Does your company have a great reputation among consumers? If it doesn't, it could be hurting your business even more than you might realize.
One recent report suggested that a company's reputation can account for more than 60% of its total value. As a result, your business might not be worth as much as it would be worth otherwise simply because of its reputation.
With all of this in mind, reputation management is going to be of the utmost importance for your company. You need to keep a close eye on your online reviews, including both positive and negative reviews, to make sure your company has the best reputation possible.
Today, we're going to talk at length about what makes reputation management and online reviews so important to your company. Learn all about it below.
Before people patronize a business, they will usually sneak a quick peek at its online reviews. It doesn't matter if they're looking for a good place to eat dinner or trying to find somewhere to buy a car. They'll use online reviews to guide their decision.
People do this because many of them have come to trust online reviews as much as they trust their family and friends. One survey found that more than 80% of people currently trust online reviews as much as those in their immediate circles.
This alone should illustrate just how important reputation management is going to be for your business. If you don't have great online reviews to show to people, it isn't going to bode well for your business since they may feel like they can't trust you to do right by them.
When people look up your business and read through the online reviews for it, what are they going to find? This should be the first question you ask as part of your reputation management push.
If you see that they're going to come across nothing but positive reviews for the most part, it'll be a great sign. People are going to feel good about utilizing your company's products and/or services when it seems like you've provided other people with wonderful experiences.
Your ultimate goal should be to rack up as many positive reviews as you possibly can over time. It's going to give your business a good reputation and make more people want to patronize it.
If people don't see one positive review after another when they read through online reviews for your business, it could doom your company from now on. The more negative reviews that your business has, the less likely people are going to be to call on your company for its products and/or services.
You will want to actively work to reverse this trend ASAP. You should put together a reputation management plan that will include addressing any negative reviews you receive and striving to get more positive reviews to push the negative ones to the bottom of the list.
If your company has received some negative reviews in the past, it's obviously not going to be a good thing for your business. But it's also not going to be the end of the world.
You should look at these negative reviews as opportunities to show how much your company cares about its customers. It would be worth responding to as many negative reviews as you can so that you're able to make things right with unhappy customers.
If nothing else, this will show other people that you run a company that does its best to make things right when customers aren't satisfied. This could yield positive results for your business reputation in the end.
If you find that your company doesn't have many small business reviews at all, this could be almost as bad as having a bunch of negative reviews. It's going to make it appear as though you haven't done enough to give people a reason to leave positive reviews for you yet.
It might also make it seem as though your small business is just getting off the ground, even if that might not necessarily be the case. You should start to encourage your customers to leave reviews for you so that you're able to build up a collection of them over time.
Reputation management feels like such a tall task to many small business owners. They aren't sure where they should start when it comes to monitoring their reputation and working to improve it.
If you fall into this category, our firm offers reputation management services to small and medium size businesses. We'll work to get your business the online reviews that it deserves and ensure that your reputation is every bit as good as it should be.
Do you need a hand with reputation management? If so, we can provide you with the services that you need to improve your business reputation by leaps and bounds.
Our ReputationRave software make generating 5 Start reviews easy. It can then take those reviews and put them front and center as 'social proof' helping you generate more business. You'll be able to make your business reputation better over time by using online reviews to your advantage. It'll work wonders for your business and require very little effort on your part.
Get started today by getting in touch with us to learn more about our reputation management services.