Why Reputation Marketing?
What Happened to Reputation Management?
Maybe the first thing you ask is why do either one – reputation marketing or reputation management?
The answer is often looking you straight in the face every time you go on the web and go to your business website. Is your site being found by your local market?
Your online reputation often is a major determining factor, and I’ll show you why in a second… Google and Bing both rely heavily on your business reputation online to determine who should be listed at the top of the local search results.
Your business online reputation is used in paid ads, in reviews, and in organic search results.
You can’t avoid it.
It’s not our position to try to convince you, as we just rely on the facts.
So here are some facts about online reputation and consumer surveys that will help you understand why using reputation marketing is a fast, and powerful way to significantly boost your local market authority, and get customers from online searches you currently lose to competition…
From Bright Local Consumer Surveys…
- As of 2015, 92% of consumers now read online reviews before making a purchase
- 68% say they trust a local business based on positive reviews
- Your “star rating” is the number one factor used by consumers to judge a business
- 40% of consumers form an opinion by reading just 1-3 reviews (vs. 29% in 2014
Other facts you must know…
- Harvard Business Review found a one-star increase in Yelp rating leads to a 5-9 percent increase in revenue.
- Nielsen consumer surveys, online consumer reviews are the second most trusted source of brand information and messaging, with 70 percent of global consumers surveyed online indicating they trust messages on this platform, an increase of 15 percent in four years. Online referrals by friends and family top this.
- A 2014 Reading University Study indicates that a positive customer review counteracts a negative consumer review more effectively than a positive brand response
- The Royal Economic Society found moving from 3.5 stars to 4 stars increases the chance of a restaurant selling out during prime dining times by another 19 percentage points.
There are other recent consumer surveys showing even higher reliance by consumers on online ratings in reviews in determining your market authority and choosing their place to buy.
Why Reputation Marketing vs. Reputation Management?
At ThinkBigandGrow Media, our job is to make your business dominate your market.
Managing anything generally results in simply maintaining your current status. If that’s what you want, then you can get one of the cheap reputation management consultants elsewhere.
We choose Reputation Marketing because marketing is aggressive and proactive and, unlike management, marketing your reputation makes you money.
Reputation Marketing is Building A Five Star Reputation to establish your Local Market Authority, And Then Marketing Your Reputation To Get More Customers.
In fact, we have found with clients taking some simple basic reputation marketing steps, their market authority improves rapidly. With a complete program or Reputation Marketing, they dominate their local markets. With that in mind, imagine which is best for you…
- Spending money managing your reputation, yielding little results in the form of sales, thus a low ROI or even negative ROI.
- Or spending money marketing your reputation and yielding high payoff results in the form of new sales and long-term customers with a high ROI.
Do you see how reputation marketing makes a huge difference for your business?