“Reputation, reputation, reputation. Oh, I have lost my reputation! I have lost the immortal part of myself and what remains is bestial. My reputation, Iago, my reputation!” (Cassio) Othello Act II, Scene 3
According to WebpageFX, a digital marketing and SEO company headquartered in Harrisburg, PA, about 25% of a company’s market value is directly based on its reputation. Along with word-of-mouth reviews, which are indisputably powerful but nevertheless comparatively limited, a company’s reputation is significantly impacted through online sources. Management of your organization’s online reputation, which is part of your brand, is a must-do.
The online reputation starts with the look and content of the company website and also encompasses reviewing sites such as Yelp, Angie’s List and Trip Advisor and the array of social media platforms from Snapchat to Facebook. If you throw in content marketing campaigns that are distributed through email marketing, I wonder if the 25% impact figure is generous enough?
WebpageFX also reports that organization leaders now take online reputation management very seriously and 15% of organizations have followed through on an online reputation management strategy and 87% agree that managing online reputation risks is even more important than managing strategic risks. Think about it—strategic risks are potentially costly, but when paid and unpaid haters flood the comments section of an influential site, the hapless company that perhaps has done no real harm can be shoved into the abyss.
Online attackers spew a shocking amount of vitriol and their diatribes seem to have a million-year half-life. Blackmail can be involved as well. I’ve personally witnessed the strong-arming of the General Manager of a lovely B & B by –are you ready for this?– a retired police officer who faked a problem in his guest room, refused to be placated by what most would accept as fair settlement for the “inconvenience” and threatened to ruin the business with bad Trip Advisor and Yelp reviews if his request for a free two- night stay (worth $450) was not granted. Rumor has it that he’s played the game to the detriment of several small guest houses across the country. A shoot-out at the OK Corral might be easier to win.
WebpageFX data showed that 91% of consumers search businesses online. When I’ve gone to meet new clients, in particular someone who has been referred to me and whom I’ve not met, they frequently mention that they’ve read this blog and viewed my website. 80% of consumers (presumably B2B and B2C) changed their mind about doing business with a company and 67% will not buy from a company that has received from one to three negative reviews.
Regarding social media sites, participation on the various social media platforms is a given for most Freelance consultants, business owners and corporate and not-for-profit leaders. The extent of your B2B client’s social media engagement as regards their external labor force along with your time and inclination, will determine which social media platforms that you’ll use. Maybe you’ll use one or two platforms, plus publish long-form content sent out as an ongoing email marketing campaign.
Just because you don’t use every available social media platform doesn’t mean that you should ignore those that you don’t use. To the contrary, claim all business listings and social media platform addresses, so that a competitor or imposter cannot assume your identity. Start with your website. Your business name should belong to you alone. Protect your business and buy when possible your business domain name in the .biz and .net formats. if there is a name that is similar to your company name and it becomes available, buy it and save yourself the potential for headaches down the road. Ensure that an imposter cannot claim your name and make sport of you, bear false witness, or commit other devious acts.
On your preferred social media platforms, maintain a reasonably active and consistent presence as you bring value to your readers. Post content that will benefit your organization’s reputation and sales revenues. WordPress allows posting to LinkedIn and my 100 or so connections expect to hear from me every Tuesday.
Finally, if you should receive any negative feedback online, respond quickly and diplomatically. Demonstrate that you regret the mishap and you intend to make amends. As you publicly clean up the mess, you may win a few customers who like the fact that you’re human and you care.
Thanks for reading,
Tall Ships Parade in Boston Harbor June 16, 2017