What are the top benefits of good business reputation?

//What are the top benefits of good business reputation?

What are the top benefits of good business reputation?

More credibility and higher trust, less risk, better talent and workforce, and increased profitability! What’s not to like?

More credibility means higher trust. This equates to a better overall reputation that’s better than any marketing!

Increased profitability results from good reviews. It’s a proven fact that the more reviews and higher star rating a company has, the more business they attract.

Better talent and workforce are attracted to companies with an amazing reputation.  Brands that have a positive reputation are perceived as more stable and can give employees a better future.

Less risk. People move with crowds, a fact that is explained in the reputation management theory “the broken window theory”.

Higher trust

Brands with great reputation online tend to be trusted more by people because people value the opinion of others. It is not a secret that people tend to flock to a company or business trusted by many, with research showing that 70% of consumers trust reviews from other consumers as compared to paid advertisements. Brand recommendations from friends are trusted by 83% of people too.

More profitable

Business tends to flock to companies with good online reviews. Do you know that a restaurant with an extra half-star rating will sell out 49% more often? That’s 19 percentage points more profits! This example applies to other businesses as well.

Better talent

Discerning talent will want to work with an amazing company that is seen as “stable” and is “going to get even better”. This is why what past and current employees say matter a lot. This isn’t just seen in workplace reviews but positive content online as well. Remember that people will want to work with a company that can give them the best chance of a brighter future. This is why companies with great reputation attract better talent.

Less risk

Companies with shady or bad online reputations tend to get even earn worse reputations in the future because of the “broken window theory”. This basically means that companies with a bad reputation tend to attract shady characters in both customers and employees therefore further worsening their reputation over time.

Remember, reputation affects you in more ways than you can imagine!

Reputation is everything in today’s atmosphere of a highly competitive business environment. What people think about a brand has a huge direct impact on revenue numbers and sales.

Building a strong online reputation these days means shifting from conventional advertising and engaging consumers with digital tools like the use of social media.

This isn’t as straightforward as it looks.

Online reputation management isn’t just about generating positive reviews and addressing negative comments. It is about influencing how your target audience will perceive you by building an online reputation that resonates the brand’s core value in a way that also takes into account the primary needs of the target market. This is why a comprehensive strategy for online reputation management is beneficial for businesses.

How a good and solid reputation helps

A good and solid reputation has several indirect and direct benefits for your business.

How so?

A great first impression matters a lot. This is achieved with a well-managed and strong online reputation plan that builds a positive image for the brand by identifying and addressing key customer touchpoints. Happy customers make a good reputation!

A well thought out online reputation management (ORM) strategy not counters negative propaganda by competitors effectively, but also makes the business shine by highlighting strengths and achievements.

A strong online reputation is key to increasing trust and turning that trust into profit by helping convert cold visitors into prospects and customers.

A great online reputation is key to establishing your company as a business leader and as an authority in your niche. This will set you apart from competition especially when you are able to make your name synonymous with your niche.

Online reputation statistics illustrate key points

If you have any doubts about the impact and importance of having a strong online reputation have in your business, do take a look at the following statistics:

58% of Fortune 500 executives strongly think that every organization’s branding and marketing strategy should center on reputation management

65% of internet users believe that the most trustworthy information about companies and people is what can be seen from web browsing

79% of consumers consider personal recommendations and online reviews when forming their opinions about products and services

84% of marketers believe that the future of marketing campaigns will be all about building trust

85% of consumers search online for reviews and information prior to making a purchasing decision

90% of consumers say that their purchase decisions have been influenced by positive reviews

With everything shared above, it just shows that the future of branding and marketing focuses on online reputation management!

Google is the best business card for your business online!

Google’s first page is the new business card that businesses covet when it comes to managing their reputation online. It can’t be denied that prospects and customers form their opinions regarding brands based on what they can find in Google’s search results.

A recent study shared that more than 45% of consumers found information using Google search that led to them changing their minds regarding conducting business with a company.

With the above said, having a strong online reputation that highlights a brand’s strengths and makes it look great on Google’s first page is crucial these days.

By | 2021-03-16T01:18:45+00:00 March 22nd, 2018|Design|Comments Off on What are the top benefits of good business reputation?

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