The saying is true: your reputation does precede you. But how exactly do you define reputation? In the world of social media and online reviews, one small complaint can quickly become common opinion with enough firepower behind it.
Let this sink in: 8 out of 10 internet users in the USA say negative information they read online made them change their minds about purchasing something. A good reputation, on the other hand, can improve your business just as much, if not more. If you can retain customers, studies show people will continue to spend more money with you as time goes on. Positive online reviews also outweigh the negative comments, acting as damage control.
Think about the businesses with good reputations—Apple, Google, Amazon—their success stems from their fantastic reputations! What if a competitor is trying to badmouth you?
What if there was a small miscommunication, and one angry customer starts spewing falsehoods online? If you want your business to have a good reputation, there are a few key areas you can focus on. Below are our best tips for establishing good repute.
Much like people, businesses can easily be misunderstood. Such estimation when favorable; good repute; good name. What somebody is known for. A widespread ascription of a characteristic or trait to a person or thing. The general opinion or judgment of the public about a person or thing.
Estimation in which a person or thing is commonly held, whether favorable or not; character in the view of the public, the community, etc. Reputation, thus has much to do with the personality traits or qualities that come to mind when a person thinks of a person, a business, or an organization.
As mentioned above, reputation is what people believe about a brand, person, company, product, or service. Belief is one of the strongest forces of humankind. The products of belief have built civilizations, created culture, and sparked genocide. Belief dictates behavior. A consumer who believes that a company is a scam will not purchase their products or services.
A person who believes that a politician is corrupt will not vote for him. A neighbor who believes that you are murderous will not befriend you. Brands have reputations as well. So do products and services. Reputation is complicated.
Its definition may be straightforward, but its manifestations are labyrinthine. Reputation shapes how people behave, what people buy, how people think, and why people act the way they do. This reality leads us to the second consideration of this article — the importance of reputation. Reputation is important. That much should seem obvious. But why? What are the advantages of having a sterling reputation over, say, having an abysmal reputation?
Does it really matter in the grand scheme of things — wealth, health, and the pursuit of happiness? As it turns out, yes. It matters a lot. Pursuit of happiness? Reputation is important for individuals, because a favorable reputation gets us what we want in life— safety, friends, self-esteem, and happiness. When those needs are fulfilled, we seek to fulfill other needs such as security and safety. Beyond this, humans seek to satisfy psychological desires — love, intimacy, and prestige.
In summary, a reputation is important, because a good reputation provides human fulfillment. In a business context, reputation is just as important, but the endgame is different. Most business-minded people concur that the purpose of a business is to maximize profit, a la the Friedman Doctrine. Businesses with a good reputation make greater profits. Using Yelp star ratings as a reputation metric, Harvard researchers have determined that higher star ratings on Yelp predict higher revenue.
This is just one example of the significance of business reputation. There are legion ways that businesses and individuals metricize and display their reputation. Consumers respond to that reputation by making buying decisions for or against the company.
As a case in point, the conflagration of a business like Enron can be associated with a reputational crisis. People and businesses interact with other people and businesses based on how they themselves want to shape their reputation.
Customers, as individuals, are interested in upholding their personal reputation when they patronize businesses or engage with other individuals.
For example, an individual may want to protect her reputation as a kind humanitarian by not doing business with a restaurateur who serves meat that has been raised in inhuman conditions. Another individual may vociferously oppose a politician whom he thinks has a poor reputation, because that individual is interested in upholding his own reputation.
Reputation, then, is a two way street. We serve our own reputation based on the reputation that we hold of other individuals or businesses. Nearly every organization has a reputation. And that reputation is one of the most important attributes about them. In the section above, I made the point that reputation is a belief. Beliefs dictate behavior, and the belief in a reputation is a force to be reckoned with.
However, his statement, gleaned from years of business experience, is true, and highlights the importance of reputation. Something that takes that long to build has to have some value and significance. We know that. We tweet. We swipe. We tap. We message. However, in the context of reputation, news is poised to spread especially fast. He lambasts the case as without evidence, an unfair trial, and damaging for the American reputation. Furthermore, checking online IP reputation services reveals that they have been used by malware operators in the past.
Pastor Gaylard Williams earned a good reputation among his evangelical ilk. He had already let his reputation sour—and his country down—so he paid up.
Particularly was this the case with Davout, who since had suspected that Berthier desired to ruin his reputation. He was a bookbinder previous to going upon the stage; and acquired a high degree of reputation as an actor. She has painted several portraits of her mother, which would have made for her a reputation had she done no others.
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