A “corporate reputation” describes observers’ collective opinion about a corporation based on its social efforts, environmental impacts, and business processes over time. As millennials become a larger component of buyers, corporations must consider this market’s desire to do good with their dollars. It is important to keep up a positive corporate reputation to keep encouraging new leads and conversions.
There are agencies that can assess corporate reputations and take steps to improve areas that need help. Social responsibility, high-quality products or services, and good people management can all enhance corporate reputation. Focusing on reputation is more important than ever, as consumer purchases from a brand today rely heavily on how good the consumer feels about supporting the corporation.