What Is Reputation Management and How Can It Boost Business Success?
Checking reviews about your company online is part of reputation management. But what is reputation management exactly? Learn all about it here!
Did you know 97% of business owners agree that reputation management is crucial to their success?
That sounds important – but exactly what is reputation management? Is it just monitoring social media accounts and online reviews, or is more involved?
If you want to attract, convert, and retain loyal customers, you can’t afford to be in the dark about reputation monitoring. Read on to learn more about this vital practice and how it will positively impact your business.
What Is Reputation Management?
Just like a person or a place, every business develops its own reputation over time. Thanks to the internet and social media, news about your business can spread like wildfire.
The question is – what are people saying about you?
Managing your reputation is exactly as it sounds. You go online and check review sites, Google, and social media accounts to see what customers are saying about you – good or bad.
If everyone is writing glowing reviews and tweeting about your latest products, fantastic! Business is sure to boom as a result.
But what if someone leaves a negative review about your company? How much does it really affect your business and your reputation?
How Important Are Reviews?
If you think one negative review can’t make much of a difference, think again.
Consider these shocking findings from a recent report:
- A business can lose up to 22% of customers from one poor review.
- Three negative reviews result in nearly 60% of customers lost.
- Four or more negative reviews can cost you over 70% of new customers.
Since 88% of people trust reviews as much as a personal recommendation, even one poor review of your company can have devastating results. This is why monitoring your online reputation and responding promptly (and professionally) to reviews is so urgent.
Results of Online Reputation Management
Let’s say you take our advice and diligently monitor your brand’s reputation online. What results can you expect to see?
1. Increased Sales
How many times have you bought something based on a recommendation from a friend?
The more “friends” your company has online, the more likely they are to recommend you to other friends. When your business earns a reputation for being trustworthy and professional, new customers will come streaming in.
2. Better Brand Recognition
Exceptional customer service is vital to any successful business today. By taking the time to reach out to reviewers – good and bad – they’ll see your brand as more than just a product or service.
They’ll see the people behind it too. Once that human element enters the picture, you’re well on your way to achieving better brand recognition.
3. Improved Online Visibility
One of the main goals of search engine optimisation (SEO) is to make your brand more visible online.
Reviews, shares, and tweets are all part of boosting your company’s visibility, but you’ve got to do your part, too. Engaging customers online and responding to reviews and comments all help to improve your SEO.
Final Thoughts on Reputation Management
So, what is reputation management? Now you know – and as you can see, there are a lot of factors to consider. Keep these tips in mind as you monitor your brand’s online reputation and your efforts are sure to be rewarded.
Don’t want to go it alone? Not sure where to start? Contact us today to discuss your concerns and see how we can help you (and your business) to succeed.