Why Should Your Business Invest In Reputation Management?
By: DigitalOx Ltd
Reputation Management – Why Do It?
• Positive, strong business reputation is a major factor in company value – you're never going to be attractive to future investors if your business reputation is damaged Online
• Pro-active reputation management is a means to grow your own and your shareholders' returns – a better reputation and profile means more clients, which in turn means more profits and more money
• A good reputation provides support for you and your company in times of controversy or when launching new business strategies – even the best company is going to go through a bad time, but how bad and how long it takes to recover depends entirely on your reputation going into it
• When faced with a crisis, companies with good reputations are found to recover much faster – it's easy for people to allow you to recover from one mistake, but when faced with an entire page of negativity on Google they're less likely to believe that this is just one mistake
• A strong company image, backed up by a good online reputation, influences customers to prefer doing business with you over others – endless positive publicity will have an effect on the amount of customers you get through your doors, so the money spent will be earned back in increased business over time
• A strong reputation even increases a company's ability to charge a premium for products and services- you're a market leader, so you can charge as such
• Companies with strong reputations attract and retain the best people – you'll never have a problem attracting and retaining staff if you're seen to be the best Online
Reputation Management, And Barriers To Being Effective At It
• Reputation is an intangible and complex concept, which takes time and patience to change – results will be visible on Google from around the 2nd or 3rd month onwards, but change takes time and patience, you should consider this to be a permanent strategy not a short-term project
• The financial value of improvements to a growing reputation can be difficult to quantify – however, as we mentioned above, you will begin to see the results in your own customer base after working on your reputation for a while
• Senior managers are obliged to deal with their daily workload rather than addressing the company's reputation Online – which is exactly why you should outsource your company's reputation to one of the leading experts in the field, such as us here at DigitalOx (http://www.digitalox.co.uk)
• Waiting for the crisis! When things are good, there's little motivation to invest time and money in pro-active reputation building – Of course, waiting for things to go wrong could mean it'll be too late to fix it, so investing in the company's future should be an obvious choice
• Perceived cost and the lack of understanding of the value – hopefully by now we've addressed some of this point, and our costs are likely to pleasantly surprise you, with our pro-active company reputation management starting from as little as £595 pcm upwards
Reputation Management, and how to know if your chosen reputation management company is doing it well.
Your chosen company should liaise with you at every opportunity, and take time at the beginning of the relationship to understand every aspect of your company and its products, services and customers.
Here at DigitalOx, we always:
• Liaise with our Clients every step of the way, and offer an out-of-hours (evening and weekend) phone or skype catch-up to help at busy times
• Offer Clients editorial control over all articles and news pieces placed Online
• Take time to understand what's important to your business and what areas you want to promote, so we can target those aspects of your business that you want to drive publicity and attention to
• Aim to add significant value to your business, and aim to build a relationship for us to work together on a long-term basis
If anything in this article has resonated with you about your company, feel free to contact us for some free advice and guidance; and if we can put a tailored, bespoke, proposal together for you (also free of charge) we'd be delighted to outline how our services could positively impact your business in the future.