Top 3 Reasons to Implement a Reputation Management Strategy

reputation conceptual meterOnline reputation management can be described as the process of monitoring, identifying and influencing users who are talking about your brand. An effective reputation management strategy can increase brand awareness.

In today’s society, people are more likely to go online when they have a problem or require information regarding a specific product or service. If a company or organization’s brand reputation is negative online, it can seriously impact your success.

Did you know?

  • 92% of consumers read online reviews.
  • It costs 7x more to acquire a new customer than it does to sell to an existing one.
  • Customers who engage with companies over social media spend 20% to 40% more money with those companies than other customers.
  • 73% of people trust recommendations from friends and family, while only 19% trust ads.
  • A “star” rating is the #1 factor used by consumers to judge a business.

The stats above are just the beginning of why online reputation management is important. We have put together a list of the top three reasons to consider implementing a strategy for your business:

  1. Build trust and credibility. Gaining the trust of your customers/stakeholders is a major component of success. Consumers are discussing their purchases and experiences with their friends on social, review boards, etc. When they have a problem they will most likely spread the word about their experience. Unfortunately, (or fortunately in some cases), the internet enables these conversations to be seen by the masses. If you are responding to positive and negative reviews, you can show that you care about your customers.
  1. Protect your brand. Most companies and organizations maintain a website, social media networks and profiles on review sites. And although these are fantastic ways to market your business, it is important to remember that all of these accounts need to be monitored effectively. If a potential client or customer visits one of your web properties and is immediately confronted with negative feedback, they may decide not to work with you or purchase your products. To combat this, your online reputation management strategy should include responding to negative feedback and encouraging users to post positive comments about their experience with your brand.
  1. Increase visibility. As we all know, Google Search is incredibly competitive. Having your business or organization show up at the top of search results will definitely increase brand awareness. But you certainly do not want to show up first if you have a bad star rating. Working to establish a positive sentiment will help increase clicks to your website or social networks.

Comments are closed.