Why Reputation Management is Important for your Business?
Reputation Management is something that every business owner hears about, but don’t always understand the significance of it.
Management means “The act or art of managing: the conducting or supervising of something (such as a business)”.
Therefore Reputation Management means “the act of managing the overall quality or character of a business as judged by people in general”.
Now the general public control the online and offline reputation of a business. The public can provide real time feedback on different review sites, social media, websites, etc.
Due to the fact that anyone at any time can leave a review about your business online needs to be managed.
It is impossible to please every single client that gets service from your business or walk through your doors for your product. If a business owner understands this and can accept this, it is much easier to manage your online reputation.
According to the biggest search engine in the world (Google), 9 out 10 of all local searches lead to action, with more than 50% leading to sales. 74% of consumers trust online reviews as much as they would a personal recommendation.
Trust from reviews leads converts into money, as consumers/clients will purchase products or services from businesses they trust. Therefore every business needs to have a great online reputation.
What goes into Online Reputation
- Number of business listings
- Consistency of business listings information (name, address, phone number)
- Overall sentiment in reviews
- Frequency or current velocity of new reviews
- Overall volume of reviews
- Social activity and engagement (especially with reviewers)
There is a lot that goes into Online Reputation management. If done properly a business can spend over 300 hours a year ensuring that their online reputation stays on track.
In all honesty if a business ever drops below 3.5 stars in terms of review it is basically suicide. 85% of people will not even consider a business that has less than 4 stars.
Online Reputation management isn’t something that you trifle with, it is literally the life blood of a business and needs to be maintained with the utmost care.
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