The Benefits of Reputation Marketing

Few things are more important to a small business owner than reputation marketing, especially with the evolution of the internet. In basic terms, this type of marketing is based around the comments made by your existing customers on social media websites. If you receive a number of positive reviews, you are likely to attract new clients. If you receive too many negative reviews, there is a good chance that they will scare potential customers away. Most customers now read online reviews before visiting a local retail location, making reputation marketing vital to your overall success.

Attracting New Customers

The most important way in which reputation marketing helps you is by bringing in new customers. If a potential customer is attempting to choose between your company and another one, there is a good chance that he or she will read some online reviews. Once this occurs, the customer is likely to choose the business that has the more favorable reviews, as this gives the customer a better chance of having a positive experience. Every new customer that you miss out on costs you money, so putting effort into building solid reviews online is essential for a successful business. Take the time to give every customer great service and you will see new customers coming through your doors immediately.

Retaining Customers

Even if you have had positive interactions with a particular customer, you constantly run the risk of losing that customer. This is because other businesses will attempt to attract your customers to build their own companies, so you must work just as hard at keeping existing customers as you do at attracting new ones. If an existing customer looks at some reviews online and sees that commenters are happier with another business than yours are, there is a chance that the customer will give them a try. If your business has by far the best reputation, however, you stand a good chance of retaining any customer that researches your company.

Making Money

Overall, close to 70 percent of all consumers read online reviews and trust what they say about a product or service. Therefore, reputation marketing can have a huge effect on how much money you make. If 70 percent of customers in your area visit your competitors instead of you because of your social media score, you are losing out on a large number of sales. Research has shown that you can generate an addition 5 to 7 percent in sales for every star rating increase on a website like Yelp. Customers are looking for the most for their money and if online review sites say that you are the best, people are sure to visit to find out why.

Small Businesses

While larger businesses can usually recover from a poor social media score, small businesses need a good reputation to succeed. For example, Denny’s is a nationally branded restaurant chain and people know what they are getting whenever they visit. While they do not have the best food, they remain popular because of their ability to market themselves beyond reputation marketing. Small, local restaurants do not have the same assets at their disposal and, therefore, have to do everything possible to improve their reputations to increase their customer base. In the end, reputation marketing is vital to every offline small business because of how quickly it can bring in new customers.
– See more at: http://trumanmarketing.com/reputation-marketing/#sthash.wXshNyyx.dpuf

The Benefits of Reputation Marketing

Few things are more important to a small business owner than reputation marketing, especially with the evolution of the internet. In basic terms, this type of marketing is based around the comments made by your existing customers on social media websites. If you receive a number of positive reviews, you are likely to attract new clients. If you receive too many negative reviews, there is a good chance that they will scare potential customers away. Most customers now read online reviews before visiting a local retail location, making reputation marketing vital to your overall success.

Attracting New Customers

The most important way in which reputation marketing helps you is by bringing in new customers. If a potential customer is attempting to choose between your company and another one, there is a good chance that he or she will read some online reviews. Once this occurs, the customer is likely to choose the business that has the more favorable reviews, as this gives the customer a better chance of having a positive experience. Every new customer that you miss out on costs you money, so putting effort into building solid reviews online is essential for a successful business. Take the time to give every customer great service and you will see new customers coming through your doors immediately.

Retaining Customers

Even if you have had positive interactions with a particular customer, you constantly run the risk of losing that customer. This is because other businesses will attempt to attract your customers to build their own companies, so you must work just as hard at keeping existing customers as you do at attracting new ones. If an existing customer looks at some reviews online and sees that commenters are happier with another business than yours are, there is a chance that the customer will give them a try. If your business has by far the best reputation, however, you stand a good chance of retaining any customer that researches your company.

Making Money

Overall, close to 70 percent of all consumers read online reviews and trust what they say about a product or service. Therefore, reputation marketing can have a huge effect on how much money you make. If 70 percent of customers in your area visit your competitors instead of you because of your social media score, you are losing out on a large number of sales. Research has shown that you can generate an addition 5 to 7 percent in sales for every star rating increase on a website like Yelp. Customers are looking for the most for their money and if online review sites say that you are the best, people are sure to visit to find out why.

Small Businesses

While larger businesses can usually recover from a poor social media score, small businesses need a good reputation to succeed. For example, Denny’s is a nationally branded restaurant chain and people know what they are getting whenever they visit. While they do not have the best food, they remain popular because of their ability to market themselves beyond reputation marketing. Small, local restaurants do not have the same assets at their disposal and, therefore, have to do everything possible to improve their reputations to increase their customer base. In the end, reputation marketing is vital to every offline small business because of how quickly it can bring in new customers.
– See more at: http://trumanmarketing.com/reputation-marketing/#sthash.wXshNyyx.dpuf



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