Reputation management is the practice of influencing stakeholder perceptions and public conversations about an organization and its brands. It includes monitoring perceptions and conversations, responding to reputational threats, and proactively taking advantage of opportunities to improve reputation. The key objective of reputation management is to show the positive characteristics and qualities of the organization in order to convince buyers and potential customers to buy your product or service. A good reputation is built by consistently meeting the expectations of the interested parties, dedication to its mission and the element of surprise.
The price of your products or services is set by the market and, in a highly competitive or specialized environment, you can find prices much higher than industry averages. These paid posts are great examples of reputational marketing that uses paid ads on Facebook because they show potential customers the success stories of other people who have hired you. Reputation is an expectation of future behavior based on past experiences, which means that first impressions and stakeholder experiences with your brand are critical to developing a positive reputation. Creating an effective reputational marketing strategy involves monitoring your current digital and traditional reputation and implementing practical steps to improve your image.
It combines reputation management with brand development to generate more positive opportunities and effectively creates a line of defense against negative content. Below, we'll look at concrete examples of reputational marketing so you can get inspired and get to work to promote your reputation. Reputation management does that too, but it's just one aspect of the vast umbrella of reputation management services. Instantly generate your brand's online reputation scorecard, complete with featured reviews, ratings, keyword trends, and more.
Whether you use Google Ads or promotions on Facebook or Instagram, leveraging your reputation in your ads helps improve paid marketing performance. The reason for this is price premiums, which are the relative price that a customer is willing to pay above the base price because of their perception of the brand and the reputation of an organization or product. Companies and brands should now treat customer feedback as a valuable currency that can determine their online reputation and revenue growth. By promoting your positive reputation, you establish trust in customers before they talk to a sales representative and alleviate potential customers' concerns by showing them signs of trust.
Many business leaders are already familiar with online reputation management, or ORM, but as the CEO of a reputation management company, I've discovered that few really know about reputation marketing and what it can do to increase sales and build a brand's online image. This is why companies should focus on improving their reputational marketing to generate more positive customer feedback and increase customer trust.