With so many consumers researching products and services online, the importance of online reputation management for businesses is undeniable.
“Reputation management is ‘the new black’ in corporate strategy, according to Bruce Rogers, Forbes magazine’s Chief Insights Officer. ‘In their fight to increase revenue, grow market share, increase the stock price, attract and retain the best talent, and secure their license to operate, companies are turning their focus on their reputation,’ he writes.”
This makes sense, when you consider that almost half of a company’s net worth “is tied up in intangible assets like reputation and brand equity,” says Digimind. The researcher also finds that more than four out of five marketers believe that building consumer trust will be businesses’ top priority in the near future – and they’ll need agencies that offer those services.
“Companies are already seeking out online reputation management services in droves, but few agencies offer it at this point,” said Kevin Rowe, Founder & CEO of Rowe Digital. “It’s a big opportunity for ccompanies and it’s easy to explore into if you have a great tool offered by a great provider.”
Rowe offers these tips when seeking out a tool or service to assist with online reputation management:
- Make sure to choose an enterprise-level online reputation management tool as opposed to a tool that is intended for personal online reputation management.
- Select a tool that blends automated analysis with human analysis. Automatic, algorithmic analysis is much more efficient for most tasks, but human analysis is an extremely important piece. Tone, language complexities, and other aspects of sentiment analysis cannot be consistently and accurately interpreted by computers. An experienced individual must take the final step in determining the online health of a brand’s reputation and providing accurate reports. This service should accompany a subscription to the tool.
- Choose an intuitive tool that is simple to use. You should be able to log on and easily view reports and key metrics.
- Ensure the tool makes it easy to simultaneously monitor multiple brands, keywords, companies, and competitors. Otherwise, you will eventually need additional tools and your system could become cumbersome, poorly integrated, and costly.
- Pay attention to price. Choose a tool that is cost-effective but robust. (Link to pricing) You should be able to make a healthy profit while providing clients with the online reputation management services they need to succeed in today’s global economy.
Any company can improve their bottom line by performing online reputation management, so don’t wait. If they haven’t already, your customers will soon be asking you about these services. When they do, be ready.