The power of social media
12/02/2024 • Agency news
The text you are about to read was written by Milena Avramović-Bjelica, co-founder and executive director of Chapter4 Communications Consulting, for InStore magazine.
Warren Buffett once said "It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently".
And indeed, it’s true. In the world we live in today, where everything is connected and news spreads at the speed of light from one side of the planet to the other, the question is no longer whether you should be on social media, but how to communicate your business and values—values that you must not only advocate for, but live—on social media. Just one negative opinion, comment, or post can quickly spiral out of control and irreparably damage your reputation.
Warren Buffett once said "It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently".
And indeed, it’s true. In the world we live in today, where everything is connected and news spreads at the speed of light from one side of the planet to the other, the question is no longer whether you should be on social media, but how to communicate your business and values—values that you must not only advocate for, but live—on social media. Just one negative opinion, comment, or post can quickly spiral out of control and irreparably damage your reputation.
Social media is a tool that helps both brands and companies connect more easily with their customers and audiences. It has opened an entirely new dimension in communication, thus becoming a powerful tool that affects and shapes a brand’s reputation—not in five minutes, as Warren Buffett says, but in seconds. That is why it is crucial to have the right strategy and tools at your disposal. The key is to recognize negative reactions as soon as they arise and address them before they escalate.
Whether you engage in the discussion or not, there is already a whole narrative about you or your brand on social media, discussing the advantages and disadvantages, what someone likes or dislikes, your stance on social responsibility, environmental impact, treatment of employees... literally everything you think about yourself is already present and being analyzed on social media.
It’s clear to everyone that you can’t control the narrative, but what you can do is take steps to place your brand, company, or yourself in the best possible position through truthful, clear, and transparent communication. What works well for brands and companies is connecting with users in a more personal way, which builds trust, loyalty, and ultimately credibility. I read a study showing that 64% of users who feel a close connection to a brand are willing to pay a higher price for its products and services.
That’s why it is important to build long-term relationships with customers and nurture positive communities on social platforms, as that is how reputation is built. A brand, company, or individual’s reputation reflects how users perceive that brand, individual, or company, their values, and beliefs, on platforms like X, TikTok, Instagram, Facebook, LinkedIn, YouTube…
Social media is where users share their opinions, often negative ones that attract the most attention. Whether it’s anger over inflation, political issues, negligence, natural disasters, or celebrating positive moments like sports victories or socially beneficial actions, the conversation starts on social media, and the consequences of that conversation often carry over into traditional media. That is why social media plays a huge role in the reputation of a brand, company, or individual, and reputation management must begin on social media.
As I mentioned earlier, the key is in the brand reputation management strategy, which requires the right tools to sift through data and discover what your users are saying about you. AI can be very helpful here, as well as other tools that collect and analyze data. Carefully monitoring what happens on social media helps protect the brand from reputation damage and bad publicity.
Whether you engage in the discussion or not, there is already a whole narrative about you or your brand on social media, discussing the advantages and disadvantages, what someone likes or dislikes, your stance on social responsibility, environmental impact, treatment of employees... literally everything you think about yourself is already present and being analyzed on social media.
It’s clear to everyone that you can’t control the narrative, but what you can do is take steps to place your brand, company, or yourself in the best possible position through truthful, clear, and transparent communication. What works well for brands and companies is connecting with users in a more personal way, which builds trust, loyalty, and ultimately credibility. I read a study showing that 64% of users who feel a close connection to a brand are willing to pay a higher price for its products and services.
That’s why it is important to build long-term relationships with customers and nurture positive communities on social platforms, as that is how reputation is built. A brand, company, or individual’s reputation reflects how users perceive that brand, individual, or company, their values, and beliefs, on platforms like X, TikTok, Instagram, Facebook, LinkedIn, YouTube…
Social media is where users share their opinions, often negative ones that attract the most attention. Whether it’s anger over inflation, political issues, negligence, natural disasters, or celebrating positive moments like sports victories or socially beneficial actions, the conversation starts on social media, and the consequences of that conversation often carry over into traditional media. That is why social media plays a huge role in the reputation of a brand, company, or individual, and reputation management must begin on social media.
As I mentioned earlier, the key is in the brand reputation management strategy, which requires the right tools to sift through data and discover what your users are saying about you. AI can be very helpful here, as well as other tools that collect and analyze data. Carefully monitoring what happens on social media helps protect the brand from reputation damage and bad publicity.
