What is Online Reputation?Online reputation refers to how people perceive you or your brand online. Some of the factors that affect online reputation are online reviews, press content, comments, and forum posts. Review pages like Yelp, the Better Business Bureau (BBB), and TripAdvisor publish consumers’ honest opinions and reflect a company’s online reputation. Proper online reputation management requires that you monitor these regularly, generate more reviews and respond to feedback appropriately. Many companies invest in online reputation management software or hire professionals to handle this seemingly daunting responsibility. Also Visit: Advance Digital Marketing Course In Delhi
How Important is Online Reputation Management?The majority of consumers don’t buy products right away. They spend time researching the product and reading online reviews. In fact, buyers read approximately seven reviews before trusting a company, and that’s why your business needs a significant amount of positive feedback to win customers over. Luckily, one of the priorities of online reputation management is collecting quality reviews for your brand. Online reputation management (ORM) and online reputation management tools help amplify the potential of your internet marketing efforts. According to a Harvard Business School working paper, a business can raise its revenue by up to nine percent for every additional 1-star Yelp rating. If you’re constrained from reaching out and asking for reviews from every customer you’ve had, you might want to consider hiring an agency to do this for you regularly. These professionals can contact your previous customers and continue to do so with your future buyers. Having 5-star reviews may say a lot about your company, but it isn’t the only thing consumers look for in a brand. They are also interested in how companies respond to reviews and comments. If you’re worried about getting negative coverage online, your fears aren’t unfounded. Bad reviews can have high rankings and can be damaging to your brand identity. On the flip side, with the right approach, you can utilize negative reviews to establish a favorable narrative about your company’s trustworthiness and customer-centric approach. Professionals can effectively manage your brand perception risk at speed. Low ratings, when unmanaged, affect conversion rates. A company’s 1- to 2-star ratings couldn’t possibly convert 86 percent of potential customers. The impact is even worse for startups who are still struggling to build their momentum – imagine negative reviews hitting your conversion rates hard before your business even has a chance to take off. In this sense, consumers’ trust can truly make or break your business. While we cannot prevent everyone from posting negative reviews online, online reputation management mitigates the effects a stream of negative public opinion may have on a brand. By responding appropriately to customer complaints and resolving their issues, you may appease unhappy customers and gain new ones, building trust and credibility in the process. You can streamline your online reputation management operations using reputation management software and a dedicated team to monitor, respond to and drive online reviews. Ninety-four percent of businesses that used online reputation management software to support their online reputation management strategies say they are able to get a good return on their investment. Here are just some of the things reputation management software can do for your business:
- It exposes online feedback and reviews from various online channels and third-party publishers.
- It personalizes your interactions with your customers.
- It allows you to build and manage your customer database.
- It makes a more convenient and more cost-efficient way of responding to customer reviews and feedback.