Want to Stand Out? Try Reputation Marketing

by Lynn Ventimiglia-Lobit

June 26, 2020

in Branding, Marketing, Reputation Marketing, Sales & Marketing

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Impact Your Brand with Reputation Marketing

Your brand is one of your company’s most valuable assets. However, it can be tarnished very easily, especially in today’s digital review world. In fact, only 13 percent of consumers will consider doing business with a company that has an online rating of one or two stars. To combat such public negativity and to build a positive image, reputation marketing has increasingly become the answer.

Understanding Reputation Marketing

Reputation marketing is a strategy that your company can use to better understand what is being said about it online. This can include digital content such as reviews, comments made on social media and in online forums, and traditional press releases and articles. Reputation marketing includes focusing on the promotion of positive content from these different mediums. However, it not only just deals with the positive. This strategy also provides an understanding of the negative to help improve your company’s brand, overall online reputation, and ultimately sales.

Benefits of Reputation Marketing

Reputation marketing is an ongoing activity, but the strong review base that it provides is well worth the effort. This marketing tool offers multiple benefits:

1. Business Growth

Reputation marketing is a great tactic to grow your business exponentially. However, an effective program requires positive reviews across a variety of review outlets. Many people have their “go-to” review sites and may even consider others unreliable. By having your company reviews across a wide range of sites, your reputation marketing program can certainly result in business growth.

2. Advantageous Pricing

A large number of online positive reviews can translate into pricing power. By demonstrating your business is better than the competition, you have the ability to charge more. Customers are willing to pay more if they think they are going to receive a superior product or service from your company.

3. Trust

As you have probably heard before, people do business with others they like and trust. Positive reviews provide a level of trust that is often difficult to demonstrate to first-time customers. However, if many other customers take time to write a positive review about your product or service, your company has turned into a trusted brand. Trust can be difficult to build using other marketing deliverables. This level of trust is important for acquiring new customers as well as for maintaining your base of repeat ones.

4. Competitive Edge

Reputation marketing is a valuable marketing tool that can provide a competitive edge. You can tout your product’s many benefits, but when your customers boast about them, it makes them that much more credible. These positive online reviews can be used across a variety of marketing mediums. You can post them to your website and social media pages as well as use them in more traditional marketing deliverables such as a brochure or a direct mail piece. With positive reviews, your business will stand out from the competition.

Reputation Marketing Statistics

All the reputation marketing benefits mentioned above may sound important. However, maintaining a 5-star online reputation may be more critical than you think as demonstrated by the statistics below:

Personal recommendations are still considered very important today. However, with the increasing use of digital sources to find the best company for a product or service, online reviews have become almost as key. According to a recent study, 85 percent of consumers trust online reviews as much as personal recommendations.
Unfortunately, a company can have negative online reviews too. These can impact a business greatly. Negative reviews will cause 60 percent of consumers to take their business elsewhere.
A perfect reputation can be hard to maintain, but 49 percent of consumers need at least a four-star rating before they choose to engage with a business.

Do Not Underestimate the Value of Your Company’s Reputation

You have worked hard to build your company brand. Your reputation is a key component of this asset. With reputation marketing, you can determine your company’s public image by promoting, monitoring, and growing your positive online brand content.

If your company’s online reputation could use a boost, our reputation marketing program can do just that. To learn more, contact us today at 847-269-1422 or info@diamonddogmarketing.com.

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