What is Reputation Marketing?
Reputation marketing promotes positive brand content, including customer feedback, product reviews, social media posts, and traditional media coverage, to help build and maintain a strong online presence. In contrast to reputation management, which focuses on influencing negative perceptions, reputation marketing aims to increase positive impressions and boost sales.
While there are many similarities between the two strategies, reputation marketing emphasizes promoting positive content to improve a brand's image and subsequent sales. This differs from reputation management, which focuses mainly on managing existing negative opinions and perceptions.
The term "reputation marketing" is often associated with paid advertising, while "reputation management" is commonly thought of as part of PR campaigns. However, both terms refer to the same practice—promoting positive brand content to strengthen a brand's online presence.
Definition of reputation marketing
Reputation marketing promotes positive content from third-party sources, such as online reviews and social media posts, to improve your online reputation and create a line of defense against potential damage. Reputation marketing combines reputation management and brand-building strategies to lead to better opportunities and effectively create a line of defense against potentially damaging content.
Businesses often think about online reputation management when it's too late. They wait until they are hit with negative press, negative reviews, or other damaging online content and then scramble to fix things. But what if there had been a way to proactively manage your reputation before finding yourself in a crisis? What if there had been a strategy that could help you build your brand authority and credibility long before you needed it?
The good news is that reputation marketing offers an opportunity to build your reputation, authority, and credibility before you find yourself in trouble. You can use reputation marketing to promote positive content from trusted sources to demonstrate your expertise, position your brand positively, and give people reasons to trust you.
What reputation marketing accomplishes
Reputation management is about ensuring your brand doesn't look like a jerk. And while there are many ways to do that, some experts say reputation marketing is the most effective way to protect your brand. In fact, according to our research, reputation management generates $1 billion yearly in sales.
The study found that companies that invest in reputation management generate $1 billion in annual sales compared to those that don't spend money on reputation management, which generate just $100 million annually.
According to the report, "reputation management is the single biggest driver of sales," generating $1 billion in annual revenue for businesses that use the tactic.
So how does reputation management work? First, you need to build up your brand. This involves developing a strong identity and reputation, which includes positive and negative information about your company. Once you've developed a solid reputation, you'll want to ensure people know what it is. You can do this via social media, public relations, and advertising.
Once you have a good reputation, you can improve it. Here are four steps to take:
- Monitor online reviews and ratings. If someone leaves a review about your product or service, pay attention to what they're saying. Are they happy with the quality of your product or service? Or did they have a problem with something? Take note of the comments and see if anything matches your experience.
- Respond to negative reviews. If someone leaves a negative comment on Yelp or another site, you should respond within 24 hours. Your response should address the issue raised in the comment.
Measuring the impact of online reviews
Online positive reviews have become one of the most important factors in determining whether a customer will purchase a product or service. Consumers rely heavily on online reviews to make purchasing decisions. 85% of consumers say they trust online reviews as much or even more than personal recommendations from friends and family.
In addition, nearly half of all purchases are based solely on what a consumer reads online. And according to Forrester Research, companies lose $17 billion annually due to negative online reviews. This is why measuring the impact of positive online reviews is so important.
Here are some key stats that illustrate just how powerful online reviews are:
- 90% of consumers read online reviews before buying products and services.
- 80% of consumers trust online ratings and reviews as much as personal referrals.
- 70% of consumers consider online reviews when deciding to buy.
- 57% of consumers look up information on a company before making a purchase.
How to develop a reputation marketing strategy for your business
Reputation management is about much more than just responding to negative reviews. You can use it to build positive customer experiences, too. Creating a reputation marketing plan is a great way to start thinking about improving your online presence. Reputation management doesn't have to be complicated; it's simply about ensuring that people know what you do and why they should care about you.
Here are some key elements to consider when developing your reputation marketing strategy:
- What does your brand mean to customers? How can you make yourself known as someone who provides value?
- Who are your target audiences? Remember that different groups respond differently to certain messages when you think about your audience. For example, young consumers might appreciate a fun social media post, whereas older adults might prefer a more formal email newsletter.
- Where do customers go online to learn about you? Are you listed on social media sites like Facebook, Twitter, LinkedIn, etc.? Do you have a blog where you regularly publish information? If so, what kinds of posts do you write?
- How can you provide useful information to your potential customers? Can you offer discounts, coupons, special offers, or even free samples?
- What are your best practices? How can you ensure that you're providing quality products and services? Do you have a good return policy? Is your delivery process efficient?
Components of a reputation marketing campaign
Reputation marketing campaigns are often overlooked, but they can make a big difference in the success of your brand. A well-done reputation marketing campaign can help build trust among consumers, increase sales, improve customer satisfaction and even lead to increased profits.
A reputation marketing strategy includes four components:
- Researching Your Brand – Make sure you know what makes your brand unique and differentiates it from others. What do your customers love about your brand? What don't they like? How does your brand stand up against your competition? These questions can help shape your brand identity.
- Building Trust – Once you've defined your brand, you'll want to build trust with your audience. Create relationships with your customers by listening to what they say about your brand online and offline. Try asking them directly if you're having trouble hearing what your customers think. You might even ask them what they think of your brand.
- Creating Value – Next, you'll want to provide value to your customers. Find ways to add real value to your products and services. For example, offer free shipping, discounts, or special promotions. Provide useful information on your website or social media channels. Offer exclusive deals to loyal customers. And remember, just because something isn't expensive doesn't mean it's worthless. Add value without charging too much.
- Managing Reputation – Once you've built trust and added value, you'll want to manage your reputation. Monitor feedback on review sites and social media platforms. Respond quickly to negative comments and complaints. Keep up with industry news and trends. And most importantly, keep doing what works best for your brand.
Reputation is your brand's biggest asset. It's what makes you stand out from the crowd. And, because it's so important, it needs to be carefully monitored, managed, and marketed to keep it healthy. This post outlines some strategies for doing just that.
The proactive tactics discussed here will help to distinguish your brand from its competitors and improve your image. But remember those negative reviews. They're still part of your brand's reputation. So, make sure you respond quickly and effectively to any complaints.
November 18, 2022