Brand Reputation Management
Brand reputation management involves monitoring how consumers view your business and devising strategies to improve their perception of your brand's image. Currently, brand reputation mainly involves monitoring and guarding your brand's reputation on social media, in reviews, and on Google.
Reputation management aims at helping a company stay on top of public perception and address any damaging situations early. Customer perception is a crucial success factor for any brand. When a brand has a positive reputation, it inspires customer loyalty. Customer loyalty then drives revenue and encourages growth.
A negative reputation damages sales and the ability to retain customers. However, it also helps a brand manager know what their customers want and their ethical concerns. This information helps update the business protocol to meet the needs of the consumer.
Why is Brand reputation management Important?
A positive brand reputation helps your brand/ business in three significant ways.
- Increases customer loyalty: Customer loyalty is important because a lot of businesses benefit a lot from repeat customers. To retain customers, you need to understand them. Surveys indicate that 56% of customers feel loyal to brands that 'get them.' Customers also choose to stay loyal to brands that share their values.
- Improves customer confidence in your brand: Many customers prefer to purchase from large brands that they can trust. Smaller brands normally find it harder to gain the confidence of clients. However, you can build that trust in clients with brand reputation management and even turn them into loyal clients.
- Drives bottom-line growth: After subtracting the company expenses and taxes, you're left with the bottom line. Brand reputation management is one of the various ways companies can increase the bottom line.
Key focuses of Brand reputation Management
As a strategy, brand reputation encompasses several initiatives that aim to improve the brand's image and encourage growth. They include;
- Public relations: A strong public relations program positions a brand as a leader in the field. PR helps improve brand perception, manage any negative sentiments and inform customer opinion. A good PR team can secure more exposure for a brand through publications and even awards.
- SEO (search engine optimization): Sound SEO strategies will put you at the top of search engine results, where more customers will reach you. By leveraging strategic keywords and content, SEO drives more traffic to your site, thereby growing sales.
- Social media: Social media stands as one of the integral parts of managing brand reputation. It makes your business more accessible and consumer-focused.
- Website Development: A company website should be fast loading, easy to navigate, and aesthetically pleasing for customers. Website development focuses on making it easier for customers to find the information they need. It improves brand loyalty and reduces website abandonment.
- Customer reviews: Reviews greatly influence customer decisions. Surveys show that about 87% of consumers read reviews for local businesses in 2020. It means that a company with poor reviews is likely to drive away consumers. Companies that take action based on comments and feedback are more likely to succeed in attracting and retaining clients.
In the daily rush of business operations, it is easy to lose sight of the importance of brand reputation to corporate growth. The lack of brand reputation management can cause damage to a brand which might take money and time to repair.
So, it's better to start investing in your brand image today. Contact our team, to find out how we are suited to help you with your brand.