Why Is Reputation Management Essential For Any Organisation?
If you are considering buying a new car, what is your strategy for making that significant, costly decision? Performance? Style? Petrol, diesel or electric? Hybrid? Make? Reliability? How economical is it? Depreciation rates? Quality?
Would you buy a vehicle that is renowned for being something of a risk, costly to get serviced and difficult to sell on? Probably not!
Big, and small, decisions are all about the reputation of the seller – we also see this in the Trip Advisor ratings for simple purchases such as restaurant meals, so bigger buying decisions are clearly being made on the basis of reputation in all aspects of delivery and performance.
Your reputation is critical because it attracts customers and then effectively secures them to your customer bank BUT poor performance drives them away.
Spending money on maintaining and developing your reputation is an essential for successful organisations: the focus here is all about monitoring and shaping the public’s perception of your brand. This requires considerable patience and effort.
Reputation management is not only about building your brand’s image. It also aims to maintain the excellent reputation that you made and recovering correctly from an unfortunate incident or PR mess. Businesses that fail to invest in reputation management suffer immensely from misleading information, malicious allegations, and critical reviews.
The bottom line here is that even if you have the best products or services to offer, your brand is only as good as your reputation.
Reputation boils down to the following areas of focus:
- Maintaining a Professional Image
If your image is solid and professionally presented, then this is fine for now, but this is no reason to become complacent. For new businesses reputation strategies are essential to get a foothold in their market and to start to attract customers.
A company with a professional image is more likely to attract customers than businesses who have a disorganised or sloppy image.
- Pushing for higher ranking in Search Engines
The Internet has become a vast source of information for customers. Search engine rankings have a significant impact on a company’s online presence. When customers search for a product online, they are likely to look at the first few pages of the search engine results. A reputation management strategy should include creating local profiles and listings to boost your business’ ranking on search engine results pages (SERPs). If your company ranks high in SERPs, the more likely customers will find you and contact you.
- Dismissing Malicious Rumours and Correcting Misleading Information
One danger of social media profiles is that they are liable to attack from anyone who wants to challenge, and potentially damage, your reputation. This is done by posting rumours and incorrect information. If these malicious and misleading posts are not corrected immediately, the organisation’s reputation can be destroyed beyond repair. A constant view on your social media feeds is therefore essential.
- Improving the Bottom Line
Many customers turn to the Internet to find out whether the company that they are eyeing is worth their time and money. You can improve your company’s revenue by being aware of how people perceive your brand. Reputation management helps increase your company’s sales by finding out what customers like or don’t like about the products or services that you offer. This information will allow you to improve financial performance and raise awareness of where to focus your resources in terms of business development.
- Gaining Customer Trust
When people buy your products and services, it means they trust in your company. Customers that trust you are likely to become returning clients. One of the most powerful and most effective ways to gain the confidence of customers is through online reviews and word-of-mouth. Customers who find your company trustworthy and credible are more likely to share this information with people they know, which helps generate more leads and revenue.
Time and resources spent on maintaining and improving reputation is always time and resources spent well.
For more details about our services visit the website www.davidsummertonconsulting.co.uk