ORM or Online reputation management refers to taking control of the online conversation. The techniques and strategies involved in this process ensures when people they look for you on the Internet, they find positive and right information about your business. The main agenda of having an online reputation management for your business is to counteract on misleading trends, create balance and allow you to put your best foot forward.
Having a good online reputation provides a business with a lot of advantages such as better talent, higher trust, less risk, and more profit. However, the benefits of a good corporate reputation extend far beyond. Companies that is successful in building a good online reputation is usually treated better online and creates a brand value.
Here are some of the benefits to maintaining the online reputation of your company:
A good reputation leads to higher trust
Brands with a good online reputation are trusted more because people depend on the opinions of others. If people appear to trust a company or person, others are likely to follow suit with the same sentiment. If you can’t even get people to trust your brand, you’re going to have a difficult time selling your products. In fact, research shows that 83% people trust brand recommendation from friends, and nearly 70% trust consumer opinions more than paid advertisements.
Reputation can increase profits
Building on the importance of your online reviews, companies with good online reviews tend to attract more business. Now it’s more important than ever before to have lots of new, relevant reviews for your business online. According to a Harvard Business School working paper, every additional one-star Yelp rating causes an increase in the business’s revenue as high as 9%. The benefits of online reputation management can translate into extra income for your business growth.
Companies with good reputation attract better employees
Reviews are equally as important for attracting employees as they are for attracting customers. So much so that only 1 in 5 job seekers would consider working for a company with a 1-star rating! People want to work at a good company that is making progress. They want to work at a company that they can trust shares the same core values and beliefs as them. Opinions of current and past employees matter to them. Along with workplace reviews, positive content online show that your company has a favourable work culture. Companies with better reputations tend to attract more, and therefore better, talent.
Reputation directly impacts sales and revenue
In a world where the business environment is highly competitive, the way people perceive a brand has a direct impact on its sales and revenue numbers. In fact, companies with a good online reputation may invest less on marketing and advertising compared to other firms.
The rise of social media and the shift from conventional advertising means businesses need to actively engage consumers and focus on building a strong online reputation.
Reputation management on the web is not just about countering negative content and generating positive reviews. It’s about building a reputation that makes a brand synonymous with its core values and the primary needs of its target market. This is precisely why businesses need to have a comprehensive online reputation management strategy in place.
Additional benefits of a good reputation
A solid reputation has several direct and indirect benefits for a business.
- A strong and well-managed reputation marketing campaign ensures that businesses have a great first impression on their prospects. It focuses on building a positive brand image by identifying the key customer touch points and using them to build positive first impressions.
- A comprehensive Online Reputation Management (ORM) Strategy not only highlights the strengths of a business but also effectively counters any negative propaganda by its competitors.
- A strong online reputation that increases trust means that there’s a higher chance of cold visitors turning into prospects and customers.
- A good online reputation helps businesses establish themselves as thought leaders and the go-to source for all industry-related problems. This helps businesses earn free media coverage and elevates them above the competition.
Why does a company need reputation management?
One way reputation management services help build trust is to make your business more transparent in all the right places. By listening to customers online and responding to comments both good and bad, you are showing people that your business listens to queries and grievances of the customers and responds to them. Even something as simple as replying to a comment on social media platforms like Instagram, Facebook etc. can improve your reputation and build trust within customers.
It’s also paramount to have a good review management strategy. Since most people trust the opinions of people overpaid advertisements, your online reviews need to be the best they can possibly be. A 2018 study found that 91% of people trust online reviews as much as personal recommendations.
When it comes to reputation management on the web, Google’s first page is the new business card. Most people never make it past the first page. Customers and prospects judge brands based on what Google’s search results say about them.
It is, therefore, crucial for every business to have an online reputation management strategy that highlights its strengths and makes it look good on Google’s first page.
Why choose Digital Marketing Lab?
Companies with effective reputation management strategies can expect to reap the benefits of their efforts. These benefits include higher trust, better talent, less risk, and more profit.
Digital Marketing Lab is a full-service digital marketing agency and online reputation management company serving individuals, small- and midsize businesses with a complete range of online public relations, brand management and digital marketing solutions for the past 13 years. At Digital Marketing Lab, we are dedicated and committed to helping businesses build brand awareness and credibility through encouraging positive reviews and restoring their brand names
Throughout the years, we’ve continuously developed and improved our reputation management services to provide our clients with the best online reputation management that fits their marketing needs and meets industry guidelines.