Bad word-of-mouth can cost your business tremendous revenue, and in this digital era, your online reputation is word-of-mouth. Here is what you need to know about online reputation and how to manage it to prevent loss of revenue.
After the dot com crash, people questioned the value of an online presence. But with the persistence of the internet, the social media boom, and the increased accessibility generated by handheld internet-ready devices (AKA smart phones), digital presence took off in ways never before imagined.
Word-of-mouth referral has long been the bread and butter of nearly every business’ revenue, but now that data can be accessed in new ways. People share information about your business in blogs, social media posts, and online review sites. On the one hand, that visibility has greatly expanded who your “friends” are, in terms of referrals. On the other hand, that means that a negative comment or post can spread like wildfire and crash revenue at the speed of digital posts: nearly instantly. Online reputation management is how you stay ahead of the game, prevent revenue loss and make bank.
You can’t prevent revenue loss if you are not harnessing the power of the internet to make revenue. Make an online reputation by:
When you actively create an online reputation, you build revenue in several ways:
But a negative online reputation can cost you in many ways:
When you calculate potential revenue and potential lost revenue in these ways, however, it fits your business, you can see that managing online reputation has a great deal to do with loss prevention. You protect your business from fire. Online reputation management prevents verbal wildfire.
Not all tools are created equal. You can put out a fire with an axe and boots, but water generally works better. Effective online reputation management tools do more to prevent revenue loss than just randomly chopping away at a digital presence and reputation control.
If you are ready to harness the power of an online reputation to both generate revenue and prevent revenue loss, contact us today. We have powerful anti-defamation tools ready to go to work for you. Your online reputation is key to your business success.