What is the word for having a good reputation

• Having a good reputation is crucial for individuals and businesses in today’s world, as it can open doors to new opportunities and lead to increased revenue.
• A good reputation is built on both reality and perception, with the latter being shaped by factors such as online reviews and social media.
• Curating a positive reputation involves actively promoting positive information and minimizing negative sentiment.
• A good reputation can lead to more business opportunities, better employee selection, higher company value, and lower marketing costs.
• Companies should build a positive reputation by developing relationships with industry influencers, promoting positive online content, and monitoring their online presence.
• Reputation involves visual cues, mission/vision/philosophy, behavior within the organization, and business success.
• Maintaining a positive reputation is everyone’s responsibility, with marketing and communications handling external perceptions and human resources managing internal culture.

A great reputation means a lot

You probably know exactly why reputation’s such a big deal today. You want your personal or your company reputation to have access to the best opportunities, and a bad reputation can prevent that. A great reputation will open doors to fantastic opportunities and (if you’re a business) unhindered access to your ideal client base.

Your reputation is the single-most important aspect of your business. It affects everything from the number of followers on social media to your overall business revenue. Here are just a few other benefits of a good reputation:

• More business opportunities
• A better selection of prospective employees
• Higher company value
• Lower marketing costs

People want to make the best choice, and they base their selection on the person or company whose reputation seems to be superior. Whether applying for a job or attracting business opportunities, a good reputation affects your bottom line.

This article will cover:

• Reality vs. perception
• Curating sentiment
• Benefits of a good reputation
• Factors that contribute to a good reputation
• What online channels affect how a company is perceived?
• How can I build my business reputation?
• Who maintains a corporation’s reputation?

Reality vs. perception

One of the many aspects of reputation deals with how others perceive you. This can be summarized as your overall character, or how you actually are combined with your reputation, which is how others think you are.

One is objective, the other subjective. The character of a person is different than his or her reputation, and this holds true for brands as well.

When people trust you or your brand, they are more likely to recommend you to friends, repeat business with you, and can even forgive mishaps or scandals.

91% of consumers trust online reviews as much as personal recommendations

The rewards of having a good online reputation are greater revenues, better relationships, and more opportunities. Consumers care about a company’s reputation and purchasers’ reviews.

Reviews are so important, in fact, that businesses can’t survive in 2020 without them. We all do it. We read reviews. We use reviews to choose which stores to shop at, where to eat breakfast, which apps to download, or even which doctor to visit. Reviews are quickly outpacing word of mouth recommendations. A recent survey found that 91% of consumers trust online reviews as much as personal recommendations. 

Here are a few more eye-opening statistics that show exactly why it is worth dedicating time and effort to maintain a positive online reputation.

Company reputation is important: 90% of consumers say positive reviews have influenced their purchase decisions.

Online search is the most trusted source of information about people and companies for 65% of internet users.

86% of consumers use the internet for research before making a purchasing decision.

58% of Fortune 500 executives believe reputation management should be a core part of every organization’s marketing and branding strategy.

84% of marketers believe that building trust will be the primary focus of future marketing campaigns.

Curating sentiment

Curating a positive reputation is different than simply leaving it up to the random opinions of others. Advertising and PR are examples of how brands try to curate their own company reputation. Coca Cola tries to associate itself with young healthy people through advertising.

Today, most people understand the reputation of a brand through the lens of search engines and social media with a certain amount reserved for the physical world. Online reputation management works to actively affect how a person or company is perceived by channeling positive information about a brand in a way that increases positive sentiment, while causing negative sentiment information to lose visibility. 

Why active is better than passive

As the internet grows, your business or brand will be seen and judged. And if this is not attended to, it can be taken advantage of by competitors, and some consumers may write complaints and leave negative reviews in the process. But properly cared for, your reputation can flourish with new and better opportunities arising because of it.

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” Warren Buffet

Reputation can stem from one person’s judgment via a negative review or complaint, and then this can initiate a chain reaction as it negatively sways the collective judgment of a person or business. This new «identity» (reputation) can become overwhelming, and be all that consumers focus on.

When dealing with negative reviews, remember that the most important thing to do is to keep a level head throughout the whole process. Just because someone left a negative review about you or your business online doesn’t mean that they will never consider giving you a second chance. It all depends on how you handle the situation. Go ahead and respond politely and professionally. Consider these tips:

• Keep a level head
• Reply in a timely manner
• Respond publicly, privately, or both (depending on the situation)
• Flag reviews that violate Yelp’s content guidelines

Good reputations mean more money and lower costs

There are also many subsidiary benefits to having a good reputation: businesses that enjoy a high standing may not have to spend a fortune advertising and marketing as their customers will frequently advertise their products and services by sharing with their friends.

Moreover, when it is endowed with a good reputation, an online business may be successful in avoiding lawsuits as a complainant may concede that the company’s excellent public reputation could thwart their chances of winning. This may well reduce the company’s legal costs, which in the case of smaller companies can prove so threatening.

Get free marketing

Another benefit of a positive online reputation is that the company or individual might be given free press articles and reviews for their services or goods. This can often involve publishing information on important company or personal events, as well as the launch of new products. And it is likely to drive the success of the business even more.

At the end of the day, your individual or company’s success will always be reinforced by an excellent online reputation, and there is no doubt that having extra resources to ensure that your reputation within you industry is first-class, is the way to go.

Increase profits

Brands with a favorable online reputation can also expect to see higher profits. If people like and trust your brand, they are more likely to purchase from you over less favorable options. A good reputation will also instill a perceived value in people, which can allow you to charge more for your products. So you are not only able to sell more volume, but you can also probably do so at a higher price point. 

Attract better employees

People want to work for companies that share the same values as them. Those values are generally part of a larger company culture reflected well in its reputation. Companies with positive reputations will attract qualified candidates more likely to stick around longer and offer more long-term contributions. On the other hand, companies with negative reputations may struggle to fill open positions. 

What contributes to a business’ good reputation?

A business reputation comprises the total of what consumers communicate that they feel about the company. They may feel a certain way, but if they don’t communicate it then it doesn’t affect their reputation.

Much like with personal reputations, a positive corporate reputation can result in many benefits for your company. To name a few: 

• Increased revenue and stock prices
• Decreased churn rate
• Increased customer lifetime value
• Better job candidates and employees

Reputations can change quickly, so that is why it is so important to dedicate time, budget, and thought to building and maintaining your business’ reputation. There are so many factors at play, in the form of online reviews, word of mouth, articles, blog posts and social media. These can all significantly impact how your company is perceived — for better or worse.

Do search results reflect truth?

Unfortunately no. Truth is less relevant to a reputation on the internet than social strength. This is unfortunate because companies who do not manage how they are seen to some degree can be at the mercy of opinions that are not entirely accurate. One of the aims of reputation protection is to promote accuracy. 

Consumers take action and buy products and services on response to the readily available information. And as your company’s reputation is based on the information available online, ensuring that you have a sterling reputation and no negative copy or inaccurate information about your company or what you offer, is absolutely essential.

What online channels affect how a company is perceived?

What you can control

Your online reputation involves your company website, business blog, and your engagement with social media. These things you control, but the rest you generally do not.

What you can’t

Consumer’s social media channels, websites and blogs have an impact as do review sites, video and more. Taking control of, or at least influencing, these media channels can reset the board for a company. 

What people think of your company does not only involve the way in which your customers and target audience feel about your brand. It is also essential to be concerned about a broader sphere that includes your employees, community members, competitors, and others.

Your trade name impacts the way in which your target group interacts with your company, however, the reputation associated with your business impacts the way in which all your encompassing network interacts with your company.

How can I build my business reputation?

You can implement strategies and activities which develop an accurate and positive perspective of your company among third-parties. Remember that your company’s reputation extends far beyond the portion of your brand, services and products you control.

Influencing the influencers

This is where relationships with influencers in your industry are a big help. The better your reputation becomes, the better it tends to continue to grow. But the inverse is also true. The broken window theory applies to reputation as well. When a company has a damaged reputation, it can easily snowball downhill and become exponentially worse. 

How can I monitor my business reputation?

You can use reputation monitoring systems like TalkWalker, Google Alerts, SEMRush, and others. Unlike building your company’s reputation, which centers on what you want people to write and think about your company, reputation monitoring concerns what individuals are saying about it. Keeping tabs on your reputation concerns maintaining a close watch on the platforms that consumers use to engage with other people about your company, and the platforms that they use to engage with your company. This will enable you to make adjustments so that you can maintain an excellent and accurate image of your company and what you offer. 

What does reputation involve?

According to the Davies and Miles corporate reputation review entitled, Reputation Management: Theory versus Practice, reputation in terms of business, involves three things:

• How others see the business
• Who the business really is
• What the business communicates about itself

Managing a business reputation necessitates the alignment of these three elements. When just one of these is out of balance, the company’s entire reputation can come crashing down.

Here is a closer look at the factors that shape a corporation’s reputation.

• Visual cues: name, logo, and all of the imagery related to your company or brand.
• Mission, vision, or philosophy: these elements are the guiding light of a company’s internal culture, and generate a ripple effect when it comes to corporate reputation.
• The behavior of members within the organization: what people are saying or writing. Articles, word of mouth, news, social media, and online reviews.
• The success of the business: for example, a spot on the Fortune 500 list will contribute to a positive reputation.

Who maintains a corporation’s reputation?

The simple answer: everyone.

Clearly, corporate reputation is a complicated machine. So who is in charge of maintaining it?

According to a 2005 study by Rosa Chun, senior lecturer at Manchester Business School, it is unusual to find an internal reputation management department that is directly responsible for managing corporate reputations. Instead, it is often a shared effort, with marketing and communications handling the external perceptions and human resources managing the internal culture. In addition to this, many companies which understand the priceless value of their reputation outsource their reputation management to firms that specialize in this field.

Creating, curating, and maintaining a positive reputation for a corporation is no easy task, but one of the most important facets in terms of human psychology is to be consistent. Research by Roger Martin of the Rotman School of Management has shown that a customer’s loyalty to a company or brand, relies more on familiarity than true, organic “trust.”

Customers love to do what feels comfortable; therefore, companies which are too quick to change their identity in the face of a PR disaster may be more likely to lose customers in the long run.

A better approach is often a slow and steady strategy that is focused on rebuilding trust through multiple channels.

The need to curate a positive reputation

The digital era has invited in a whole new way of showing companies and brands to the world, but it is one which is rife with complications. In many cases, a company’s reputation is their most important asset; to that end, it is in its best interests to make it the best it can be. For example, Coca Cola’s brand reputation contributes in a large part to its more than 100 billion valuations.

What’s your reputation worth?

Reputation Definition

To understand the importance of reputation, you first need to understand what reputation means.

Oxford Dictionary defines reputation as “The beliefs or opinions that are generally held about someone or something.” Whether your business has a good reputation or a bad reputation is up to you.

Today most of the people view the reputation of a brand through the lens of search engines, social media and word-of-mouth.

What is the Importance of Reputation Management?

Reputation management is making the effort to influence what and how people think of a person or brand. Sharing positive information about a brand or person to increase positive sentiment is an effective strategy for reputation management.

What are the Benefits of a Good Reputation?

The benefits of a good reputation include:

• More business opportunities
• Lower marketing costs
• Attracts loyal supporters
• More customers and sales
• Distinguishes you from competitors
• Promotes good relationships with clients
• Greater revenues
• Cost-free advertising
• Attract better quality prospective employees
• Higher company value

No matter who you are or what your goal is, without a good reputation you’ll find it difficult or almost impossible to achieve success. Customer swant the most for their money, so naturally they choose the company or person they think is  superior. No one wants to pay for a product or service that is lower quality than they initially believed. So whether you’re pitching a new client or looking for business partnerships, your reputation affects your bottom line.

Active is Better than Passive

The influence of the Internet is still growing. And that means that if your brand is in the public eye, you will be seen and judged. Unfortunately, a negative reputation can result from just a single negative complaint or review. Or, in a worst case scenario, the collective opinion of many. And if you’re not actively managing your reputation your competitors can and will take advantage. But if you take an active approach to reputation management your brand will flourish with more clients, leads and sales.

“You can’t buy a good reputation; you must earn it.”

Harvey Mackay

Earn More Money with a Good Reputation

Why is reputation important in a business? A good reputation not only makes you money, but also helps save on marketing expenses. The mechanism for building a good reputation is like a chain containing small, interconnected pieces. Customers feedback form this chain. At the end of your chain is a positive or negative business reputation. When you have a good reputation, you may not need to spend a fortune on marketing. Why? Because your customers act as brand ambassadors promoting your business to their friends, family and colleagues.

How can you Improve your Business Reputation?

If your business reputation is trending toward negative, , there are a few essential actions you can take to move toward improvement:

1. Stick to Your Word

A negative reputation can be the result of a simple misunderstanding. To avoid this, make sure your mission is clearly defined both internally and externally. Communicate with your customers on a human level. Customers who align with your values will become the client base you need to expand and grow your business.. When customers know what to expect building trust and promoting positive reputation will be much easier.

2. Use Social Media Proof

One of the easiest and the most effective ways to increase confidence in your reputation is through social proof. Showcase each and every positive testimonial you receive. But don’t just publish them to your website where they may never be seen. Promoting your successes on social media is how you use your positive reputation to increase your client base.

3. Improve Customer Service

Lousy customer service is the worst. Poor customer service has earned many brands a bad reputation. And that type of bad reputation is difficult to recover from. With the high number of services available to manage customer service, you should be able to easily avoid this pitfall.

4. Communication and Transparency

Your reputation depends on how people perceive your business. All correspondence—whether emails, letters, voicemails or any other method of communication—should always be polite, informative, professional and grammatically correct.

5. Always Be Honest

You will never earn trust by lying. If your company makes a mistake, acknowledge the issue and make it right. A cover-up is a fast way to earn a bad reputation. The best approach is always honesty, even when public relations mishaps occur.

Your company’s reputation can be a catalyst for new business or a roadblock for new customers. Protecting and improving your business reputation is the best way to increase your brand visibility, promote growth and achieve success!

Clients that come to us in need of online reputation management services often ask, ‘Why is a good reputation important for business?’. A positive reputation is crucial for businesses to thrive in today’s competitive, digital and offline landscape because consumers (on average) engage more often with a business or company they trust. A positive online reputation and presence can act as a sign of reliability and honesty, which in turn can attract more potential customers as well as skilled employees.

Furthermore, a positive business reputation can increase customer engagement and generate greater market value and share for companies. Not only can a positive reputation increase a business’s profitability, but it can also enable businesses to hire and retain more talented, loyal employees – significantly reducing hiring and turnover costs.

At Minc Law, we have extensive experience assisting both individuals and businesses in maintaining and improving their online reputations. We provide holistic digital and reputational risk monitoring and mitigation services as well as content removal services to help businesses avoid long-lasting damage caused by negative or damaging content.

In this article, we explain the benefits of a positive business reputation and explore how to determine your business’s reputation. We also examine the factors that contribute to a business’s good reputation (and how you can build upon those factors).

Benefits of a Good Business Reputation

A good business reputation is important for potential consumers since it indicates trustworthiness and honesty. Customers are willing to pay more when they do business with companies that have built up strong reputations, which in turn helps attract talented employees (who will stay loyal).

The importance of online reviews and a positive online reputation cannot be overstated in today’s cutthroat digital landscape. Roughly 90% of today’s consumers report that positive reviews play a role in their buying decision. On the other hand, companies with a bad online reputation spend an average of 10% more per hire.

In a nutshell, corporate reputation matters – and it can make or break your business.

What Does Reputation Mean in Business?

Your corporate reputation is the collective perceptions of the company’s past interaction and the expectation regarding its future endeavors. In simpler terms, your reputation is based on how past clients viewed their experience with your business, and how they foresee the future of your company.

Your business’s reputation is likely your greatest intangible asset. When your company is viewed as reliable, transparent, and responsible it can set your business apart from competitors – offering a tangible advantage in your market.

What Are Some of the Benefits of Having a Great Corporate Reputation?

Utilizing online reputation management (ORM) tools and strategies like digital marketing, public relations, and search engine optimization (SEO) you can significantly improve your corporate reputation. There are many benefits of online reputation management, but the primary reasons most companies use ORM is to:

• Build trust in their brand,
• Attract customers,
• Increase profitability, and
• Attract and retain talented employees.

Below, we examine each of the core benefits of online reputation management in greater detail to fully understand their impact on corporate reputation.

Build Trust in Your Brand

For most consumers, a company’s online presence is their first interaction with the business – and it determines whether they decide to pursue doing business with you or not. If a potential customer searches your business and finds negative news like lawsuits, workplace discrimination, or negative reviews of your products, they will be less likely to buy from your company.

Your business’s “brand” is a combination of how you want people to perceive your company and how people actually see your company. To be regarded as trustworthy, you must have a well-defined and consistent brand. ORM may help you promote items that are in line with your branding while also eliminating those that are not.

Attract Customers to Your Business

The vast majority of today’s consumers are online, so your business needs a solid online presence. Not only can a positive online reputation help attract customers, but it also makes them more likely to stick with your company.

A brand-centric social media presence can keep your business at the front of customers’ minds and show that you understand your clientele.

Increase Profitability

Naturally, attracting and retaining customers will enhance profitability, but just how much of an impact can a positive reputation have on your bottom line?

A 2016 Harvard Business study, examining the effect of online reviews on a business’s revenue, found that every one-star increase in Yelp ratings translates to a 5-9% increase in revenue. Even if you are a small business just starting, a 5-9% revenue bump can be significant and increase your chances of keeping your doors open for the long term.

Positive online reputations might be seen as a form of free advertising that sets your business apart from competitors, boosts search engine rankings, and drives customers to your business.

Attract and Retain Talented Employees

Consumers are not the only people looking at your business’s online presence. Potential employees also research companies online before deciding to apply or accept a job. And, talented employees want to work for companies with strong reputations.

What Factors Affect Your Company’s Reputation?

Understanding the importance of a positive company reputation is only the first step. From there you need to consider the factors that go into your reputation to exercise any control over it.

Technically, everything can affect your business’s reputation (including the personal reputation of your CEO) making it impossible to come up with an exhaustive list. However, five primary factors have the greatest impact on your business’s reputation:

• The quality of your products and services,
• The quality of your employees and customer service,
• The safety of your products and services,
• Financial performance, and
• CEO Reputation.

The Quality of Your Products & Services

Your products and services are the primary reason that consumers interact with your business. If you offer a poor product or service, it will take little time for people to find out – especially if there is an unhappy customer who spreads their experience online.

The Quality of Your Employees & Customer Service

Hiring talented employees can help improve the quality of your company’s products and services, but you need to be able to properly retain those employees for them to do their jobs effectively.

Even the best talent can only do so much if they are unhappy or unappreciated at work – which is why your company must have a positive reputation with its employees as well.

Additionally, happy employees provide better service to customers. This not only improves your company’s reputation but also helps you attract more new customers in the long run.

The Safety of Your Products & Services

Harmful products or services can lead to a negative reputation for your company. This is especially true if the product has caused physical harm to consumers, but it also applies to business practices like discriminatory hiring practices.

Providing safe and non-discriminatory employment opportunities can help keep criticism at bay, which in turn helps improve your company’s online reputation.

Financial Performance

If your business is not financially stable or profitable, it can be difficult for people to trust in your success moving forward, which can negatively impact how customers view your brand.

Financial performance can be a reflection of your success with the other factors that contribute to a positive reputation. If you have quality products, services, and employees you are more likely to have a profitable business.

Your CEO’s Reputation

Ultimately, the reputation of your CEO will affect how people view your business. If they are viewed as trustworthy and ethical (or not), this image can carry over to their company through their actions or words – if it is positive then so too will be the reputation of the company.

Make sure to read our comprehensive resource by paralegal Dayra Schmidt explaining the top benefits of online reputation management for your business.

What Does it Mean for a Business When They Do Not Have a Good Corporate Reputation?

The absence of a positive reputation can mean several things for your business. First, you may have difficulty attracting new customers to your business – which means that the only people who are left are either current customers or those who have no experience with your brand whatsoever. This is particularly true if there is anywhere else they could turn instead of dealing with your business – in this case, they will choose the more positive alternative.

Second, a negative corporate reputation can affect your current customers in several key ways. It can cause them to distrust you and become less loyal. It can make customers more likely to leave or abandon your service if another competitor offers something better or at a lower price point. A negative corporate image can spread online and damage your reputation.

Third, in today’s economy, a single negative review posted online could harm your company’s reputation indefinitely – scaring away customers and talented employees alike.

If you do not have a positive corporate reputation then there is a high probability that you will face an uphill battle staying competitive and relevant in your industry.

How to Determine Your Business’s Reputation

You know your business’s reputation is important, but it can be difficult to know where to start when assessing your company’s online reputation.

Why is It Important to Monitor Your Business’s Reputation?

As a business owner, it pays to know what is being said about your company (whether it is shared online or not). Not only can monitoring your business’s reputation provide you with more accurate information about your customers, but it can also provide much-needed feedback on what is working and what is not.

By monitoring your business’s online presence you can avoid potential losses and damage to your brand’s reputation and image. It can also help you better appeal to your target audience and provide the type of service and products they are looking for.

One of the first steps you can take to monitor your online reputation is to claim your business on internet directories like Google My Business and Yelp. This way you can monitor customer feedback and address any negative reviews promptly. Nearly all prospective consumers research products online before making a purchasing decision, and as little as one negative review can turn away potential customers.

Once you claim your business listings, you will have a front-row seat to protect your business’s reputation, as you can then flag fake reviews and respond to customer concerns in real-time.

How Do You Measure & Manage Corporate Reputation?

If you are looking to manage your company’s reputation, it is best to start with a thorough audit of your online presence. What appears when you search your business’s name? What are others saying about your business? Do you have any reviews and what do they say? What are your competitors doing and how is their reputation?

The answer to these questions will typically guide where to start as you attempt to shape your online reputation. If your online presence is lacking or negative, you will need to bolster it. If you have negative reviews, implement a strategic plan to address them effectively and appropriately. A lack of reviews can also be a red flag that indicates you need to ask for more positive feedback from clients or customers.

The stronger the image of your business you establish, the better equipped you will be to deal with negative reviews or publicity. It is worth noting that negative reviews are inevitable in any business. However, if you have a solid system for monitoring and measuring your online reputation you will be prepared to deal with negative reviews so you can minimize their impact on your business.

One way to establish and maintain a positive image is by taking advantage of social media. Social media profiles are typically high-ranking in search results and can operate like free publicity for your company.

How Do People Discover a Company’s Reputation?

An estimated 75% of customers state they make their purchasing decisions as a result of word-of-mouth recommendations. You can often gauge what is being shared about your business by searching online reviews and comments. After all, online reviews are just word-of-mouth recommendations (or complaints) in digital form.

Even clients that hear about a business offline often perform an internet search before deciding whether (or not) to patronize a business. Unfortunately, a single negative article can lead to a loss of up to 22% of customers.

This means it is important to keep up with what customers are saying, and continuously monitor online review sites like Google, Amazon, and Yelp. Most customers are checking at least one, if not all, of these sites, so businesses need to keep an eye on them as well.

If you are selling high-dollar products or services, you should be concerned with your online presence. Higher prices often mean that a potential consumer will conduct even more thorough research before making a purchase decision – so you want to ensure your online image is impeccable.

The Factors That Contribute to a Business’s Good Reputation

All business owners understand that their corporate reputation matters, but it can be challenging to determine exactly what contributes to a positive reputation.

A company’s reputation is influenced by a wide range of factors, including:

• The perception others have of your company,
• Consumer trust in your business,
• Corporate governance and leadership,
• The quality of your products and services,
• Your online presence and reviews,
• Customer experience,
• Social media engagement,
• Hearsay,
• Your offline reputation,
• Corporate social responsibility, and
• Financial performance.

What Contributes to a Business’s Positive Reputation?

Nearly everything your business does (and does not do) can contribute to its reputation. For better or worse, your products, services, employees, and corporate governance matter when it comes to your reputation.

The Perception Others Have of Your Company

How do others perceive you and your company? Your corporate reputation largely revolves around the way others see your business.

Consumer Trust in Your Business

It is imperative that clients trust your business to sell quality products or perform reliable services. Your business’s reputation is a reflection of this trust (or absence thereof).

Corporate Governance & Leadership

People often judge a company by the reputation of its owners and/or leadership. While this may seem unfair at first glance, corporate leadership has a strong influence on the way the company conducts its business.

The Quality of Your Products & Services

If you do not sell high-quality products or services, naturally, customers will not want to do business with your organization – and it will inevitably damage your reputation.

Your Online Presence & Reviews

Today’s consumers are online, so your online presence matters. Since the vast majority of potential clients will find your business after an online search, it is essential that you have positive reviews.

Customer Experience

If a customer leaves your business unsatisfied or disappointed they are likely to share their experience with others. Negative customer experiences can quickly turn into negative reviews and a loss of business.

Social Media Engagement

An active social media presence shows customers that you are willing to meet them where they are – and that you understand your consumers’ lifestyle.

Hearsay

Most people find out about businesses through word of mouth, so hearsay matters. Hearsay can be both positive and negative and can have a significant impact on your business either way.

Offline Reputation

Much like hearsay, your offline reputation can impact your business’s reputation (even if it does not make its way online). Your offline reputation often consists of things like employee morale and the physical presentation of your office or store.

Corporate Social Responsibility

Modern consumers care that the companies they support are socially responsible. The work your company does in the community (like volunteering and donations) goes a long way toward building a positive reputation.

Financial Performance

While profitability does not automatically guarantee a positive reputation, financial troubles almost always have a negative impact on corporate reputations. Consumers trust businesses with a track record of financial success.

How Can You Improve Your Business Reputation?

Fortunately, there are a few things that you can do to improve your business’s reputation even if you are struggling with negative online content.

Develop & Maintain Your Brand Identity

Tell your target audience the truth about your business. Customers can detect dishonesty easily, so they will be on guard if you try to pass your business off as something it is not.

Ensure you are familiar with your company’s values and find ways to share corporate values with the public. This type of information is useful for establishing your brand reputation in a way that connects with customers on an emotional level.

Solicit Reviews & Testimonials

Testimonials can also be a powerful tool to use to boost your reputation. If you are lacking reviews (or struggling with negative reviews) one of the best ways to improve your reputation is by asking your satisfied customers for honest feedback.

Improve Your Customer Experience

Put yourself in your customers’ shoes. Would you be happy with the customer service experience? Would you be satisfied with your products? If you answer, “no” to either of these questions, you need to adjust your products and services to better serve your customer base.

Monitor & Maintain Your Online Presence

Actively monitor your online reputation so that you can promptly respond to feedback, negative and positive alike. Use what you learn from online reviews to improve your products and services.

Also, make sure you engage with your customers wherever they spend their time online. This will show that you understand your clientele and value interacting with them.

Who Maintains a Corporation’s Reputation?

While most people probably think a company’s leadership is solely responsible for a company’s reputation, this overlooks the importance of many other stakeholders. While a CEO’s reputation is perceived to contribute nearly half of a company’s reputation, that means the other half falls on the shoulders of others.

In reality, many people are responsible for maintaining a business’s reputation, from customer-facing staff to management, and even clients. Customer service staff contribute to the customer experience, which in turn reflects a company’s reputation. Clients themselves even contribute to a company’s reputation by how loyal they are to the brand, and whether they share their experience with others.

Your business’s reputation will have a direct impact on your bottom line, meaning your reputation can make or break your business. Brand recognition and trustworthiness all play into whether you will attract and retain a customer base capable of supporting your operations.

Why is Reputation Management So Important in a Business?

Put simply, a positive reputation means more customers, better employees, and greater profitability – a must in any business endeavor. Not only does a good reputation increase the number of customers you attract, but it can also increase the quality of your customers.

Customers are more likely to spend more money with businesses that have a positive corporate reputation – and they are also more likely to come back for future products and services.

At the same time, companies that have a reputation as a great place to work open the door to a more talented pool of potential employees. And a talented workforce will set your business apart from your competitors – attracting even more business.

What Are the Core Elements of a Good Corporate Reputation?

While many factors contribute to a positive reputation, there are several components that apply to all businesses (in virtually all industries).

The primary elements of a good corporate reputation are:

• Quality products or services,
• Quality employees who offer stellar customer service,
• Reputable corporate leadership
• Corporate social responsibility, and
• Financial stability.

What Does a Good Business Reputation Mean to Your Customers?

A sound corporate reputation lets your customers know they can rely on your company to deliver the highest quality goods and services. It also sends the message that you value your clients and care about their experience with your organization. This gives them a reason to trust and patronize your business for years to come.

For information on ORM pricing, make sure to read our comprehensive article by Intake & Paralegal Manager Darcy Buxton explaining (on average) the total cost of online reputation management.

We Can Help Your Business Protect Its Online Reputation

★★★★★

“Darcy was professional and patient with helping with a online reputation matter. She handled all my queries in a timely manner and she got the job done.”

Oliver W, July 22, 2021

Minc Law is one of the top internet defamation law firms in the United States. We have years of experience protecting individuals’ and businesses’ reputations online. Our reputation management professionals can help stop online attacks, remove negative online content, and improve your business’s online reputation.

If you are ready to get started with online reputation management services, make sure to reach out to us by calling (216) 373-7706, speaking with a chat representative, or filling out our contact form.

So, we know that online reputation is important because it impacts real life behavior like hiring and sales. And legions of potential customers, stakeholders, and employees read what people say about your brand online.

Why is reputation important for CEOs?

A CEO’s reputation is important because it impacts the entire company.

According to a commissioned study by Forrester Consulting, 74% of executives believe their customers tie brand perception to executive perception.

Because CEOs are the face of their company, personal statements have dire consequences for the brands they lead.

Consider the Boycott Goya trend which surged after the CEO praised Mr. Trump but fizzled out before it caused real damage. Or, look at how this CEO’s negative reputation cost his company $96 million in market value within hours. Elizabeth Holmes of Theranos is another example. Her company’s 9 billion dollar valuation evaporated after she committed shocking levels of fraud which resulted in an HBO documentary.

Of course, the opposite is also true.

Tony Hsieh, the CEO of Zappos, has built one of the best reputations of any Fortune 500 CEO. He consistently displays transparency and thought leadership, and he even uses Twitter to personally answer customer concerns and comments. His efforts to boost his personal brand have translated to a positive online reputation for the company he helms.

Why is corporate reputation important?

According to Harvard Business Review, a strong reputation allows businesses to:

• Attract better people
• Charge a premium
• Enjoy strong customer loyalty

Furthermore, HBR explains that because these companies reliably provide sustained earnings and future growth, they have higher price-earnings multiples and market values as well as lower costs of capital.

The impact also extends to consumers.

Google gives consumers instant access to limitless information which allows them to choose between more companies, and do more research than ever before. New customers can read product reviews, investors can learn about a CEO, and job seekers can research a prospective employer. For better or worse, the first page of Google is one of the most important drivers of corporate reputation.

Negative employee reviews will turn away top talent and force you to spend more money on recruiting. A volatile CEO will scare off investors which diminishes access to capital. And bad customer reviews prevent you from being able to increase ecommerce sales.

Why is reputation management important?

It’s probably evident by now that your company’s reputation is its most important asset. But far too often a brand’s online reputation is out of sync with the real world. That’s because search results are curated by an algorithm that uses hundreds of different ranking signals. As such, if you take no action, your search results won’t improve.

However, if you know how to leverage those signals, you’ll be able to influence what appears for branded search queries.

That’s where reputation management comes in. Reputation management acts as the moat and drawbridge to your brand’s digital fortress. Not only do reputation management firms protect your brand, they also build up the kind of favorable content you want your customers and stakeholders to find, right when you want them to find it.

Reputation management can improve nearly every aspect of your business. However, it’s an extremely technical process that requires expertise and collaborative efforts across multiple disciplines. Going it alone, or worse, partnering with a high-risk firm that operates in the shadows can do more harm than good. So, before you partner with any ORM firm, ask them these 10 simple questions.

With that, let’s dive into the importance of online reputation management (ORM).

The market is saturated with good brands vying for customers’ attention. It takes a monumental amount of effort, resources and time to stand out in this highly competitive marketplace. But, most importantly, you need a great reputation.

Your brand’s market performance depends on maintaining a positive brand image.

Revenue

It’s nearly impossible to tie reputation to an exact dollar amount because there are far too many variables. But, we do know that brands with a bad reputation pay heavily when it comes to revenue. VisionCritical calculates the loss of revenue due to a bad reputation at $537 billion in the U.S.!

Want a more specific example? We helped a national furniture retailer recover approximately $32 million dollars in monthly revenue. Read the case study here.

Investors and board members

Investors are vital to the financial health of your business because they grant you access to capital which fuels growth. This investment powers R&D, acquisitions, and team expansions. Board members are also important for their connections and expertise. However, in exchange, investors expect to be rewarded with stable and consistent returns, not unnecessary reputational risk.

Customers

Customers today have dozens of review websites at their fingertips. This is a great virtual word-of-mouth referral system. Unfortunately, these sites can be magnates for angry customers to vent their one-sided frustrations. Negative reviews don’t always tell the full story, but they do heavily impact whether or not a customer chooses to do business with you. Yet, according to Podium, 91% of 18-to 34-year-olds believe reviews are as trustworthy as a recommendation from an acquaintance.

Online reputation repair companies monitor brand reviews and carefully track sentiment to make sure they accurately represent your business. As a result, you’ll be able to step in and fix issues before they snowball out of control.

Employment

It’s not just customers who can leave online reviews about your business. Current and former employees can also leave feedback. The employee-review site, Glassdoor, uses a star rating system for both the company and its C-suite executives. Unfortunately, just like with customer review sites, Glassdoor can be a place for disgruntled employees to seek revenge against a former employer by stretching the truth, or completely misrepresenting it.

Since review sites rank very well in Google for branded keywords, one-star reviews could appear on the first page of your search results. As a result, you’ll struggle to hire top talent, or you’ll pay a premium to convince them to work for you.

Sadly, it’s extremely difficult to get Glassdoor reviews removed. That means the only way to get rid of them is to push them deeper in Google where people are less likely to find them.

Partner with the leading reputation management company

We looked at numerous statistics about why it’s important to build a good reputation, including how a positive reputation impacts your bottom line. Then, we discussed the risks of not taking action or hiring the wosrst kind of reputation management company.

The truth is, at the end of the day you need more than a handful of positive reviews if you hope to shape the opinions of others within your target audience. You need a comprehensive reputation marketing strategy that prioritizes your brand’s online presence just as highly as its offline presence.

But, as we discussed earlier, ORM demands a depth of knowledge around search engine optimization (SEO) that few people have. Because of this, most businesses don’t have the required expertise to bring this task in-house.

In fact, according to a 2005 study by Rosa Chun:

“Most companies don’t have a dedicated internal department that’s responsible for managing corporate reputations. Instead, marketing and communications handles external perceptions, while human resources manages internal culture. Many companies outsource the work to specialized reputation management companies.”

If you’d like to learn more about our strategies or how we’ve helped companies like yours, contact us here. Otherwise, you can read these article about how reputation management works:

• How to Push Down Negative Search Results
• How Much Does Reputation Management Cost?

Building and maintaining a good brand reputation is critical for success in an increasingly online world.

With the internet and social media, in particular, consumers, stakeholders, potential employees, and the general public have access to a vast amount of information about every brand. From online reviews and ratings, social media posts, and influencer reviews, to viral PR nightmares.

The internet has opened brands up for intense and detailed public scrutiny, and brands need to be prepared and equipped to build a good reputation and to protect and manage it effectively.

So, how do you do that, exactly? How do you build a great brand reputation? And how do you measure, monitor, and manage it?

In this guide, we’re covering everything you need to know about brand reputation!

What it is, why it’s important, the advantages of good brand reputation, and examples of good and bad brand reputation.

We then cover how to measure your brand reputation, and how to build and manage a good reputation!

Let’s dive right in!

3 Top Reputation Management Tools

Monitoring and managing your reputation online is no small undertaking. Luckily, there are some great tools developed specifically to help you do it! Here are the top three to consider:

What is Brand Reputation?

In simple terms, brand reputation refers to how a brand is perceived by the public, customers, competitors, and stakeholders.

Your brand reputation is the sum of all associations with your brand and comes from how people perceive it, how they interact with it, and what their experiences are.

The quality of your products and services, customer support, marketing, and public relations, and how you treat your employees all impact your overall brand reputation.

Good brand reputation signifies that your brand is perceived as credible, trustworthy, and desirable. Your customers feel good about interacting with you and generally feel positive about being associated with you.

A brand’s reputation is an intangible asset that is critical for success and closely linked to the brand’s value.

Take a look at this video by London Business Forum on why brand reputation is so important for brands (more on that later too!):

In the past, brand reputation was largely linked to the quality of the goods or services provided, and customer satisfaction in terms of service and support.

A brand’s reputation was based on what the public saw of the company through their interactions with it, word of mouth, and the information supplied to the public by the brand itself. As such, it was fairly easy to manage with good public relations and advertising.

However, the internet and social media have changed the game entirely. People now have access to a wealth of information about every brand at their fingertips. From online reviews and social media to company profiles and information on stakeholders and employees.

In this digital age, every aspect of your brand is open to scrutiny and every impression of your brand can be spread far and wide in seconds.

Managing your brand’s reputation and building and maintaining a good brand reputation are critical. It may seem like an impossibly huge task, but with the right strategy and tools, it is much simpler than it seems!

The Importance of Brand Reputation

Good brand reputation touches on every aspect of your business and offers many advantages:

1. Improved Trust and Credibility

Good brand reputation goes hand in hand with trust and credibility. Brands that have a good reputation and are generally perceived in a positive light are also more likely to be given the benefit of the doubt or forgiven for any mishaps (provided they’re handled well, of course!).

Trust is a key factor, and influences how much people purchase, their loyalty, and whether or not they will advocate for a brand.

Brands that are trusted and seen as credible are not only more profitable, they’re also more resilient. In times of crisis or economic hardship, customers will always choose to support brands they trust and feel they can rely on.

2. Greater Customer Loyalty

Brands with a good reputation enjoy greater customer loyalty. Customers that feel positive about your brand are customers that will buy and buy again.

Customer retention and loyalty are closely linked to profitability. It always costs more to acquire a new customer than it does to retain one. A good reputation is essential to retention and loyalty.

3. Brand Advocacy

Satisfied customers are hugely valuable as brand ambassadors. They will advocate for you through word of mouth, both in-person and online, generating sales and polishing your image in the process.

That said, if you have a bad reputation and people are not happy to be associated with you, they will not advocate for you – no matter how great your products and our customer service are!

4. Higher Sales Revenue

A good brand reputation results in higher sales and profits for many reasons. Improved trust, customer retention, brand advocacy all lead to more sales.

A good reputation also allows you to charge a premium for your products and services without deterring customers who see your brand as valuable and desirable.

5. Attracting Top Talent and Improved Employee Retention

Desirable brands are desirable to employees as well as the public. Brands with a good reputation have higher employee retention rates and attract better talent.

When employees are proud to be associated with your brand, they tend to have higher job satisfaction and will stay with you longer.

When you’re hiring, candidates will research your brand and are less likely to choose brands with a bad reputation. No one wants to be associated with an undesirable brand, least of all employees.

On the other hand, if you’re offering a competitive package and you have a good reputation, you’re much more likely to land the best talent!

6. A Competitive Edge

A good brand reputation is closely linked to high market value. It gives your brand a competitive edge when competing with other brands in your niche.

Brands with a good reputation are more desirable to investors, customers, and potential employees. This makes them more profitable and more resilient. It also gives them the huge advantage of access to great talent and high caliber skills.

4 Examples of Good and Bad Brand Reputations

Building a good reputation for your brand takes time. In addition to having a solid foundation of good practices and policies, you need to be genuine and consistently manage your brand’s reputation.

No brand is flawless and there will inevitably be mishaps, big and small, along the way. It is how you handle those missteps, how you react, and how you do better going forwards that will make or break your reputation in the long run.

In the age of social media and viral content, any mishap or poorly thought-out advert can reach millions of people in a very short time.

Let’s take a look at some examples of good and bad brand reputations:

Two Examples of Bad Brand Reputation

1. Dove

Dove, a brand owned by Unilever, went viral in 2017 after it aired an advert for bodywash that featured a black woman who turned into a white woman in the advert. Given that the advert was for soap, the implication was that Dove could ‘wash away her blackness’.

To say the advert was problematic is an understatement. The backlash soon went viral on social media, and there were more than 30 000 negative posts about the advert in less than a week. The hashtags associated with the posts included #doveisracist and #boycottdove.

This kind of incident can have a massive impact on a brand’s reputation and expose the brand in a negative light to huge numbers of people.

However, these kinds of viral incidents tend to blow over pretty quickly and within a week or two, the buzz has died down again. Most brands will recover quickly, provided they handle it well, course correct, and avoid any further incidents.

Brand reputations sustain the most damage when smaller issues go unaddressed and chip away at their image, eroding their reputation. These brands then develop a stigma and a bad reputation that can be very difficult to recover from.

2. Shein

A brand that has a consistently bad reputation is Shein, the Chinese fast-fashion giant. They’re universally known for extremely poor quality, inconsistent sizing, stealing other brands’ designs, slow shipping, and non-existent after-sales service.

A search for ‘Shein reviews’ yields pages and pages of scathing, one-star reviews, and videos and images of cheap, ill-fitting items.

However, despite their bad reputation, they have grown to be the biggest online-only fast fashion brand. They have done this with a combination of clever marketing and extremely low prices.

They also add new styles daily and they market aggressively on social media, targeting a young and undiscerning audience preoccupied with overconsumption and keeping up with fast fashion trends.

As far as bad brand reputations go, Shein is a clear example of how reviews and social media can showcase the worst of a brand. That kind of reputation would be difficult to change and would take years of work to repair.

If they were in any other niche, their reputation would have killed them before they could even implement any improvements.

Two Examples of Brands of Good Brand Reputation

1. Lego

Lego has an excellent brand reputation. They have long been one of the most well-loved brands, adored by children and adults alike.

Aside from providing a high-quality product and great customer service, Lego is associated with family, community and innovative, creative and educational play.

They keep up with changing values and trends, including initiatives to be more inclusive and more sustainable. Lego is consistently seen as a high-value brand, with good ethics and progressive social values.

Over the years, Lego has built a massive following and firmly established itself as a trusted and desirable brand. Their products are seen as valuable and desirable enough that they can charge high prices and still dominate the market.

2. Patagonia

Patagonia, an American clothing brand, has built a great brand reputation over the years. They’re known to make high-quality goods and offer excellent after-sales service.

However, their focus on social responsibility, corporate culture, and environmental sustainability are what set them apart and give them such a good reputation.

In recent years, issues around climate change, social responsibility, the overconsumption of resources and commodities, and exploitative, unethical labor practices have changed the way brands are viewed by consumers.

As a brand that Patagonia has long been outspoken about social and environmental issues. Their values and ethics reflect those of their customers, their employees, and their stakeholders. As such, they are seen as a trusted brand, that really cares.

Consistency and authenticity are essential for building a good brand reputation!

How to Measure Brand Reputation

Measuring brand reputation is the key to monitoring and managing it effectively. To build a good brand reputation, you need to know if you’re being perceived positively or negatively, and why.

There are many metrics you can use to measure your brand reputation in a way that is meaningful and will help you adjust and fine-tune your brand to build a good reputation.

These will vary depending on factors like how well established your brand is, your location, and the nature of your business.

When selecting the metrics to use to measure brand reputation, consider which metrics will best inform your understanding of the following:

• How well-known is your brand online? Do you have a strong following on social media, and does information on your brand come up readily in search results?
• Are people talking about you? What are they saying and where are they saying it?
• What type of content comes up when someone searches your brand online? Is that content beneficial, neutral, or harmful to your brand?
• What is the underlying sentiment behind the perception of your brand? Do your customers and potential customers view their interactions with you in a positive, neutral, or negative light?
• How does your brand reputation compare to your closest competitors? What are they excelling at and how can you improve your brand with that in mind?

Answering these questions will give you a baseline – an idea of where you stand, and what you need to understand better to strengthen your brand reputation.

Brand reputation is complex and the culmination of many factors. Measuring brand reputation is an ongoing process, which needs to be built into the processes you use to track your marketing and overall business strategies.

Let’s take a look at some of the metrics you can use:

Measuring Brand Reputation – Metrics to Use

The objective of measuring brand reputation, on an ongoing basis, is to keep your finger on the pulse. To understand how your brand is perceived, what influences that, and where you need to intervene.

Monitoring and actively listening to what people say about you, and when and why they say it, allows you to:

• Address any issues that arise quickly and appropriately: Knowing that there is an issue before it goes viral, and understanding the reason behind the sentiment is the key to effectively addressing the issue at hand.
• Understand where your strengths are: Knowing which aspects of your brand are perceived favorably allows you to strengthen and maintain those areas, and which direction to choose when course correction is needed.

Here are some useful indicators and metrics for measuring brand reputation:

• Sentiment analysis
• Social mentions
• Customer satisfaction
• Local search ranking
• Google page ranking
• Number of repeat website visitors
• Online reviews and ratings (quality and quantity)
• Social media reach and engagement
• Share of voice
• Subscriptions and bookmarks
• Conversion metrics

Analyzing these areas of your business will give you valuable insight into how strong your brand reputation is.

Sentiment Analysis is one of the most useful metrics to use, as it gives you a clear snapshot of how you’re perceived by your audience overall.

These metrics can be tracked to see how different interventions impact your brand and your overall brand reputation.

7 Steps to Build a Good Brand Reputation

1. Monitor and be Proactive

Take a proactive approach, and respond quickly and appropriately to any missteps. If brands are quick to intervene and offer appropriate solutions, they can avoid a small misstep becoming a major PR headache.

Responding to critical reviews, comments, and social media posts quickly will not only solve the problem in question, but it will also demonstrate to your audience that you’re genuinely committed to hearing their concerns and making changes.

You can do this with the help of media monitoring tools like Brand24.

Brand24 will notify you when mentions of your predefined keyword appear online. The analytics section will help you determine the severity of the situation.

Here is a perfect example of how efficiently the Reputation Score works in the context of what’s happening around a brand. On the graph, you can see clearly how the situation with Kanye West influenced the reputation of Adidas.

2. Manage Expectations and Be Unambiguous

Under-promise and over-deliver, always. Customer satisfaction is everything when every customer can reach thousands of people with a single angry tweet or negative review.

Set realistic expectations and be as clear as possible about every aspect of your business that can potentially disappoint or frustrate your customer.

Things like delivery times and returns processes should be as specific and clear as possible to avoid any confusion and frustration.

When your customers know exactly what to expect and they get it, they’re satisfied. When they get more than they were expecting, they’re delighted!

3. Be Authentic and Consistent

Authenticity is hugely important for your brand reputation. When you’re authentic, the way you portray yourself and the way you behave are aligned, which makes you more trustworthy and reliable. For brands, this is critical.

Make sure that your brand values translate into your operational practices and that everything you do lines up with how you present yourself to the public.

Your brand is constantly being evaluated and judged online. Discrepancies between what you say and what you do will be noticed, and they will be pointed out.

Consistency is also key – your reputation is made by the small things you do consistently, rather than the big things you do occasionally.

Thankfully, this works both ways and your reputation will survive the occasional crisis, as long as you have a good, consistent track record.

4. Keep Your Promises and Follow Through

To build a good brand reputation, you need to deliver on your promises. Nothing will tarnish your image quicker than misleading your customers or failing to deliver on your promises.

Provide great customer service, before and after-sales. Be quick, honest, and efficient. And follow through. The importance of following through cannot be stressed enough!

Set up systems that let you keep track of customer support and make sure that there is continuity for every query and that the customer is kept in the loop.

Even if it takes days to resolve a problem, letting them know that you’re working on it goes a long way to reducing any frustration.

It is critical that your marketing messaging, product claims and service delivery promises are truthful and realistic. According to Digimind, 80% of reputation damage risks come from a mismatch between the buzz and the reality.

5. Actively Collect Customer Feedback and Reviews

Asking your customers for honest feedback is one of the best ways to find out exactly what your audience likes and dislikes about your brand.

The real-world feedback and information you gather from reviews and customer feedback provide incredibly valuable insights into how your brand is perceived and why. These insights show you what you need to fix or change, and what you need to do more of.

Brands that actively solicit feedback and gather reviews also benefit from improved customer experience and satisfaction because customers feel valued and heard when you ask them for their opinions, especially if you take action and improve things based on what they had to say!

Depending on your brand and the type of business you have, you can use various social proof apps and software to gather feedback from your customers. These solutions can provide you with everything from simple surveys to a detailed analysis of your NPS and customer satisfaction scores.

6. Demonstrate a Commitment to Sustainability and Social Responsibility

The vast amount of information about every brand that is available online gives consumers the ability to be more discerning about the brands they choose.

Commitments to social responsibility and environmental sustainability have become important factors in how brands are perceived, and it is essential brands are transparent and make their position on these issues known.

7. Use the Right Tools to Manage Your Brand Reputation Online

As you have seen, managing your brand reputation is an ongoing, complicated, and time-consuming endeavor. Thankfully, there are tools you can use that will streamline and simplify the process for you!

Brand reputation management tools can help you manage every aspect of your brand’s online presence. From tracking brand mentions, reviews, and visual user-generated content, and the sentiment behind them, to tracking and analyzing metrics like your NPS/customer satisfaction scores.

These tools can provide detailed, actionable insights and can be customized to meet your unique brand requirements.

Using tools to monitor and manage your online reputation is the best way to keep your finger on the pulse, and keep driving your brand’s reputation in the right direction.

Final Thoughts

Consistently monitoring and managing your brand’s reputation online is critical for success.

Brands with a good reputation are more valuable, more profitable, and more resilient. They also attract top talent and have higher employee retention rates.

All in all, building a good brand reputation is essential and gives your brand the competitive edge needed to succeed!

References

Edelman: Trust, The New Brand Equity

GWI: Brand Reputation: Why Measurement Matters

Harvard Business Review: Reputation and Its Risks

Huffpost: 5 Tips to Avoid Setting the Internet on Fire

MDPI: Journal – Sustainability:  The Role of Corporate Social Responsibility Perceptions in Brand Equity, Brand Credibility, Brand Reputation, and Purchase Intentions (PDF)

Mediatoolkit: How Dove’s Reputation Crisis Unravelled on Social Media

RepTrak: Global RepTrak 2021 Report

Reputation X: 2021 Online Reputation Management Statistics

Review Trackers: How to Measure Reputation and Track Reputation Metrics

Statista: Online reviews – Statistics & Facts

Status Labs: 77 Online Reputation Statistics for 2021

Creating a good reputation requires careful effort, sometimes taking months or even years to establish. On the other hand, a business’s reputation can also be demolished in an instant, and it’s a long road to rebuilding.

The best offense for your reputation is a good defense. Being proactive in shaping consumer perceptions and responding to events that could damage your reputation is critical to your success.

What does it take to add reputation management to your marketing strategy? More importantly, how do you keep your reputation sparkly and shiny? Here’s your all-access guide to online reputation management for the long term.

Table of Contents:

• What Does Reputation Mean?

• What Does Business Reputation Mean?

• Brand Reputation Definition

• Why a Good Reputation Matters for a Business

• What Shapes a Brand’s Reputation?

• Business Reputations are Earned – and Managed

• What is Reputation Management?

• Why is Reputation Management Important?

• Benefits of a Reputation Manager

• Check Out These Simple Good Reputation Tips

What Does Reputation Mean?

Let’s start with the basics: what is reputation?

In general terms, reputation is the collective beliefs or opinions people share about something. It could be a movie, a painting, or the state of the world.

Reputation management is often both a goal and a component of CSR strategies.

What Does Business Reputation Mean?

The reputation definition business leaders need to know is roughly the same: it’s the widespread opinion someone has of your company as a whole. This opinion tends to skew black or white: a company is either reputable or not, for example.

For the sake of this guide, we’re going to focus on the brand reputation definition angle.

Brand Reputation Definition

Brand reputation is defined as the image, based on experience, that an individual or an organization has among other actors regarding a certain brand.

Reputation today represents an equivalent for traditional terms such as honor or virtue. For companies with valuable brands, reputation is an important intangible asset, as it influences the individual’s ability to cooperate.

Why a Good Reputation Matters for a Business

Why is reputation important for any business? It sounds obvious that a good reputation matters, but its role can’t be stressed enough. Simply put, a business is only as good as its reputation. This applies to global brands as well as local businesses, and everything in between.

Consumers are increasingly informed about the companies they do business with. In fact, 85% of consumers research brands and products online before making a buying decision. And 86% would pay more for services from a company if they had a better reputation than a cheaper competitor.

What’s more, a company’s digital presence is not like a business card or brochure. It’s a dynamic, evolving, multi-channel entity. Some of those channels you control, like your website and blog. But for others, like Google Reviews, Yelp!, and other review sites, influencer content, and media mentions, your customers are in the driver’s seat.

User-generated content plays a heavy role in your reputation development because people are more likely to trust it compared to company-sponsored marketing.

Interestingly, 76% of companies believe they are better than average when it comes to reputation. That sounds an overly optimistic bell and illustrates companies likely still have some work to do. If you aren’t in the above-average category, then it’s time to raise the bar on what an “average” reputation can do!

What Shapes a Brand’s Reputation?

We’ve covered common questions like “What is reputation?” and “Why is reputation important?”, but brands also need to know the factors that help to shape their online presence.

Reputations go beyond positive reviews or negative reviews, though these do play a role. You can build a strong brand image based on the following details:

• Visual cues. Company name, logo, and all of the imagery related to your visual identity reinforce a consistent brand name.
• Mission, vision, value proposition, or philosophy. The guiding light of a company’s internal culture, these elements have a ripple effect when it comes to corporate reputation.
• Behavior of members within the organization. What people are saying or writing is key. Articles, word of mouth, news, social media, and online reviews.
• The success and positioning of the business. A spot on the Fortune 500 list will contribute to a positive reputation, for example.
• Corporate communications. People can only form opinions on what they know, so make sure you share all the positive things your company is doing.

You have more control over your company’s reputation than you might realize. 

Business Reputations are Earned – and Managed

When you first start your company, you don’t have much of a reputation to speak of. So where do reputations come from?

We see two sides of this coin.

1. Actively pursuing a business reputation
   The first is the reputation your business is actively pursuing. For example, if you’re trying to build a positive reputation, then you might invest in a brand management strategy, media relations, and a reputation management solution.
   Reputation PR can help you promote the image of your company you want others to have. Then, reputation management tools like Meltwater’s can help you track your reputation across channels and see how it evolves over time using media monitoring technology (More on this in a moment, but you can already check out the best online reputation management software on the market).
2. Earned reputation through people interacting with you
   The second side of the coin is other people: your customers, prospects, and the general public. Every time someone interacts with your company, you’re building your business reputation.
   These interactions don’t stop with transactions and customer service. When someone reads a news article, blog post, or social media post from you, they’re interacting with your brand. Other peoples’ content, such as positive or negative reviews, also influences your online reputation.

With both sides of the coin, your business reputation is earned. It comes from the opinions people form when they interact with you as well as from the work you put into it.

Although you can’t tell people how to think about your brand, you can proactively manage your reputation to help tilt the scales in your favor using a reputation management strategy.

Tip: Learn everything about online reputation repair if you need to fix it.

What is Reputation Management?

Just like any other form of management, reputation management includes planning, building, maintaining, nurturing and controlling an organization’s or brand’s reputation with all relevant stakeholders.

To do so, you need a good reputation management strategy in place.

This process can either take place in the digital or the real world. When going digital, it is important to have an online reputation management strategy in place.

Why is Reputation Management Important?

The longer you’re in business, the more your brand image will “fine-tune,” with or without your help. The most successful companies are those that take an active say in how people think and feel about the brand. That’s where reputation management can prove valuable.

According to a 2005 study by Rosa Chun, senior lecturer at Manchester Business School, it’s unusual to find an internal reputation management department that’s directly responsible for managing corporate reputations. Instead, it’s often a shared effort. Marketing and communications handle the external perceptions, while human resources manage internal culture.

Creating, curating, and maintaining a positive reputation for a corporation is no easy task, but one of the most important facets of human psychology is to be consistent. Research by Roger Martin of the Rotman School of Management has shown that a customer’s loyalty to a company or brand relies more on familiarity than organic “trust.”

Customers love to do what feels comfortable, so companies that are quick to change their identity in the face of a PR disaster may be more likely to lose customers in the long run. For example, they might create lots of positive content to make any negative content matter less. The better approach is often a slow and steady one, focused on rebuilding trust through multiple channels.

Benefits of a Reputation Manager

Many companies even outsource their reputation management to firms that specialize in this field. Reputation managers or reputation management companies as a whole provide reputation protection across your entire business. With the help of digital tools, such as social listening, audience sentiment analysis, and media monitoring, a business reputation management service tracks how people view your company.

This allows companies to know where their brand image stands at all times and take quick action against fake news, negative reviews or comments, and brand-damaging press.

Let’s explore some of the benefits of outsourcing brand reputation management:

• Access to Sophisticated, Purpose-Built Tools

• Build Comprehensive Credibility

• Get Responsive, Around-the-Clock Corporate Reputation Management

Access to Sophisticated, Purpose-Built Tools

Brand management firms like Meltwater for clients. This gives smaller companies a huge advantage over purchasing or building their own suite of tools, both of which can be costly. It’s turnkey reputation building that starts on Day 1.

Tip: Check out The Best Online Reputation Management Services & Software 2022.

Build Comprehensive Credibility

Your online reputation is an amalgamate of moving parts, including:

• Online reviews
• Social media mentions
• Guest blogs and reviews
• Media coverage
• Backlinks

This isn’t a comprehensive list. Each of these can be broken down into subcategories, like the various platforms that make up the social media landscape.

In other words, it’s hard to track and monitor all the places where your reputation can grow (or flounder). When you have dedicated resources working on your reputation on your behalf, you gain comprehensive coverage across all channels. There’s less risk of a mention or comment destroying in a moment what took you years to earn.

Get Responsive, Around-the-Clock Corporate Reputation Management

The numbers are alarming:

• 30,000 hours of video are uploaded to YouTube every hour.
• 350 million new photos are added to Facebook every day.
• Over 5 million blog articles are posted to WordPress every day.

The list could go on. Somewhere in the mix could be people talking about your brand.

Having an outsourced reputation management company allows you to keep tabs on your brand image at all times. Discover potential threats among your target customers quickly and snuff them out before they can spread like wildfire.

Check Out These Simple Good Reputation Tips

Building a good reputation isn’t rocket science, but it does take some attention to detail. That’s because some of the simplest things can often be overlooked. So, let’s look at some low-hanging fruits that can help your large company or small business quickly and easily reach new heights:

• Make Timely Follow-Up and Follow-Through Habits

• Help People Reach Their Own Goals

• Make Others Look Good

• Over Deliver and Under Promise

• Present Yourself the Way You Want to Be Seen

• Always Be Aware of Your Body Language

• Be Consistent

• Act with Integrity

• Get Engaged in the Communities You Support

• Be Likable

Make Timely Follow-Up and Follow-Through Habits

Whenever you say you’ll do something, actually do it. This may sound obvious but think about this. How many times did you have a banker tell you he’d send you something, an assistant say he’ll pick something up, or a vendor promise he’d call you back, and they didn’t?

In these cases, you have to follow up yourself, and they lose credibility.

Now, think of a moment when someone said they’d do something and actually delivered. Didn’t that make you feel great? You probably thought highly of that person or business.

When a person has this habit, it stands out –you see them as dependable and reliable individuals, trusting them completely. You’d probably give someone like that a strong recommendation, for instance. Do your best to be that person, and teach your people to be that person, too.

Help People Reach Their Own Goals

Your reputation goes beyond caring for yourself and your own interests. Have a mindset of helping others.

For example, should a friend’s child be in college and interested in learning about the business world, offer to talk to them for a while, answer their questions and give tips. Should you know an individual in sales and learn that they’re looking for a deal, see if you can help them by making a good introduction. 

Make Others Look Good

For companies trying to create a positive brand reputation, your actions speak louder than your words. For earning consumer trust, words from other customers can sometimes speak louder than a company’s actions. Consumers trust other consumers to guide the way when it comes to choosing companies to do business with.

That’s why earning credibility from the customers and companies around you can help to boost your reputation. You can do this when you step up to make others look good – they’re likely to return the favor.

For instance, if a business associate refers you to a certain company as a client, make sure that as a thank you, you manage to make them look great somehow. Give kudos when they’re due, and even when they’re unexpected. When you make the people around you look good, your reputation will grow in a positive direction.

Over Deliver and Under Promise

Never make promises or guarantees you aren’t 110% sure you can’t uphold. This opens the door to reputational risk and is hard to bounce back from.

Likewise, never settle for doing the bare minimum. If improving your reputation is your goal, you can earn more “brownie points” by going above and beyond, even if it’s only a little more than what’s expected.

For example, if someone asks for a reference, offer them three. If you promise to save someone 10 percent, save them 15%. Should you say you’ll follow up in 24 hours, do it in 12. Send hand-written thank-you notes. A small gesture that shows you care can go a long way and do wonders for your reputation.

Improve Your Reputation on Paper

We tend to think of reputations as being based on actions (and they are). But your reputation also has an appearance, and that extends to how you look on paper.

Present your business in the most professional manner possible. For example, choose a company office in a central location, invest in a quality website and a well-curated social media presence, and ensure any material relating to the business is expertly done. It’s the small details that help to create the best impression of your company.

Present Yourself the Way You Want to Be Seen

Speaking of visual presentation, we can’t overvalue the first impression. Your customers, potential leads, shareholders, and even prospective employees are judging you before you open your mouth to speak.

Dress your company for the environment you want to be in. If you want to be seen as a luxury company, then your company colors, logo, visual designs, and even your workplace should be “dressed” to match. If you want people to view you as one that cares about social culture, then you should promote the charities, programs, and initiatives that demonstrate your commitment to social issues.

Always Be Aware of Your Body Language

Every person in your company plays a role in shaping your brand reputation. How they conduct themselves says a lot about your culture, values, and the brand image you want to project.

Give your employees a Body Language 101 crash course. For example, if you have employees in customer-facing roles, remind them to stand up straight to make them look more confident. Nod your head when looking to show agreement, lean into the person you’re talking to at times, and smile on occasion.

Career development company MindTools offers some great tips on using body language to present a stronger image.

Be Consistent

Show your company’s positive qualities across all of your marketing and touchpoints. Your employees should do the same – even when they’re having a bad day. If they’re friendly and bubbly in a certain setting but rude or cold in another, your brand’s reputation will suffer. People have a tendency to share negative experiences a lot more readily than they share positive ones – and this sort of thing spreads quickly.

Authenticity is key to remaining consistent. When you’re true to your brand image, you don’t have to work to be authentic. It comes naturally, which means consistency will also come naturally.

Being inconsistent in the image you project will never lead to a good reputation. People will see different versions of your company and won’t know which one to trust.

Act with Integrity

Integrity is what you do when you think no one is looking. But with the proliferation of social media and content, it’s a good idea to assume that someone is always looking.

Act with integrity in all things. Particularly in the business world, even a small assumed act of selfishness, greed, or jealousy can have a serious negative impact, showcasing a lack of integrity – even if you think you have others’ best interests in mind.

Case in the point: the fight for a $15 minimum wage that has companies across the country split on the best path forward. Many companies are being called out for allegedly not paying their employees a living wage, earning a company negative publicity amid a critical and ongoing worker shortage.

A good example of demonstrating brand integrity is to get ahead of recall notices. Take control of the situation before the media and the public do it for you. Make it clear how consumers can receive refunds and provide helpful information to identify affected products.

This tip also applies to your professional reputation. If you would not buy what you’re selling, do not sell it. If you know that you won’t be able to get back to someone, don’t promise you’ll do it. Professionals’ reputations are often associated with the reputations of the companies they work for, so consider each to be a reflection of the other.

Get Engaged in the Communities You Support

A community might be as small as an office or as large as the whole city. Your brand’s engagement should be aligned with its goals and values. Being engaged means giving your time and resource, getting to know people, and being generally available to them. This breaks down corporate barriers and humanizes your brand, allowing people to get to know the people behind your logo and products.

Be Likable

People do business with people, not brands or companies. Having likable people on your team can make a huge impact on your personal reputation. With a high “like” factor, your team can better smooth over issues with customers and foster positive relationships.

Make a valiant effort to smile more. Approach people you don’t know. Offer handshakes and wish congratulations. Small things can make you a lot more likeable – just make sure that you’re not fake – never falsify who you are just so people like you.

Curating and Maintaining a Positive Reputation

The digital era has invited a whole new way of showing ourselves to the world, one that’s rife with complications for individuals and businesses alike. When you’re doing business with someone in another state or on the other side of the globe, sometimes your reputation is all you have. It’s in your best interest to curate a positive reputation and make it the best it can be.

Want to learn more about how Meltwater’s media monitoring suite can help you track, measure, and manage your online reputation? Get in touch today!