I have Google Alerts to thank for this topic. This is proof that sometimes we lose sight of the forest for the trees. With all of our discussion and study on corporate reputation management, it is easy to overlook the importance of your industry’s reputation. Truly, all the individual ORM in the world won’t make a difference if the public opinion of your industry reaches record lows.

Perfect example: oil and gas drilling/development. It is a critical industry for the continuation of global industry and society as we know it. Despite the obvious need and limited supply, oil and gas companies get a bad rap for more than a few reasons: oil spills, gas pipe leaks, water conservation, unsightly rigs in suburbia and in nature, the price of gas, and the announcement of record ExxonMobil profits during the price increase.

EnerMax Inc. recently posted an article about the popular misconception of gasoline price gouging in the past few years. It was a wise move on the part of the company since protecting the good name of their industry is in the best interests of their business. When public perception of oil and gas companies is unfavorable, investing and partnering with these companies on new drilling projects can reach all-time lows. Rebuilding customer confidence is essential to corporate success.

Very few companies concern themselves with strengthening the reputation of their industry. Those who do, however, are the thought leaders of their industries. They are the pacesetters. Whoever does go public will affect public perception. If a company is going to turn the tide in favor of your industry, don’t you want that company to be you? After all, wielding that influence will surely set you apart from the competition when it comes to conversions as well.

When public opinion is down, conversion rates drop. When consumer confidence soars, stocks rise. Developing an industry reputation management strategy is a win-win scenario. The only question remaining is: will you be a leader in your industry?

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