A good reputation is worth a lot more than you might realize.
Not only is having a good online reputation linked to higher trust in your brand, increased profits, and better talent, but it also improves marketing efforts. This blog will focus on the link between a positive corporate reputation and lower marketing costs.
A business with a good online reputation practically markets itself. People are naturally attracted to companies that share their values and mission. They’ll choose companies like this over the competition, pay more for their products or services, and then go on to promote it (for free!) through online reviews and social media posts.
In fact, consumers are willing to spend 9% more for products from a company with a positive corporate reputation, and an even higher premium when there are desirable extra features.
Consumers are willing to spend 9% more for products from a company with a positive corporate reputation.
Make your company stand out from the competition because of its reputation, not because of marketing, advertising, or PR. Although you should definitely continue to market your business, your marketing team will have a much easier time if it already has a positive image.
A good online reputation can lead to:
Increased brand awareness
Brand awareness deals with the level of familiarity people have with your brand. If your target audience is able to recognize your brand, they are likely to choose it over of the competition.
Establishing brand awareness is critical for business success, and is usually attributed to your marketing team. But a lot of the work to build brand awareness can be done by improving your reputation. Getting people to know and trust your brand is a huge part of reputation management.
Here’s how it can be done:
- Optimize your owned properties: Make sure your website is in great shape and includes a blog that you update regularly. Claim and monitor your social media channels. Owned channels like your website, social media, and other profile listing websites are a great opportunity for you to put your best foot forward on the internet and show potential customers what your brand is all about.
- Focus on reviews: Although reviews aren’t something you have a lot of control over, the way you respond to reviews is a reflection of your overall brand. In short, your review management strategy can make or break your brand. People will remember if you respond politely to reviews (especially negative ones) and will probably talk about it with their friends and family.
- Create valuable content: The more buzz you can create around your brand the better. Most reputation management strategies will include creating content for your brand. By sharing your content on different sources, you can reach a larger audience and increase your brand awareness.
Free marketing and promotion in the form of reviews and social media posts
People are quick to share their opinions of things, whether that’s a new restaurant that opened in their neighborhood or a …read more
Read more here:: B2CMarketingInsider