Reputation management is the influencing and controlling of your brand’s reputation. Originally a public relations term, the growth of the internet and social media have made reputation management a key element of marketing. When it comes to business, reputation management matters. Negative comments spread like wildfire and the last thing you need is to be hosing down a bunch of angry consumers. It’s really important to pay attention to the way you create and manage public sentiment regarding your brand.
Look Sharp – Why It Pays to be On The Ball
Burying your head in the sand and hoping everything will be ok is not an option. All marketing strategies and brand interaction with consumers needs careful thought and attention, so it’s essential to manage your online reputation now. Let’s look at some hard-hitting facts!
- 84% of people trust online reviews as much as personal recommendations with 31% likely to spend more on a business with excellent comments and feedback.
- 72% of consumers will take action only after reading a positive review.
- When customers are unhappy there’s a 91% chance they won’t do business with your brand again.
- Reputation makes up over 25% of a brand’s market value.
- A poor company reputation is expensive – a video created about United Airlines damaging David Carroll’s guitar received 15 million views and cost the company $180 million in shareholders when United’s stock fell by 10%.
Why a Reputation Management Solution Is a Must
The facts speak for themselves. Taking care of how you present your company to the world is a must. With a reputation management solution, you can:
#1 Get Positive New Stories
Positive news and PR around your company is a great way to attract attention for all the right reasons. Whether you’re releasing a new product, running a competition or working hard to improve your corporate responsibility, make sure you’re talking about it. Content can then be positioned in the right places to attract your target market.
#2 Bury Bad Reviews
Bad reviews can and do happen. And they can have a negative impact on business. If you’re a broker in the forex sector, for instance, trust and credibility are important. That’s why burying negative reviews with informative and engaging PRs, thought-leading articles and a creative social strategy is essential.
#3 Boost Your Searchability
According to the Pew Research Centre, 91% of people trust what they see in online search results. Therefore, you want to be at the top of relevant searches with keyword rich content. Position yourself as a reputable brand with lots of forward-thinking knowledge. Offer interesting, innovative and trend-setting content on a regular basis.
#4 Increase Client Acquisitions
Increasing client acquisitions within a competitive online space is not always easy. Firstly, all content needs to be optimised and therefore searchable. That means keyword research is essential. Content must also be relevant, intriguing and enticing. Include call to actions, funnel to landing pages and showcase your best work.
#5 Improve Retention
Good content builds trust and loyalty particularly within the financial realm where people often dig deep for brands they view as reputable. One of the best ways to give your brand credibility is to produce authentic content. Live videos, for instance, can humanise your organisation and encourage interaction. Similarly, AMA sessions, polls and questionnaires show you’re interested in consumer opinion which is important.
#6 Stand Out From Competitors
With companies fighting for attention left, right and centre, it can be hard to get noticed. Unless you dare to do things a little differently of course. Don’t be afraid to get creative. Social media interaction is essential, with a compliant, well-managed strategy helping to extend outreach. Content writing can be repurposed for multiple social platforms too.
If your finance brand is thinking about brand reputation, speak to the Contentworks team. We know how important it is to maintain a good impression for your investors, traders and shareholders. Our competitive monthly solutions will keep your brand name clean and gleaming.