Politics and Business
4 Ways To Protect & Improve Your Business Reputation
To grow your business, it’s important to protect and improve your business reputation. Consumers often perform online research about companies, before they commit to making a purchase. If your company isn’t represented well online, you’ll suffer reputational damages, and miss out on sales. According to Igniyte, ‘93% of people say online reviews impact their buying decisions.’
Negative articles can severely harm a business reputation, Igniyte also discovered that, ‘Companies risk losing 22% of business when potential customers find 1 negative article on the first page of their search results and 70% of potential customers with 4 or more negatives.’ To protect and enhance the reputation of your company, there are several steps you can take.
1 . Use an online reputation management company
To improve your reputation, it’s worth hiring an online reputation management company. A reputation management company can help your business to assess your online reputation, and ensure that you are favorably represented. These companies will use several different tactics to shape your reputation, for instance review acquisitions, managing content and social listening and monitoring. They’ll track third party websites, to look for positive and negative reviews. A reputation management strategy can also help you to monitor the activity of your competitors.
- Focus on CSR
Corporate Social Responsibility is all about considering how your business affects society, and aiming to have a positive influence. A CSR strategy focuses on social issues, political issues, and community issues. To strengthen your CSR tactics, businesses must consider how they can drive positive change, using their products and their voice. To improve your business rep it’s worth focusing on improving your CSR plans.
According to Impact, ‘Studies show that CSR functions are responsible for more than 40% of a company’s reputation.’ Additionally, ‘87% of consumers said they would be willing to buy a product or service based on a company’s advocacy concerning a social matter.’
- Social listening tools
To monitor your reputation online, it can be useful to use social listening software. For a few options, try the following:
- Falcon: Businesses can use this tool for both customer experience and social media management. The software offers features for social listening, scheduling, analysis and targeting.
- Keyhole: Using this tool businesses can analyze Instagram and Twitter. With Keyhole you can track mentions, hashtags and trends. Brands can also use this tool to access heatmaps, demonstrating how engagement and mentions are different across various locations.
- Insurance protection
To properly protect your business it’s vital that you get yourself adequate insurance protection. Businesses need to get general liability insurance cover, this type of cover protects you financially if an individual attempts to sue you. For example, if a member of the public incurs damages to their property or their person, and you are at fault, they may attempt to claim compensation. To learn more about business insurance options take a look at Coterie.
With the right protection and management, you’ll grow your business and improve your appeal within your target market.