Below you’ll find 5 of the many reasons that more and more companies are investing in reputation monitoring to not only bring in new business opportunities, but also to retain existing clients. This isn’t a complete list, but it’s definitely 5 things you don’t want to overlook.
#1 Mark Your Territory
- First off, it’s important to mark your territory. By territory, you could say that any product that you sell or promote represents your business territory. You want your business to be at the top of the list when someone is searching for your product. When you have a good online reputation, the odds of you marking that territory greatly increases. Think about it: when doing an online search, would you buy a product from a business with a bad reputation? Not likely. Now, if you see that people are pleased, you’re far more likely to choose that business/product.
#2 Less People Means Less Profit
- Stemming off of the last point, when your online reputation is good, you’re more likely to have more business. When it’s bad, some might take a chance, but it’s less likely that they will choose your business for their needs. With all of the competition on the web, a “better option (or seemingly better) is just a scroll or clock away; the menu of prospective choices is extensive. Ultimately, losing people means losing money. Losing money means possibly losing your hard earned business opportunities. On the flip side, however, a good reputation might increase business and overall revenue. You can’t blame someone for being cautious with their patronage, to be fair.
#3 It Only Takes a Few Bad Reviews to Ruin Them All
- You have probably heard that it is human nature to focus on the negative. This is ESPECIALLY true when it comes to online reviews. You are only as good as your last review or two. A stellar reputation (in general) might somewhat help, but the bad reviews tend to stick out in the minds of even the most open minded individuals. This is one of the BIGGEST reasons that monitoring your business reputation is so vital to your overall success. One terrible review shouldn’t set you back too much in the eyes of your target audience, but it often does. Obviously, issues like this can become a big problem. In order to know what is going on in the minds of your customers, you need to continuously monitor your online reputation, as it easily spills over into every aspect of your reputation as a whole, and your business. This can be great, or disastrous.
#4 Know Where You Stand
- Again, no matter what your reputation is, it’s helpful to know where you stand. If your reputation is solid, great. If not, then you know that there is room to improve. You cannot do this, however, if you don’t even know that there is room for improvement. The only way to do this is to regularly check up on the particulars of your business reputation.
#5 Just Do It Because It’s Good for Your Business, Okay?
- Business can be summed up in a few simple terms: you need to put out to get out. So, if you want to have a great business, there are times that you will have to spend some money to get your online perception and reputation straight. So if you’re aware of a possible issue that is related to your brand, the best advice we can give you regarding using reputation monitoring is… do it… now!
Now that you know the reasons and benefits of monitoring your online business reputation and why other businesses are doing it, you might want to take action and get started. We didn’t get into any of the details of what you should expect from business reputation monitoring, how much it costs, ho how long you should do it, etc… but feel free to ask us any of those questions. From there, we will write and article specifically on that subject or let you know directly. In the meantime, as always… Nomvo!