of consumers trust online reviews
of companies with a negative reputation issue lost revenue
of people would buy more from a company with better ratings and reviews
What is your online reputation worth?
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What is reputation management & how does it work?
Online Reputation Management (ORM) involves actively monitoring mentions of your brand on websites and social media to address any negative or false comments.
Basically, the practice of reputation management works by directly responding to negative comments online, and addressing stories in the media that paint your company in a bad light — rather than deleting the comments or ignoring the story.
ORM allows you to stay one step ahead when dealing with a brand reputation crisis, so you can handle it effectively and mitigate any potential backlash. Some of these proactive practices include: monitoring brand mentions, promotion of positive content and reviews, issuing public statements addressing negative media coverage, SEO tactics and more.
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Why is reputation management important?
- 85% of consumers trust online reviews as much as personal recommendations
- Nearly 3 out of 4 consumers trust a company more if it has positive reviews
- Up to 69% of job seekers said they would reject a job offered by a company with bad reputation
- 41% of companies that experienced a negative reputation issue reported a loss of brand value and revenue
- 86% of people would pay more for services from a company with better ratings and reviews
- A one-star rating hike on Yelp can mean a 5% to 9% rise in restaurant revenue
- 58% of executives believe that online reputation management should be a focus, but only 15% actually do it