Your business already has a perceived reputation, and here\u2019s why you should care\u2026<\/i><\/b><\/p>\n
Merriam-Webster Dictionary defines reputation as the \u201coverall quality or character as seen or judged by people in general.\u201d<\/i><\/p>\n
So what does your reputation have to do with marketing? Lots, but I\u2019ll just touch on one interesting term that might be new to you: \u201cCause Marketing.\u201d<\/p>\n
In the book Zilch: How Businesses and Not-For-Profits Can Get More Bank with Less Buck<\/b>, Nancy Lublin defines this term as \u201ctrading on the goodwill of a brand.\u201d This looks different when crossing the divide of for-profit & not-for-profits, but the reasoning remains the same:<\/p>\n
How can sharing a reputation with another organization affect your business?<\/p>\n
To put it in general marketing terms: How does co-branding affect you?<\/p>\n
You know that quote, \u201cYou are the people you surround yourself with?\u201d<\/i>\u00a0 Well, it applies in business too.<\/p>\n
In the not-for-profit sector, this critically impacts who an organization may accept donations from, as the reputation of another organization could positively or negatively affect its own. Businesses who share a reputation with certain non-profits might also benefit as being seen as more \u201cgenerous<\/i><\/b>\u201d or \u201ccommunity-focused.<\/i><\/b>\u201d<\/p>\n
What about co-branding with another for-profit business?<\/p>\n
Many partnerships have a positive impact on reputation. Just think about the number of fast-food chains that have \u201cteamed up\u201d with other restaurants or products.<\/p>\n
You know that cheap toy your kid got on the last drive-through run? The fast-food restaurant got your money and your child\u2019s undying devotion, and the toy company is now represented in your child\u2019s vocabulary. That\u2019s good marketing.<\/p>\n
So think on this one:
\nDo you share your reputation?
\nDoes it help or hinder business?
\nCan you capitalize on that connection?
\nAre you co-branding when appropriate?<\/p>\n
The next time a partnership opportunity comes up, think it through!<\/p>\n","protected":false},"excerpt":{"rendered":"