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November 28, 2005
Participate in the Reputation Marketplace
Posted by John Winsor
I’ve been thinking a lot about the power of reputation and the potential it has to have a disruptive effect on marketing. The fluid reputation marketplaces, like ebay and Amazon, have certainly challenged the power of branding.
Because reputation can play such an important role in the way people relate to brands and companies, it’s important to think about how to make sure you stay engaged in managing your reputation in this bottom-up economy.
Here are some things to think about:
Research Your Reputation – Think about what kind of reputation your company has. Is the internal view of your company consistent with the external view?
Understand Your Reputation – Who really owns your products and brands: you or your customers? Is your company ready to acknowledge the illusion of control and start to listen to what people really have to say about you and your products?
Tap Into the Conversation – There is a current conversation going on in the world about your company. It’s hard to really listen to the conversations that are happening in the marketplace unless you get out of your office and seek them out.
Let Go – The idea that you can completely control your reputation is another illusion. While it can be valuable in the long term, try to let go now and then and focus on the relationship with your customers in the context of the journey. Enjoy the day-to-day experience.
Participate in Improving Your Reputation – The best way to start participating is to ensure that the actions of your company are consistent with your philosophy. Do you do what you say you’re going to do?
Comments (9)
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1. olivier blanchard on November 30, 2005 02:18 AM writes...
Cool post. I like this whole Corante idea! Nicely done.
Permalink to Comment2. Rob on December 4, 2005 11:00 AM writes...
The fluid reputation marketplaces, like ebay and Amazon, have certainly challenged the power of branding.
Isn't it more that they've managed to embed this into their overall brand strategy, and it's become a greater part of their brand. I'm not sure I'd term it a challenge to the power, but increasing the power of the participants.
Each person that particiaptes (especially in terms of EBay) has a stake in their own reputation as well as the other party in the deal. And therefore, each participant becomes a part of the 'brand' in how they define themselves to other participants.
Permalink to Comment3. Leslie on December 4, 2005 06:31 PM writes...
Amazon is an excellent example of reputation. A survey done at M.I.T. in the U.S. found that even though people can find products for cheaper prices elsewhere, they still choose Amazon because of its reputation for speed, reliability and trust. That is pretty big endorsement for how reputation can be a company's most competitive asset. lgr
Permalink to Comment4. corn on December 5, 2005 11:02 AM writes...
reputation !
you expressed it pretty good, nice done!
Permalink to Comment5. David Evans on December 9, 2005 11:07 AM writes...
Ebay's reputation system represents the perceptions of buyers and sellers. It does not directly reflect on Ebay's reputation itself.
Reputation management sevices like Opinity are working with identity management players like SXIP while others like Identity Commons are leading the "open profile" movement. I think this is closer to what consumers will prefer, not necessarily to be "part of the brand" but to have portable, persistent identities, complete with reputation management, and adjudication services, which can be exposed, or not, on services we choose to trust.
Permalink to Comment6. Nishad on December 13, 2005 03:54 AM writes...
just wondering if you meant reputation of sellers at eBay. How since rarely do people who bid auctions have a first hand knowledge of the seller. And that seller reputations are a matter of how buyers rate them. So if a seller has screwed up in the recent past, his reputation takes a hit...
Permalink to Comment7. Susan on December 16, 2005 05:17 AM writes...
Great info! Maybe it's offtopic, but i just wanted to say, that O, it's really interesting to read everything this with comments... You,professionals, discuss here a lot of interesting things on different news =). Thanks =)
Permalink to Comment8. Andres Serron on February 28, 2006 11:05 AM writes...
www.sivcode.com BreakBeat Uruguay
Permalink to Comment9. Allison Trump on April 8, 2006 05:23 PM writes...
This is cool, you have to try it. I guessed 40680, and this game guessed it! See it here - http://www.funbrain.com/guess/
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