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Business reputation is very important among your existing and potential customers. Companies that have developed a great reputation in the market can do their businesses peacefully and profitably.
We are living in a fast-paced world surrounded by technology. So, a company needs to understand what their customers say about its business or brand. Depending on feedback received from customers, a company must take substantial steps to protect its reputation.
It helps a company to achieve a great product-market fit, and this is what makes a company thrive on the market and gain more profit. In today’s article, we will guide you about reputation management. Read on!
What is Reputation Management
In general, reputation management refers to the company’s efforts to influence what and how customers think of its brand. Specifically, it involves monitoring your company’s reputation online and addressing the concerns of users. Using customer feedback, your team makes an effort to solve issues before they damage your brand’s reputation.
A customer-oriented company with a strong online presence must focus on what customers say about its business, products, and service. It plays a key role in improving your brand’s image and helps you acquire new customers.
The Importance of Reputation Management
Do you know 85% of consumers trust online reviews? It is a big percentage when it comes to the reputation of your company. Every three out of four customers trust a brand that has more positive reviews.
Over 60% of consumers do not buy a product or service if the company has more 3-star reviews instead of 5-stars. 1-star or 2-star reviews will completely ruin the reputation of your company.
Online reviews can either break or do your business. Studies highlight that most people will not buy from your company once they read a negative review. So, online customer reviews are important for your business and equivalent in their trustworthiness.
When customers consider your brand reliable, it helps increase the number of sales. According to Harvard Business School, businesses with a high reputation can generate 5-10% more revenue.
How online reputation management works
Online reputation management allows you to take control of conversations online. It helps you implement strategies and methods that will make things easier for your target audience.
For example, you can make your potential customers find the right materials, products, and services. When people search on the internet about your company, they will find the right content. However, this is possible when you have sophisticated online reputation management strategies and tools.
Ignoring your online reputation will create risks for your company. You may become a victim of a vicious cycle of rumors and misinformation. So, the purpose of reputation management on the internet is creating balance, counteracting misleading trends, and allowing companies to put their best material forward.
| Online Reputation Management | |
| Content | · Employee Stories · Customer Stories · Positive Reviews · Podcasts, Videos, Webinars |
| Authority | · Optimized Content · Shareable Content · Google Authorship · Engaging Content |
| Social Media | · Google+ · YouTube |
| Incentive | · Sponsored Content · Local Advertising · Brand Ambassadors · Affiliate Marketing |
| Publicity | · Media Relations · Blogger Relations · Influencer Relations · Investor Relations |
| Paid Media | · Facebook Paid Posts · Sponsored Tweets · Fan Acquisition · Lead Generation |
Online Reputation and Search Engines
Google has a market share of over 70% on desktop and 95% on mobile. There are over 65,000 searchers per second on Google or 5.5 billion searches a day. What does this mean? Well, it means approximately 80% of the world population, per capita, makes one Google search a day.
In general, online searches are about anything, which includes a company’s business, management, partners, products, services, information, etc. When people search for a company, its products, or management, they get SERPs results.
The information people get from the first page of Google will tell a story about your business. If you have got positive links, then people will trust you. On the other hand, if you have negative links, then they can lead to erosion of trust and may raise doubts.
Final Words
A negative result on Google or any other search engine can damage your company’s reputation. In contrast, a positive result or review can improve your company’s profile significantly.
Therefore, it is important to manage your online reputation and take serious note of digital assets before they become problematic. Sterling & Pope Marketing is a popular company that offers a wide range of marketing solutions, including online reputation management. Contact today and get your free reputation report.
