10 Eye-Opening Reputation Statistics for Every Leader and Entrepreneur
Winning in the Reputation Economy requires leaders, entrepreneurs and any individual looking for success to be vigilant in growing, protecting and leveraging one of their greatest assets – their reputations!
Every day we see, hear or read about people who are not paying attention to how their actions and decisions are negatively impacting their business, careers and organizations. A critical key is understanding the ways in which our reputations are tied to every aspect of our lives – and the positive, as well as negative, impact it will have over our ability to succeed.
Shakespeare even knew the power of reputations –
“Defend your reputation, or say farewell to your good life forever.”
My intent in sharing these 10 eye-opening reputation statistics for every leader and entrepreneur is to deliver a catalyst for how you can proactively develop, protect and evolve your reputation to help you achieve your goals.
Here they are: 10 eye-opening reputation statistics for every leader and entrepreneur
60% of a company’s market value is tied to its reputation
84% of employees would consider leaving their current job if offered a job by a company with an excellent reputation
69% of job seekers would not take a job with a company that has a bad reputation – even if unemployed
70% of U.S. recruiters and hiring managers have rejected candidates based on information found online
50% of a company’s reputation is tied to the CEO’s reputation
78% of consumers trust peer recommendations; 14% trust advertising
84% of marketers believe that building trust will be the primary focus for marketing efforts in the future (do you trust people with bad reputations?)
58% of executives believe that reputation management should be addressed, but only 15% actually do anything about it
4 out of 5 consumers changed their minds about a recommended purchase solely on negative information they found online
33% decrease in shareholder value of an organization within one year of a crisis situation becoming public
Because I am a big believer in over-delivering, here are two additional statistics that need to be on your radar and developed every day!
100% of your referrals are based on reputation
100% of your employees are your reputation ambassadors
As a leader, entrepreneur or anyone looking to succeed, here are 6 key takeaways as you digest the data above!
1. Cultivating your customer relationships will not only drive greater life-time value (which according to studies is 10x the value of their initial purchase), but will also increase your referral pipeline
2. It’s not just your behavior (good or bad), but your employees behavior that becomes the reputation of your organization
3. Trust is one of the core components of a strong reputation and is a business accelerator in the Reputation Economy
4. Your reputation (and that of your company) is a market differentiator in attracting and retaining top talent
5. What you post on Social Media channels will be reviewed and can just as easily shut a door to opportunity as it can open one
6. You must know the online conversation/comments about you, your brand, your people and product(s) and address any negative feedback immediately