In the past, the topic of reputation management was merely chatted about every once in a while. Now, it is an essential business practice that nearly 100% of successful businesses are focusing on. Not only is it being talked about, it is being performed. Studies are showing that businesses failing to develop a reputation management strategy are slowly falling by the wayside.
You might be wondering to yourself, is it time to hire a professional reputation management consultant? For some of you, yes, hiring a professional agency to handle reputation-related tasks is far over due. For others, it is possible to practice it on your own. Whether you choose to hire a professional or you’re feeling more in the DIY-mood, focusing on reputation management for your startup business is a must.
Reputation Management Allows Startups to Generate Sales
Before you can make sales, consumers have to be made aware of your existence. This is where reputation management comes into play. A common misconception is that reputation management is only practiced once a reputation is already there. The exact opposite is true, though. The term reputation management is a bit misleading, because it encompasses all aspects of a brand’s rep, not just the task of managing.
Reputation management also refers to reputation creation. Even if the brand reputation is there, building it up even more is another important task or reputation management. Once this creation and building or a rep has been completed, you’ll start to see more customers coming your way. More customers means more sales, which means more profits and ultimately a successful business.
Reputation Management Establishes the Value of Customer Service
Did you know that one happy customer can lead to 9 referrals down the road? Focusing on reputation management basically means you are trying to make customers fall in love with you. Not only that, you are trying to get those in-love customer to refer your brand to others, which is the best form of marketing there is.
Another recent study on consumer habits shows that nearly 90% of customers are willing to pay a bit more for a product for a better customer experience. A major aspect of reputation management is establishing a top-notch customer service department. So don’t be afraid to charge a bit more for your products and use that money to better customer service practices.
Reputation Management Teaches How to Respond to Negativity (the Right Way)
If you take pride in your brand – which hopefully you do – it can be difficult to handle any negativity surrounding your company. But it is important to brace yourself, because there will be negativity every now and then. No matter how hard you work and how much heart and soul, sweat and tears you’ve put into the business, there will be haters.
Understanding how to respond to these haters in the right way is crucial. You now work to serve customers, and technically the customer is always right. Whatever you do, never respond to a negative review in the way that you actually want to. Show that you’re on the customer’s side and will do whatever you can to make their experience with your brand a good one.