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 How Important is it to Invest in Reputation Management

How Important is it to Invest in Reputation Management

Reputation Management can be broadly defined as managing the reputation of a company; it could be a large company wanting to promote itself or its products or it could be a newly formed company wishing to gain visibility or create a buzz about itself.

Reputation Management can be sought for three basic reasons-

  1. To build a good reputation for a company that has just entered the market.
  2. To keep up the good image of a company in public eye, which is also called maintenance.
  3. To rebuild faith of consumers in a company, which has hit a bad patch due to negative publicity.

Why to invest in Reputation Management

In the last one year Reputation Management has become very important on the net. As people have really become hooked on to the internet with social media becoming viral, the chances of visibility of any company have increased manifolds. This visibility has its positive as well as negative impact. While there will be bouquets, there will be brickbats in equal numbers if not less.

The cost of hiring a firm for reputation management will be almost equal to that of hiring a content writer, but here one gets an experienced team to help guide and save the company from the pitfalls of the internet. Sometimes when the company tries to handle the reputation management on their own, they end up making matters worse.

Reputation Management should be treated in the same manner as branding. While branding is about the product or services, Reputation Management is about how one delivers on that promise. Both are interlinked. Companies spend years building a reputation for themselves, so it is crucial to protect their brand or product. As bloggers are taking over newspapers, it is essential for companies and individuals to keep their reputation squeaky clean online.

The vital question here would be how much people value their brand online? Probably more than the amount of resources they are willing to put together to manage it. It is always better for companies to invest in reputation management before it starts costing the company in lost sales and a tarnished online image. It will not only protect the company’s brand but also stop unscrupulous rivals taking advantage by getting negative content high up in the search results of its brand and taking its space.

Now that everyone is into blogging, many potential customers, job applicants and investors will first research a company on Google before they come to a conclusion. A company that wishes to sell its business has to make sure that it is immaculate online. For this, strategy has to be developed to feed positive content to repress the first few pages and help to cover up the negative results which could be costing a company. It will help in removing any libelous slander against the company on websites.

It is a general notion that whatever ranks on Google is true and can be trusted. Therefore, to increase visibility and positive buzz, proper planning and investment on Reputation Management should be an integral part of a company’s strategy.

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