A positive reputation is crucial for the business to thrive in today’s competitive, digital landscape. Such a positive reputation and presence will help in getting reliability and honesty from the audience which is more important for a business. Do you still wonder about the importance of the reputation for a business? Read more on this site to find more.
The Role of Online Reputation
Here are some statistics that will help to know the significance of the online reputation for a business.
- 65% of people consider online search to be the most trusted source for getting information.
- 85% of the customers trust online reviews similar to personal referrals. However, they are reading at least 7 reviews before they take up a product or service.
- 90% of the people admit that they strongly believe the positive reviews found on the online platforms.
- 75% of the customers trust the companies that have more positive reviews.
- 60% of the customers do not want to buy the product or take the service from a company that has negative reviews.
- 49% of the customers are choosing the business at least that has 4-star ratings.
- Remember that anything negative will travel faster compared to the things that are positive. The same is applicable for the reviews as well.
Key Factors to Affect the Bottom Line
A company’s reputation has to do more with impacting the bottom line of the business and profitability. This reputation in the market will lay the foundation for a solid customer base, promising stellar sales revenues. At the same time, the negative reputation will create a serious negative impact on the business.
Reason for Long-Term Customers
Once the customer or clients feel that the business is reputed, there are more possibilities for them to remain with the business for a longer time. Research has also shown that corporate image and reputation are major drivers for customer loyalty reward and retention.
Major Cost Saving with Marketing
One of the direct results of positive customer retention is that the customers will refer to the product or service, where you do not need to spend more on marketing efforts. Thus, organizations that have a good reputation can save a fortune on both online and offline marketing. remember that word of mouth is highly necessary for the growing business.
Attracting the Talent
A company’s reputation will work the attract the top talents. An ambitious professional who can make a difference in the growth of the business can only happen with a good reputation. Most people will go through the company’s background before they apply for the job role.
The bottom line
Thus, you might have got to know about the importance of online reputation for a small business. There are so many ways to get them when you are running the business in the right way. Ensure you are using all the tactics and enjoying the benefits out of the online reputation.