Tom Feltenstein

For literally decades I’ve heard everyone from CEOs to media experts talk about the fact that any publicity is good publicity.  Their misguided premise is built on the idea that as long as your name is in the news, and it doesn’t cost you anything, that it helps your business. Not only is this not true, the wrong kind of publicity can have devastating effects on your brand and your bottom line. Look at the recent problems Toyota has had with cars accelerating unexpectedly. While it is true that the issue has become an international media frenzy, it has also devastated the positive and superior brand that Toyota spent most of the last century building.

A year ago if I’d asked you what you thought of Toyota cars you might have used words or phrases such as: reliable, well-built, or great resale value. But what you would say today? If I offered to let you test drive a Prius or Camry right now, would you hop in the driver’s seat or would you think twice? Now think about the fact that the negative news stories about Toyota didn’t really start in earnest until the Federal Government recall in January of this year. What took almost a century to build has been devastated by bad publicity in a short three months.

Don’t let this happen to your brand! It takes a great deal of time and energy to build and sustain a company image and you must fiercely protect it from issues and problems before they garner unwanted media attention. This includes handling issues right up front and ensuring that your relationship with your customers is maintained. If customers perceive for one second that they are your last concern, then your business will soon be six feet under and the media will be all too happy to shovel dirt on the grave.