In our current digital age, reputation is everything. From social media to personal blogs, how we present ourselves publicly constructs an indelible perception of our brands.
This is especially true for public figures. You could be a movie star, a healthcare leader, a social media influencer — you name it — your reputation is the key currency for how you’re viewed by the world. It means that any missteps you make can leave a potent mark on your brand. It can also impact the bottom line of companies you work with.
The reputations accrued by public figures, celebrities, thought leaders and influencers can make a serious mark on a company or campaign they partner with. How does a brand mitigate risk?
Enter the rise of reputation insurance. Boston-based startup SpottedRisk has launched a “reputational insurance” product that offers companies protection for celebrity scandals that might be spreading like wildfire online or gracing the covers of your supermarket tabloid.
Vulture recently profiled the company, showing how an era where #MeToo scandals and the viral release of celebrity mugshots can power days, even weeks, of bad publicity for a brand.
The publication interviewed SpottedRisks’ 33-year-old CEO Janet Comenos who outlined how her idea has flourished, recently earning the startup Series B funding for its next phase. For those unclear of what this is, it’s “like disgrace insurance, but for companies instead of people,” Vulture’s Boris Kachka writes.
There’s a reason why this has grabbed business leaders’ attention.
“One recent report found that reputational damage is the No. 1 risk that companies fear,” Vulture reports.
This also hammers home just why you might want to be mindful of how you conduct yourself in the public sphere. What you say and post reflects not just on you, but companies you work for.