Why Reputation Risk Management Is So Important These Days
Learn who needs Reputation Risk Management and when the best time is to bring Reputation Risk Management into the picture.
People in all the entities I described above need reputation risk management at certain times. I can track any particular company just by creating an alert on it and I will know anytime someone has something less than good to say about this company. Reputation management has been around a long time, however social media seem to put this on steroids. If you offer a product or service that is been getting negative ratings this could be because of unthoughtful postings, bad feedback, false Accusations, negative product reviews or even negative testimonials. Unfortunately all of these bad reviews on just by disgruntled customers or employees. Jealous competitors or employees that have been fired have been known to wreak havoc on the company they hate so much.
When you think of reputation risk management think of somebody who decided to watch a movie and then at the end of the movie couldn't stand it, at least this is an example anyway. Tomorrow comes around, and he speaks to his buddies about how much time and money he spent on this movie. After his friends hear this from them, they might actually take his advice and not go watch the movie themselves. This is negative opinions spreading by word of mouth and is the old-school method of hurting the reputation of a product. On the Internet, someone might visit yelp or another customer review site and talk about how much they hated this movie. The problem with this, is that tons of other people will see this review online and might decide themselves not to go watch this movie or even go rent it and watch it at home.
What people say about you and your company brand on the Internet can hurt your profits which is why reputation risk management needs to be considered by any small business, medium business and even large enterprises. Large businesses can get away with a little bit more, because people online actually expect to hear some negative things about them due to the large volume of customers that they have. However a small or medium-size business, when talked badly about on the Internet is taken much more seriously by website visitors. For example if I wanted to hire an attorney the first thing I would do is search the consumer review sites and the search listings for this company and see if I could find any negative comments posted. I might search for the company name then the word scam or fraud or ripoff just to see what comes up.
If I saw one or two negative comments, the first thing I would look for is to see if there are any rebuttals to these comments. If there was some rebuttals, I would take these negative comments in stride and probably still use this company services. However, if I saw negative comments with no rebuttals I would assume that the owner was guilty of this because he didn't take the time to respond. Now here's where you have to understand that as an attorney, dentist or accountant or whatever your professional occupation is, you have the time to respond all these because you are a very highly paid professional working on their business. The key is to hire other people to do your reputation risk management and make sure that these people are successful at removing complaints.
There is a bona fide method to employing reputation risk management which is good news and the demand for the services all you get bigger as social media progresses and as more businesses come online. As a small business operating on the Internet your goal should be to improve public relations to the extent possible. With everybody on the Internet using computers reputation management is going to get much bigger much faster because companies will need to protect the reputation. The best way to deal with protecting the reputation of the company on social media is to respond to negative comments in a positive light. You can control it people say about your company, but if somebody buys your product and says that it caused him a rash, you can say that you bought the product as a repetition manager of course and say that the product left your skin completely smooth.
Another words reputation risk management is all about protecting the company you are hired to protect in this case your company. When you hire a company to perform this task for you, their job is to keep you in your brand in a positive light. Personally we don't work with all companies, because some companies have given themselves such a bad reputation that all the online reputation management techniques in the world won't do anything to save them. But luckily for us, this is just a small percentage of businesses that operate these days and most companies do their best to be honest. However it doesn't matter how honest you are these days, there's always that one percent of bad apples that are out to harm other people because chances are they're very miserable themselves.
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