“It takes 20 years to build a reputation and five minutes to ruin it.” – Warren Buffett
Your reputation and the power of “word-of- mouth” are key determinants of long-term business success.
As the digital economy becomes increasingly transparent, it is impossible for poor performing companies to hide from dissatisfied customers or disgruntled employees. In the hyper-connect digital world, it matters what people say about you and your business as comments and reviews are amplified across the world with a click of a button.
Repeated research shows that almost 90 percent of prospective customers read reviews before they buy and most trust these reviews as much as they do recommendations from friends.
Online reviews are near impossible to remove from the Internet. The key question to ask when a positive or negative review is posted on the web or on social media is…..
Who is monitoring reviews and what’s the plan for capitalizing on positive reviews and responding to negative reviews?
The answer is critical because your response will have a long term impact. As always, seek out the technology, experience and expertise to manage your company’s’ reputation. A good review is always welcomed. When an unfavorable review occurs, it is your opportunity to show how you respond to customers concerns or experiences. You remember the saying “turn lemons into lemonade?” Purposeful management of your reputation is a company strength – helping ensure business prosperity for years to come.