Cecilie Lindum
PR Consultant and Project Manager
cecilie@publicity.dk
As the global economy is being affected by several vague factors, a good reputation is essential. According to the latest trend report by Reputation Institute, 70.2 per cent of leaders within the PR industry believe their organization’s reputation is more important now more than ever before.
Therefore, companies must follow and understand how to act on current PR industry trends to boost their reputation. We reveal the five most significant trends from the 2020 report.
Trend no. 1: Companies must ask themselves “why”?
The words “why” and “purpose” prevail in the communications industry. Even though many companies gradually manage to scribble down their values and visions, there’s a lag in communicating their purpose to the surrounding world. The report shows only 3.4 per cent of 200 companies say they have a strong purpose, indicating a gap between consumer expectations and the reality many companies face, which is why you should consider embracing the trend and asking yourself: “Why do we exist?” and “How do we communicate it?”.
Trend no. 2: We listen to influencers and opinion formers
In 2020, we still ride the wave of influencer success, a trend that dominates social media and the more traditional media where we continuously listen to private individuals, politicians, and experts. When we listen to the recommendations of others, we perceive their messages as more credible than those of a company. Influencers have set the tone globally in tourism, consumption, and environment industries. They also reach specific target groups.
Trend no. 3: ESG – ethical and sustainable companies
CSR has been a permanent part of annual reports for several years, but now the term is accompanied by the latest Environment, Society and Governance (ESG) trend. ESG has been used in the financial sector to assess sustainable and ethical investments, and now the term has gained a footing in companies’ risk management. More companies are beginning to see the benefits of working with ESG to create a more sustainable business abreast of bad publicity.
Trend no. 4: CEOs with a public voice
Preserving a company’s public image used to mean CEOs didn’t shout their opinions too loudly. That is not necessarily the case anymore. A new "CEO activism” communication style has made itself known among Danish CEOs. Many have embraced it by engaging in public debates through traditional media and social media such as Twitter and LinkedIn. The debate isn’t necessarily connected to the company either. It is not just about expressing personal opinions but creating a strong CEO brand and showing proactivity on social, political and environmental agendas. Ultimately, it will influence a company when a CEO appears sympathetic and portrays themselves as an opinion leader.
Trend no. 5: The employee profile should reflect diversity
Creating a good reputation is about what we communicate and what the company indirectly signals to the public. Here, the company’s employee profile may have greater importance than you think. If the company does not promote diversity, it can quickly find its way to the front pages of newspapers, thus resulting in a media shitstorm. The report mentions the global financial sector is especially challenged in treating employees and clients equally. Therefore, companies should consider how they secure employee profile diversity.
The five highlighted trends are a selection of ten trends from the report Global Trends in Reputation by Reputation Institute. The report is based on interviews with 200 leaders who work with reputation and represent 18 industries across North America, Europe, Africa, the Middle East, Asia, and Latin America with companies of different sizes based on income and number of employees.
