Measuring confidence
Confidence - it's a good thing right?
So what happens when it seems to pack it's suitcase and leave the building?
Reputation is a carefully balanced 'thing'. When confidence soars, the performance of the company, brand or product is seen as high and the value goes up. But (yes there's always a but) if the confidence isn't there for one performance, one sale, one campaign - in today's market, the value of your stock, reputation and brand falters. There are always lots of reasons too - the wrong kind of rain, leaves on the line, my dog ate my homework (still there? Stay with us...).
So when should you take action?
The answer is always to analyse and measure as you go. If you're running a marketing campaign, measure how many people saw it, create a funnel and from the number of people who saw the campaign - how many people viewed the product/service online, how many people enquired or made contact directly etc. Now you can really measure the effectiveness of your activity - was it a bad day at the office or did you do better than you originally thought? If things aren't going well today, change things around tomorrow and measure, measure, measure. Your strategy needs to work for you.
So when your favourite football team are having a bad day at the office, one bad performance you kind of forgive, but a losing streak can damage the brand, cause fans to turn off and ultimately erode its value and reputation.
Act quickly to protect your reputation, brand and value in the market.