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How bad reputation affects business? It’s no surprise that a bad reputation is bad for business. Statistics show that 93% of consumers read online content to help determine their purchasing decisions.
Another study found that four out of five people won’t conduct business with a company that has a negative public perception.
Harmful online content can cause a business to lose more than 80% of its sales; don’t let it happen. So how bad reputation affects business?
Checking online reviews and social proof helps consumers shortcut their research and decision marking with confidence. Meaning that a poor reputation will ultimately your business in critical condition and suffer in the long term.
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The Online Reputation Competition
It’s one thing for your business to have a good reputation, but how does it compare to your competitors?
If company A has an overall 4.8-star rating from 100+ reviews versus company B’s 4.9-star rating but one review…guess which option most people will choose.
There’s no question that company A has taken more initiative to handle its online reputation than company B.
Internal vs. External Effects of a Bad Business Reputation
Yes, reviews are essential and are a significant factor in a customer’s decision-making process, but note that external elements aren’t the only thing a business has to worry about.
For example, the Los Angeles Clippers owner, Donald T. Sterling, was banned from the National Basketball Association (NBA) after private recordings of him making racist comments were leaked to the public.
The incident brought a bad light to the organization, and as a result, their brand and business suffered immensely. Because employees are chosen representatives, anything problematic they do outside of work can also bring negative attention.
Even if it is not business-related, bad news means bad business, and management will take appropriate measures to minimize the damage.
Invest in a Crisis Reputation Management Plan
How you spend your money says a lot about who you are and, most importantly – what you are willing to support financially. Good businesses attract the right consumers.
Like you and me, everyone enjoys leaving the store feeling confident and satisfied with their purchasing decisions.
For the most part, people will not be open to spending their money on a company with a tarnished reputation.
How to Fix a Bad Business Reputation
When everyone is connected now more than ever, companies must prioritize customer satisfaction and have experts managing their online presence.
Think of online reputation management as a shield, and it minimizes the damage of harmful content you might face in the future.
Stop waiting and take back control of your business reputation now!
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Bad Reviews Prevention
Attack the problem at its core! Most costumers voice their complaints online as a last resort.
Train employees on handling customer complaints by taking ownership of the issue and offering solutions to ease them.
Taking charge of their issues suppresses their anger and prevent them from making unwanted actions.
The Power of Social Media
Business social media accounts are essential now more than ever! According to Forbes, in 2019, 79% of the United States’ population had an active social media account.
Establish various social media channels to promote your business and post engaging content that your followers will love!
Social media helps businesses build and strengthen their relationship with their customers.
Request Positive Reviews
Don’t be shy! Ask your loyal customers to write an honest review to combat negative ones.
Satisfied customers are more than happy to take a few minutes of their time to support a business they enjoyed.
Promote yourself! Write positive content about your company and have it officially published with an appropriate publicist.
Whether you are launching a new service or hosting a charity event, let the public know!
Work With Online Reputation Services
Don’t have the knowledge or human resources to handle your harmful online content?
Choose a trusted online reputation management company with the resources and expertise to handle all your online reputation needs.
Conclusion: How Bad Reputation Effects Business in 2020
Great businesses never underestimate the power of online reputation and what it can do. With millions online, let them see your business in the light you want them to.
Take control of your online reputation and let it work for you rather than against you. You built your business from the ground up, don’t let anyone else tear it down.
About Us Net Reputation
Marketing your business takes a lot of time and is no easy task. Work with a team of online reputation management experts that are dedicated to your success. We are committed to grow and create your online reputation.
Our goal is to provide world-class online reputation management services to our clients by utilizing the latest technology and processes. We work to restore, improve, or create an online presence for businesses and individuals through various methods.