Although it remains true that good branding and reasonable marketing strategy for your online business can encourage good turnover, the impact of social media platforms is an important consideration that could make or break your current business.
Consider Adidas’ innocent tweet in 2013: “Congrats, you survived the Boston Marathon!” Adidas received numerous negative feedback on social media for its poor choice of words. Customers’ reaction was in light of the Boston Marathon bombing.
Failing to consider online reputation management can be damaging to businesses. On average, companies can lose of up to $4.3 million in global sales due to poor reputation management. There is, however, no need to be alarmed. Understanding how your practice of reputation management can help your business avoid these fiascos can make all the difference.
Having a proactive approach towards your business’ reputation can be a competitive advantage. During social media monitoring, the ability to react proactively and communicate towards your target market can relay branding towards the target market’s end at the most personalized level. This fosters a positive and authentic branding to your target market, garnering consumer trust.
Good Reviews Boost Good Business
Consumers affect potential and existing target markets. Dissatisfied customers are quick to express their dissatisfaction through social media platforms. The same is true for positive reviews. The Local Consumer Review Survey (BrightLocal, 2014) suggests 88% of consumers determine the quality of a local business by reading reviews while 72% of consumers that read positive reviews of businesses make them trust more. Focusing on achieving good reviews by being critical of your reputation management can increase consumer trust and influence potential customers.
Establishing strong reputation management is a way for your business to track, understand, and reach targeted audience. Not only does it offer an avenue to communicate but also an avenue to understand and provide strategies to capture your target market. In tracking customer reactions, reviews, and experiences of your product and services, your business has a way of scaling whether or not your business is on top of the competition. More importantly, it allows you to address changes in competition that directly affect your current product’s marketability and the changing consumer preference. As such, solid reputation management is a good way to start boosting brand and consumer value to leverage your business proposition.
Focus on the Highest Impact
The marketing value of your marketing strategy all boils down to its impact on your target market. This is the relevance of developing a sound reputation management. Your brand relies entirely on your consumer’s perception of you. Focusing entirely on boosting consumer perception through garnering consumer trust is the way to effectively leverage on both your consumers and your resources. As consumers directly affect your business, focusing initiatives that directly impact and communicate with consumers is a good way to go.
The boom of technology has shaped the way organizations do business. It is not a matter of anticipating further change to meet up with consumer behavior, but a matter of adopting and leveraging on these changes to continuously stay on top of the game. Despite the risks that it possesses, the dominance of technological platforms that can facilitate and improve reputation management, alongside with a sound marketing strategy, is a necessity to further business opportunities.
More importantly, improving your business' reputation management may be as easy as transitioning and organizing your current platforms. Start aligning your current marketing strategy. If you don't have web online presence, start building one! Be bold and creative about it. Subscribe to web hosting applications and refer with online analytics to track your reputation. Reputation management can be just as easy as several clicks away.
If you need extra help, BlueWing Hearing Care is happy to provide it! Reach out to us today at (708) 689-3395 to find out how we can help build your reputation to become the trusted hearing care provider in your area.