The public’s emotions and ideas formed from the initial purchase until after a sale are the basis of a brand’s reputation. Other factors can include earning great reviews or recognition as a top place to work.
Brand reputation is one of the most important assets a business can have. It encompasses the quality of a brand’s products and services to how they treat customers and employees. Effective brand management instills trust and loyalty in existing and potential customers. Unsurprisingly, a brand known for its positive customer service attracts more prospective business. People want to shop where they feel welcome and where the quality meets expectations.
The benefits of building brand reputation include:
- Higher ROI
- Brand Recognition
- Customer Loyalty
- Competitive Advantage
Does Brand Reputation Equate To Higher Sales?
Yes. A positive brand perception promotes trust between the brand and the customer. Trustworthiness is the most important attribute a brand can have. 8 in 10 consumers prefer to buy from brands they trust.
Trustworthiness combined with a positive customer experience cultivates brand loyalty. Not only do loyal customers tend to make additional purchases, but they’re more willing to recommend a brand to others. A recent study found 82% of social media users were more likely to buy a product based on an online recommendation.
The Basics of Brand Reputation Management
Reputation management is how a business controls and improves how the public perceives its brand.
The pillars of reputation management include:
- Responding publicly to criticism
- Welcoming feedback
- Engaging your audience
A reputation management tool will alert you to online brand mentions in real-time, allowing you to interact and engage with comments, posts, and reviews as they go live. Managing customer feedback will enable you to get ahead of possible misconceptions or issues regarding your brand to present meaningful responses and solutions. Taking the time to respond to customers lets them know their needs are understood, and their voices heard. By maintaining relationships with customers, your business will increase sales and gain consumer trust and respect. Therefore, transforming perceptions into actionable steps toward brand optimization.