraging reputation: Bonus point■ Ask for help

– Use a professional to help build and defend your reputation– Engage across a variety of media at a different level than

advertising– Have a professional help you crystalize your messages and

deliver them across various media to demonstrate expertise, commitment and ethical behavior

■ Will help you use your reputation to build your business and thrive in a time that is increasingly contentious and hypercritical in a very public way.

Q&A

(Ask for questions)

Doug Fenchel, APRPresidentIn-House Public RelationsFlanders, N.J.(201) 575-1538doug@inhousepr.biz