Why Online Reputation Management Is So Important (View Infographic at the bottom)
With the consumer’s buying process becoming more intricate by the day, it is becoming more important for businesses to focus on their own reputation and how customer’s perceive them. An increasing number of consumers are utilizing the Internet in more ways than ever before to find more information about both products and services that they are looking to buy/utilize as well as the company’s themselves. With the ever growing amount of resources available to consumers, more and more consumers are taking the steps needed to really become more informed before making their purchasing decisions. In this article, we will be going over some of the reasons as to why reputation management is so important.
Why Reputation Management Is Important:
1. 65% of Internet Users See Online Search As The Most Trusted Source For Finding Information About Companies and People.
This level of trust is huge. In fact, it is a higher percentage than any other offline or online source available. Therefore, if you are not effectively managing your reputation online and monitoring what search engines show about your company/brand, you are bound to lose potential business.
2. 79% of Consumers Place Equal Weight on Personal Recommendations and Online Reviews.
As you can see, an increasing number of consumers are placing the same amount of trust and weight on online reviews as they are with the traditional form of getting personal recommendations. If this is the case, it is imperative that you focus and monitor what other customers are saying online about your brand, products, and company.
3. Over 85% of Consumers Actually Use The Internet To Research Before Finalizing A Purchase Decision.
As you can tell from the stat above, an overwhelming majority of customers are actively searching online for more information that will help them make a better and more informed purchasing decision. A majority of these customers are utilizing various resources including search engines, review websites, and more.
4. Most Consumers Utilize Social Media To Decide What To Purchase.
This is becoming more prevalent by the day. More and more consumers are actively utilizing social media in order to decide different products and services to buy. Therefore, it is important to provide potential customers with the social proof that they need in order to make a purchasing decision. This comes with effective reputation management.
5. More Adults With Purchasing Power Are On Social Media Websites Than You Might Assume.
A lot of people wrongfully assume that social media is only appealing to the younger generations without as much purchasing power. The fact is, a lot of the baby boomers and older generations are actively utilizing social media just as much (if not more) and they are even more susceptible to social proofing than their younger counterparts.
6. A Majority Of Fortune 500 Company Executives Believe In Reputation Management.
Believe it or not, but 58% of Fortune 500 executives believe that reputation management should be properly addressed. However, only around 15% actively take steps to do something about it.
As you can see, reputation management has become critical in today’s competitive marketplace. Due to the overwhelming number of consumers utilizing the Internet for research during their buying processes like never before, it has become one of the most important things to focus on to achieve success.
Here are some more useful statistics reassuring you that online reputation management is a must now and years to follow. Feel free to use this infographic by copying and embedding the code located at the bottom!
Do you have any stats about online reputation management? Please comment and give your insights!