If you are a marketer, an online reputation is crucially important as one of the main asset of your business. The trend has changed in the marketing world. It shifted literally from direct marketing to reputation marketing. Reputation marketing is simply means establishing a good name of your brand, organization or your business and markets it by using trust factor that you have created in the mind of your customers.
Let’s look at some of the statistics below to understand it better.
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” – Warren Buffett
A very good example of explaining this concept would be Ebay.com which is an auction service that uses a system of customer feedback to publicly rate each member’s reputation. A study has found out that a good reputation added 7.6 % to the price received. An online reputation is the perception that one has on the Internet based on their digital footprint. Digital footprints accumulate through all of the content shared, feedback provided and information that created online.
In reputation marketing, the “YOU” factor plays a key role. You should ask yourself “Why should people listen to you?” Why you instead of your competitors, their neighbors or the girl next door. What you have that is unique to make them respect and listen to your recommendations or what you have to say to them? In today’s digital world businesses are struggling to get the customer’s attention. But before capturing your audience’s attention, you should give them a ground rule to make them listen to what you have to say. Give them a strong reason in trusting you. One of the ways to do it is to by providing value to your audience.
People listen to authorities or leaders in their industry. Let yourself be the go to guy when it comes to your industry. You want to be the expert that people would choose to listen to your recommendations. It was found out those users that have the word “Expert”, “Guru” and “Author” have more Twitter followers and fans. But it does not mean that I’m telling you have to go use these words in order to have more Twitter followers. Don’t be shy to recognize yourself as an expert if you really do have the expertise in your industry. Instead let people know and recognize your expertise.
Remember that your reputation is the most valuable asset. It can take years to build up and only a few minutes to break down. Your reputation is what creates trust and make business possible. Without a good reputation, you are going to find it difficult to get new business or customers.