Brand reputation is everything online. Ensuring that your reviews and ratings are managed carefully, and that your online reputation is the best it can be ensures that all of that work you have done on awareness and conversion is not wasted as a result of a single bad review. Techwitty’s brand reputation management software allows your brand to manage its entire online presence in one location, in real time.

In this day and age of business, increasing access to the internet allows your competitors to more easily see what you are doing with your products. This means any unique differentiators your products have are quickly and easily replicated, increasing competition, and making it harder to differentiate your business from your competitors.

The ramifications of this include a smaller customer base, higher acquisition costs per new customer, and higher research and development (R&D) costs for the development of newer products. This leaves you in a rat race constantly having to try and create a level of differentiation.

One way however, that you can achieve a sustainable competitive advantage that your competitors can’t copy is to develop a high level of brand awareness and an impeccable brand reputation.

Picture this, you enter a convenience store in the middle of nowhere. You’re thirsty for a soft drink, so you go to the fridge and there are four soft drink choices. The selection includes an unknown cherry drink, an unlabeled chocolate drink, a home brand cola and a Coca Cola.

If you took a survey of 100 people of which drink they would buy, it is obvious that Coca Cola would be the highest choice by far.

The reason as to this purchase decision bias is that Coca Cola has built their brand reputation to be known as a reliable, tasty drink that provides the same experience every time.

The reason why the others would be ignored is because the unknowing nature draws questions such as whether the product will taste nice, whether they are safe to drink, and whether the customer will enjoy the product.  All these thoughts put strain on the customers decision-making process. The fact that it is more mentally straining to make a choice is the reason behind their demise of popularity.

 

So, what is Brand Reputation?

Brand Reputation is largely driven by the thoughts and opinions that people have about a business.

The reason that good brand reputation is a competitive advantage is that it short cuts the decision-making process in the customers mind because they know that your product is reliable, is a good product and that it is popular with other customers. The key here is ‘trust’. Trust is basically the one thing that cannot be simply purchased on the internet. Trust must be earned. As such, when a customer is able to find your brand, and then gets to the point of making a purchase decision, Trust will always win.

If you have negative reviews on review sites, a low star rating on Google, and poor reviews on directory comparison sites such as trip advisor, and/or Google my business for example, then all of the money you have spent generating awareness with a customer, and then getting the eyeballs to your product or service online can ultimately be wasted with one negative review or rating.

So the benefits of managing your brand reputation are that competitors cannot copy your brand reputation and most businesses are neglecting to create their own, allowing you to get an easy leg up.

Managing your brand reputation is a great way to increase new and recurring revenue, to grow your business, and a solid brand reputation will ensure long-term business sustainability.

Find out more

Techwitty is a digital marketing agency that provides both do-it-yourself and done-for-you brand reputation management solutions for your online presence. If you are interested in managing your brand reputation, click here to find out more information.