Katherine B. Quinn is Chief Strategy and Reputation Officer of U.S. Bancorp. Ms. Quinn has served in this position since joining U.S. Bancorp in September 2013 and has served on U.S. Bancorp’s Managing Committee since January 2015. More on Ms. Quinn below.
Reputation is one of the greatest assets for any organization. A strong reputation doesn’t happen by chance. It must be managed and protected. In order to do that effectively, it must be measured. Measuring the movements of your reputation – either improvements or declines – is often neglected by organizations, even though everyone agrees with how critical a strong reputation is to the long-term strength and success of an organization.
For more than 150 years, U.S. Bank has earned a strong reputation by creating a relationship of trust with our customers. A relationship that is strengthened, reinforced or weakened with every interaction we have every day. Our customers trust us with their financial goals and objectives. While each customer has their own goal – buying a house, paying for college or starting a business – they all rely on us to keep their financial future safe and secure. We take this responsibility very seriously. Our core values and ethics drive every interaction, process and decision we make.
This ultimately drives our reputation. And we measure how we are doing every month. These measurements are the barometer that allows us to forecast changes in the climate – good or bad – and adjust accordingly. When an organization lives their values and ethics it strengthens their reputation. As the Chief Strategy and Reputation Officer, I know how important a reputation is to a brand. I also know how quickly a reputation can be damaged. It starts with your employees. You need to strongly and clearly define your values, and then you need to be as thoughtful and committed to living your values and ethics with your employees as you are with your customers. If they don’t feel it, it will show in every customer interaction your employees have.
Measuring your reputation can provide important information about how your customers perceive you and where opportunities to do more exist. While difficult to measure – reputation is 70 percent who you are and 30 percent what you sell – the data and insights you garner can give you a strategic roadmap that will drive your business forward. Start with establishing your baseline. Determine what is most important to you as an organization.
What drives the company and your reputation? Is it the quality of the products you produce? Your high ethical standards? Your ability to provide exceptional service? Use this information to start your measurement process. You can always build and adjust as your measurement process becomes more sophisticated.
Establishing a baseline measurement, however, is critical.
Click here to download the full article from our Q3, 2016 issue of Ethisphere Magazine.
About the Author
Katherine B. Quinn is Chief Strategy and Reputation Officer of U.S. Bancorp. Ms. Quinn has served in this position since joining U.S. Bancorp in September 2013 and has served on U.S. Bancorp’s Managing Committee since January 2015. From September 2010 until January 2013 she served as Chief Marketing Officer of WellPoint, Inc. (now known as Anthem, Inc.), having served as Head of Corporate Marketing of WellPoint from July 2005 until September 2010. Prior to that time, she served as Chief Marketing and Strategy Officer at The Hartford from 2003 until 2005. Click here to view her LinkedIn profile.