Your (Online) Reputation

Your reputation is important. You worried about it in high school. You worried about it when you applied for loans for your business. You should be worried about it when it comes to how you run your business. In this day and age, people talk about you and what they say can mean more than what you have to say.

Marketing Isn’t Enough

Traditional marketing has been turned on its ear since the internet took off. Instead of positioning your business to customers the way you want like it was done in the days of Madison Avenue, now marketing is giving the message to your customers and hoping it will resonate with your customers. Why does this matter? Because the other half of modern marketing is online reputation, what your customers say about you online.

You Can’t Put Lipstick on a Pig

Of course you’re a fan of your business and that’s the message your marketing is telling, but if your online reviews say something different, chances are that potential customers are going to trust the reviews. In fact, Neilsen reported that 68% of consumers trust online reviews about services—including yours.

This probably isn’t news to you. In fact, we’d bet that when you are looking for products and services, you, too, research online and give weight to what others are saying more than the business itself.

The Invisible Costs

Your online reviews may be the first place customers “meet” you. A 2009 study revealed that, on average, a single negative review will cost you 30 customers. If your average customer spend is $200, each negative review for your business will cost you $6,000. Think about how much you are spending marketing your store. Can you afford to do $6,000 damage to your reputation?

Learn to Manage Your Reputation

While your online reputation is important, it is also important to maintain the integrity of your beverage store. Do not give in to every customer demand. A restaurant owner stood his ground in responding to a negative Yelp review and sent the internet on fire.

There is a fine line between standing up for yourself, your employees, and your business and continuing to degrade your reputation. It is important that you know how to manage each situation. Join us Thursday, March 23 at 1pm EDT to learn simple but effective ways to manage your online reviews and your online reputation.