Even if you understand the process of online reputation management, it may not seem like it is the right way to go for you or your company. So what are the benefits of positive online reputation?
For starters, it will improve the image of your brand. Your brand’s image, or reputation, can bring your more business or send customers running in the other direction. Think of what your company is known for. Is it known as the best producer of your type of products? Then your brand has a good image. This image has to continue online where more and more consumers are making a majority of their purchases.
A positive online reputation also increases your conversion rates and reduces refunds and chargebacks. What do those terms mean? Conversion rate, in terms of internet marketing, is the proportion of visitors to a website who actually do something on the website (for example, making a purchase versus just looking at the products for sale). Online reputation helps to get clients more purchases. And because consumers are happy with the products, the products can be sold for more, which in turn reduces refunds and chargebacks to the supplier.
If those benefits have not sold you on online reputation, here are some more:
- Increased customer retention
- Strong first impressions
- Attraction to new consumers or clients
- Stronger community image
Customer retention is a process that a business uses to reduce customer defections (customer defections are when the consumer goes to a competing business because their needs are not being met). In order for customer retention to be successful, there has to be a successful relationship between the business and the customer. The customer wants to feel that the business cares about them as a person and not just as someone to shake down for money.
Online reputation helps with first impressions because the process impacts what shows up on those first listings on a Google search. First impressions mean a lot in business because it is not often that you will get a second chance to redeem yourself. If a customer searches for a business and the first listings are negative, those negative listings are going to stick in the customer’s mind for a long time. It will take a lot for that negative first impression to be erased.
On that same note, a good first impression is going to attract more clients or customers to the business. Word spreads –by neighbors gossiping or on social media sights –and a strong first impression is going to be something to talk about.
And if a group of people are all talking about how great a company and its products are, then there is a community of people who see that company in a positive light. This makes the company a community company, or one that cares for the good of the community and not just how much money the business can get from the community.
So you can see that there are a lot of beneficial elements to making online reputation a priority marketing plan for your company.