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Online Reputation in the Digital Era

According to a study done by the World Economic Forum, reputation accounts for 25% of a company’s market value. Today almost half of the world’s population uses the internet, and an increasing amount of people are more likely to check out a company’s online reputation before deciding to do business with it. In an era where the internet has spread pervasively, having a positive reputation online can have a huge influence in attracting new consumers. This is so important for companies that a new market has emerged for it. There are now online reputation management companies and online review management companies.

One example would be Status Labs, a reputation firm for businesses. Status Labs is a company that offer services in online reputation management, public relations, search engine optimization, crisis response, social media marketing and content marketing. Each of these services are designed to adapt to the needs specifically related to online platforms, such as social media, blogs and search engines.

Industries like Status Labs are devoted to developing a client’s online presence through a variety of techniques. Other features of a reputation management platform can include analysis of trends and competition, an increase of generated positive reviews, and real time insights to track user opinions and particularly useful keywords for a company.

Much of the conversion rate from potential customers depends on positive feedback about the company. The study mentioned earlier found that positive reviews influences at least 70% of potential customers. It also found that companies with the highest reputations had 100% higher shareholder returns than competitors.

Online reputation management firms also inform clients on how to identify negative reputation signals. This could be a higher volume of negative feedback in comparison to competitors, more positive feedback received by competitors, no insightful dashboard for the marketing team, and a decrease in sales. There have been examples of companies who have suffered because of a failure in online reputation management. Hiring the right online public relations firm can assist a company in avoiding a disastrous reputation.

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