How to Manage Your Corporate Reputation Online

The Internet is becoming a dominant source of information both for consumers and for businesses.

Indeed, the latest research shows that people now spend more time getting their news online than from reading magazines. And, the use of online discussion forums such as Web logs and message boards has grown by more than 7,000% in the last four years.

Online discussion forums—commonly referred to as consumer generated media (CGM)—are increasingly being used by consumers to ratify or criticize products and brands. Because consumers use these online discussion forums to check out other consumers' opinions and experiences—for pre- or post-shopping advice—they are shaping the perspectives of millions of consumers globally.

These forums constitute a powerful viral medium that needs to be brought into the marketing fold. Clearly, this opportunity presents some unique challenges.

It would be fair to say that most companies don't have their arms around how to gauge the impact that these non-traditional methods have on their brands. That's because there are thousands of online sites and new message boards that can pop up from one day to the next, so keeping track of it all is a huge challenge.

However, accessing this information, interpreting it, then using it to spot emerging trends, manage the brand or monitor competitive activity can keep a business ahead of its competition.

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Fergus Hampton is CEO at Millward Brown Precis (www.mbprecis.com), a division of WPP Group (www.wpp.com).