Business owners looking to achieve resounding success must pay particular attention to reputation.
Reputation refers to people’s collective opinion regarding a business (including customers, prospects, employees, and stakeholders).
In the Internet era, reputation matters a lot (and it can make or break a business).
A good reputation creates company value, converts more leads, promotes good relationships with customers, and brings higher revenue and business opportunities.
On the other hand, a bad reputation can cost businesses money in terms of recruiting costs, not to mention the trust loss and sales decrease.
Therefore, entrepreneurs need to focus on reputation management by monitoring and influencing their businesses reputation.
12 Tips To Strengthen A Company’s Reputation
- Showing consistency: NAP (Name, Address, and Phone Number) consistency refers to displaying the same contact details across the Internet. NAP consistency makes a business appear more legitimate and reliable.
- Improving customer service: Good customer service never goes unnoticed. There are many call answering services available delivering excellent customer service at nominal prices (for example, cost-effective virtual receptionists are perfect for start-ups and small businesses).
- Keeping promises: Breaking brand promises leads to disappointment and trust loss. Entrepreneurs must pay particular attention to brand strategy in order to avoid under-delivering (and also over-promising).
- Using a professional business address: Start-ups and small businesses registered with a home address come off as unprofessional and unreliable. Professional virtual addresses are an excellent solution for companies looking to enhance their reputation while running remotely.
- Being a great employer: Employees are a company’s most valuable assets. Thus, business owners and managers should treat them well, show flexibility, give feedback, and act as dedicated team builders.
- Answering negative reviews: Responding to negative reviews isn’t an easy task. However, apologising and providing an explanation helps businesses protect their online reputation.
- Answering positive reviews: Replying to positive reviews with gratitude is as important as responding to negative ones. Saying “thank you” for positive feedback shows appreciation and engagement.
- Getting involved: Business owners looking to enhance business reputation and increase brand awareness should get involved in the local community by offering free services or discounts and sponsoring local events and charities.
- Increasing social media engagement: Social media is an excellent platform to communicate with existing and potential customers. Businesses should write posts regularly, create discussions, and use video materials to grab attention.
- Using testimonials: Testimonials are essential to a business’s sales funnel (because they increase trust and strengthen reputation). For example, business owners can dedicate a separate landing page to testimonials or success stories.
- Rewarding customers: Rewards create loyalty and strengthen business reputation. There are many ways to reward customers, such as offering discounts, giving away free items with multiple purchases, creating loyalty cards, etc.
- Working with influencers: Collaborating with influencers with an excellent online reputation is an effective way to build reputation and credibility (because more than 90% of people trust recommendations made by other people).
One of Warren Buffett’s most famous quotes says that “it takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
Therefore, business reputation is breakable, and business owners and managers need to strengthen their efforts to maintain it.
Reputation plays a vital role in creating a powerful brand, and every business needs to build a stellar reputation in order to garner success.
Images source: pixabay.com