Why Your Small Business Should Hire a Reputation Management Firm

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Running a small business is not easy and you must scrutinize every cent which is spent to ensure that you are going to make sensible financial decisions. The key to making financial decisions is to ascertain whether you are going to receive a strong return on your investment and one such area of investment which not enough businesses are making, which provides a very strong return on the investment is the hiring of a reputation management company. Many reputation management consultants complaints which people have when discussing small businesses are highly unfounded and here are just a few reasons why you should genuinely consider a reputation management company for your small business.

How Are You Doing?

There is a huge amount of companies who have no idea what their online reputation even looks like and fail to understand the level to which this can affect business. If you want to understand what your online reputation is and see just how much it could be causing harm to you business then you need to hire professionals who have your best interests in mind.

Competition

Strong reputations lead to higher trust for customers which in turn leads to higher sales. All of this collectively improves your market share and can take you above the competition. If you are falling behind your business enemies then consider what damage your online reputation might be doing to you, a single negative review can see you losing a huge amount of sales and if you don’t get on top of it then who knows how much more you will lose, and how much further ahead your competition will move.

Future Plans

If you are blind to what your online reputation is and you invest heavily in an digital marketing strategy for example, you could very well be shining a spotlight on a company which has criticism across the internet. This will not only see you waste your money but also exasperate the problem. Hiring a reputation management company will ensure that the image which you want to put across to consumers is accurate so that when you do make future plans such as marketing or a growth strategy, you can do so safe in the knowledge that this is the image the consumer will see as well.

Higher Sales

The reason why a reputation management firm investment has such strong ROI is because it will ultimately increase and general more sales for your business. AS mentioned before, a single negative review could potentially scare of hundreds, even thousands of clients if it is left unanswered ( should it be true, ) or left on the site if it is a falsehood. The key to business is about making money and the way we do that is through sales, if there is anything which is standing in the way of you selling your products then it must be addressed as soon as possible.

How to Manage Your Online Reputation if You Run a Hotel

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If you are a hotelier, you will know how important it is that if your productivity and guest satisfaction levels rise, so will your profitability. One key way to achieve that, and to monitor it, is through the work of an online reputation management company.

Why Reviews Matter

In February 2010, eMarketer reported that customers trust reviews 12 times more than official descriptions. That is huge! And we now also know that most people look up these reviews online. So much so, in fact, that entire websites are dedicated to it.

Online Reputation Management (ORM) for Hotels

Hotels need to engage in ORM by analyzing their customers’ feelings, looking at guest reviews. Often, algorithms are created for this, which comes up with quantifiable data and metrics that can be used to improve the current situation. These algorithms are very powerful and create scores based on customer reviews, while at the same time taking into consideration:

  1. The age of the reviewer.
  2. How often they have left review.
  3. What the source of the review is.
  4. What the preferences of the guest were.

This is hugely important data that can tell a hotel where they are doing well, and where they need to improve. In August 2010, Channel Advisor’s ‘Consumer Shopping Habits Survey’ demonstrated that customer reviews influence 83% of all shoppers! Meanwhile, in November 2012, Late Rooms reported that 35% of people looking for a hotel room will only do so after they have read positive reviews.

Of course, there are other challenges that hotels face as well, which is why they have to be so proactive. Data monitoring, however, is a key way in which to address all those challenges. Hence, a good hotel should have staff that monitors the internet, and particularly social media, an is proactive in spreading positive reviews about the establishment.

One of the key other challenges for hotels, however, is that of internet security. They handle very sensitive data and are therefore sometimes reluctant to have a strong online presence. However, a strong online presence instantly improves a reputation as well. Some of the things you should do, therefore, include:

  • Checking reviews from all different sources.
  • Having an ORM program in place so that reviews can be answered from a singular dashboard.
  • Sharing negative reviews internally to improve services, and sharing positive ones externally to improve reputation.
  • Collecting guest feedback as standard.
  • Collecting data across a range of different data sets.
  • Monitoring what the competition is doing.

Hotels live on their reputation. People who have never stayed in The Ritz, for instance, still know that it is expensive and of fantastic quality. It is about building a name like that of The Ritz, one where you ensure that if someone finds themselves stranded in a city, they will know that your hotel is available and that they will have a comfortable, high quality experience when they are there. That is reputation management.