One approach to measuring brand reputation is to analyze a company's stock prices, financial statements, and brand loyalty. Learning to measure reputation is an essential way to understand how people feel about your brand and what they think when they stumble upon your company's products and services. To answer these questions, your company must be able to identify and measure key brand reputation metrics. Here's a basic list to get you started with your reputation measurement strategy.
Local search ranking has quickly become one of the most important reputation metrics today. Your local search ranking determines where you appear in local search results whenever consumers search for a business or place near their location. For example, users will find local results if they search for “Vietnamese restaurant” on their phones. Your local search ranking is where your business appears in the list of search results that Google shows when it tries to show the type of nearby restaurant that the user wants to visit.
Local SEO software solutions often include a local search ranking checker to help you control this reputation metric. By knowing exactly where your company or brand stands online, you can boost your online reputation management strategy and find or create opportunities to attract local traffic. Sentiment analysis (or opinion mining) is a form of natural language processing that gives you information about the tone of the reactions your brand receives. Are people being positive? Negative? Somewhere in between? That's what you'll discover if you focus on analyzing sentiment.
Share of Voice checks your position on a given topic and compares it with the rest of the market. It tells you what part of the conversation is yours in your market. It can give a good indication of how well your brand's content attracts debate in your target audience and what your brand's visibility is. Here are some of the most important reputation management KPIs for measuring the success of your program.
However, despite this recognition, corporate competencies in measuring reputation often remain. Even executives with sophisticated and intelligent market research portfolios ask, “How do you measure corporate reputation?” Based on our work to help clients understand and manage their reputational equity and risk, our reputation management team has identified a number of best practices in measuring reputation. In most cases, when professionals do not know how to measure the reputation of a company, they form a pseudoeconometric model with a poor representation of variables versus factors. This is a productive and crucial time for the practice of reputation measurement, as companies around the world seek to align their portfolio of research information with the recognized importance of reputation in maintaining and driving business growth.
You won't go very far when it comes to measuring your brand's reputation if your target audience is confused about your intentions or doesn't recognize your brand. The company lost previous dollars and a lot of respect from the market due to the backlash from animal rights organizations and activists. But how do you know if all your work is having the desired impact? What KPI should you measure for your reputation management program? With the company's objectives as a backdrop, initial discussions about measurement design should focus on prioritizing stakeholders in order to identify the most important subset to include. As a customer experience manager or seller, you must ensure that your efforts have an impact.
negative. In most cases, a company's corporate reputation is more or less a measure of what people might think about it in improvised situations. This is another reason why professionals should use quantitative methods to measure corporate reputation rather than measuring other vague factors. .