Reputation Management

Reputation Management

Today I want to talk about reputation management. Let’s face it; having a negative review about your business can have an unbelievable impact on the mind of potential leads, especially if they are unfamiliar with your business and services/products. A lot of small business owners are clueless about customer reviews-what people are saying about them online, and the influence reviews have on their business.

Reputation Management-What are they saying about you?

saying onlineIt’s very important for a small business to utilize proper reputation management and that they fully understand the impact that consumer review sites have on their business as well as their website without some form of reputation management. Just what is reputation management? In a nutshell; it’s just what it says-managing the reputation of a company or small business-what people are saying about your business. It’s being aware of both negative and positive ratings and reviews regarding your small business, your customer service and your products.  

Proper reputation management can be a good tool to maintain a small business’ positive image and branding, especially if it has been tarnished in any way.

Reputation Management-What do the numbers say?

For many small business owners it’s not easy for them to fully comprehend the full impact that consumer ratings & reviews have on a small business. The impact IS HUGE! For instance; did you know that people are more likely to make purchase when they are able to find some form of online recommendation? Listen to this:

  • 75% of people don’t believe that companies tell the truth in advertisements.
  • 70% consult reviews or ratings before purchasing.
  • 97% who made a purchase based on an online review found the review to be accurate.
  • 7 out of 10people who read reviews will often share them with family members and friends; that amplifies the review’s impact.

Thirty four percent of consumers choose to use a form of social media to share their feelings about a company and forty six percent feel they can be very honest on the net. Thirty eight percent of consumers intend to influence others when they write reviews or rate a company online.

Reputation Management-What can be done?

You can almost always find a negative review somewhere on the internet about your business or service. That’s just life. It happens because you can’t please everyone no matter how hard you may try. The sad thing about that is the fact that one bad review or rating can have devastating consequences on your business.  It’s important to know thatforty-five percent of consumers say they are influenced a great deal by reviews on social sites from people they follow. 

The best way to exercise effective reputation management is to know what is being said about your small business/branding and image.   Please remember that online reviews and ratings on quality citation sites have the ability to boost conversions on your website by twenty percent!   You need to see reputation management as a way of taking word of mouth to a new level if done correctly.

So remember, reputation management is a great tool in building a business’ reputation, a good tool to maintain a small business’ positive image and branding, and an awesome tool when used to improve your business’ image and branding if it has been tarnished in any way. Thanks for stopping by and learning about this awesome tool called reputation management.

 

Your Brand Name – 3 Tips to Help Establish Who You Are

In this article, we will cover vital information that will help your customers recognize your brand name and scale your business without breaking the bank in the process. In a previous article I talked about why you can’t stop marketing and in that article I mentioned the need to differentiate your business from your competition. In the business arena, we use the term branding. Your brand basically represents your business and allows people to identify who you are.

1. Your Brand Name: Focus On Your Business

Financial Background 3 smallLet’s look at what it takes to create a brand for your business that will help your business excel in your particular niche or market. Now if you really want your customers to know your brand name, we need to make sure that you first look at your business and what image or perception you want your customers to walk away with after they’ve experienced your business.

Many of the small business owners that I talk to make the mistake of working hard on developing what they think is an effective or catchy brand for their business and they have forgotten about looking at their business first. Your branding has to be developed as a direct result of your type of business.

Keeping that in mind; it’s a good idea to consider some of the things that I listed below. These things aren’t written in stone but, they are a good rule of thumb.

  • What type of business do you own?
  • What type of service or products do you offer to your customers?
  • What differentiates your business from your competition?

Make sure that you take time to identify the type of business that you own and any special qualities that your business may have as well as what image you want to get across to your customers. Remember, you want them to relate to and focus on who you are.

2. Your Brand Name: Make a difference

If you’re in a market or area that is flooded with similar businesses like a restaurant, a salon or even a dentist; then making your business appear to be unique or distinctly different from your competition is a great way to create the desired reputation that you want for your business. 

One way to do this is by establishing credibility between your customers and your business. A great way for your customers to know your brand name is by being known as a business that provides quality products or services. Make sure that your branding focuses on what sets you apart from your competition. You do this by carefully choosing your logo, your marketing strategy and being able to follow through on what you promise your customers.

3. Your Brand Name: Staying Power

As a small business owner, you should never allow the economy drive the quality of your service or products, which has a direct affect on whether you’ll earn a return visit from your customers or not. Even in a tough economy; you have to maintain the quality and promise that you made to your customers! When so many business owners are cutting corners and making unwise moves, it’s you who will start to stand out head and shoulders above your competition. When you’ve done that, trust me, you will experience prosperity while others suffer. That’s how you get people to know, remember and trust your brand name and who you are.

One last thing, you can’t be ruled by fear! Many businesses have closed shop when they may have had a very good chance of making it. Listen; like I always say; don’t stop marketing! When you begin to show your customers and your competition that no matter what, you can uphold the promise that you’ve made to provide quality services or products; you are establishing a brand that is solid and stable. These are the things that make a good brand for any business; this is how you make sure that everyone, both competitor and customer know your brand name.

The Power of a Good Name

Hello everyone, let’s continue to discuss reputation management and the power of a good name. When I think about reputation management, I think it’s important that we put it in the simplest terms and in its most simple term-reputation management, is building and maintaining a good name. As a small business owner you know that your business lives and dies by the constant stream of customers who buy or utilizes your products/services.

The Power of a Good Name – Online

Developing and building a positive brand online will pay huge dividends when done intelligently and with a purpose. Here are three key facts to remember:

  • arrow-upOnline traffic to the top 10 review sites increased by 158% in 2011. (Compete.com)
  • 90% of online customers said that they trust reviews from people they know; 70% of online customers trust strangers, 27% of online customers said that they trust expert advice, only 14% of online customers trust advertising and as low as 8% of online customers trust celebrity endorsements. (Econsultancy, July 2009, Erik Qualman, Socialnomics)
  • 51% of potential customers will use the Internet before they buy anything from local shops or restaurants. (Verdict Research, May 2009)

Keep in mind that review sites on the internet have shown tremendous growth and clearly demonstrate how customers are changing the ways they communicate, socialize and make their buying decisions. The power of a good name can be the difference in an increase in revenue or a complete decline in business and a tarnished reputation.

The Power of a Good Name – Value                                          

A research on consumer reviews found that negative online reviews strongly influence the purchase decisions of customers. Another study discovered that about eighty nine percent of customers trust online reviews, and roughly eighty percent have changed their mind about making a purchase when viewing negative information that they found online.

A whopping eighty seven percent of customers stated that positive reviews had a positive influence when they decided to make a purchase. As a small business owner it’s very important that you keep these things in mind when you’re interacting with your customers. Remember, you’re developing and building your brand; your good name.

The Power of a Good Name – What You Don’t Know CAN Hurt You

There’s a need to keep track of your ROI. A good example is the fact that close to thirty percent of Business to Business marketers spends millions of dollars every year on some form of social media marketing and a large percentage of those marketers aren’t even tracking the effectiveness of their marketing efforts. As small business owners, we must keep track of our return on investment! We have to know what is being said about our company and how effective our marketing efforts are in our attempt to build our brand.

Your goal should be to outsmart your competition; don’t try to outspend them. You must track your marketing efforts to ensure you reaching your ideal customers and that you’re successful in your attempts to leverage the power of a good name.