About 61% of shoppers research products online, and about 90% of customers say their buying is influenced by online reviews. Additionally, 85% of consumers say they will read up to 10 reviews before they can trust a business. This shows that your company’s reputation should be prioritized as part of your marketing efforts.
Your advertising efforts, regardless of how much you spend on them, only serve to introduce your business to the public. However, most people today will go online to find out more about your business and gauge its reputation before doing business with you.
To break it down, here are 5 reasons why you need to build your online reputation:
1. Your online reputation attracts customers or turns them away
Acquiring the trust of your client’s trust is a huge step towards the success of your business. Consumers typically discuss their purchases, and it’s never been easier to do this than it is today, thanks to the internet. It is worth noting that while a good reputation can take years to build, it can be destroyed in a short time. Even worse, negative reviews can cause even your existing customers to go elsewhere.
2. Your online reputation affects your sales
Since customers want to find out about a business beforehand, it follows that a good reputation will bring paying customers to your business. In fact, your reputation may be one of the biggest factors affecting your profits. When the reputation of a business falls, you can be sure that its profits will soon follow.
3. Your online reputation affects your competitiveness
When customers read negative reviews about your business and decide not to buy your products or services, this does not solve their problem. They will keep searching for a company they are comfortable doing business with, and will ultimately buy from your competition. Additionally, customers will often compare ratings before deciding where to buy. In other words, your reputation indicates where you stand in comparison to your competition.
4. Your online reputation affects your business partnerships
With a poor reputation, you have even more to worry about than just the customers. Potential and existing business partners may come across a poor review posted online, or even read about alleged bad business practices in your business.
Your business partners have an even bigger stake in your business than your customers, because they stand to lose their money if your business fails. A poor reputation is therefore dangerous as it could put your future income at risk in case a partner is put off by something online.
5. Your online reputation affects your workforce
Prospective employees will likely research your company before they apply to work for you. A negative blog post by one of your former employees could keep the highly competent professionals you need from your company.
Helpful tip: The best approach to building your reputation is to use a system that allows you to be proactive.
We offer a simple yet efficient system that will not only monitor your online reputation, but will also help build a good reputation for your business. Contact us today for more information.