Reputation Marketing News: Reputation Affects Businesses & Employers
Experts who offer reputation marketing insights state that a great online and offline reputation is vital for business success. According to an article posted at Expertise.com, (@ExpertiseLocal) simply put, a bad reputation translates to poor sales and low profits, while a good reputation can help ensure a thriving business.
Listed below are some of the ways existing reputations can affect the continued viability of businesses, as well as the prospects of employers and their applicants.
How Reputation Affects Businesses
Business owners should heed the following statistics: around 88% of consumers read reviews about products or services before making purchases, and around 79% of consumers consider online and personal recommendations before finalizing their purchases. In other words, a single negative review can impact your business by more than 80%.
If you were a small business owner who largely depended on new customers rather than repeat buyers, your business’s continued viability will literally depend on every good review that you get. Unfortunately, small businesses can lose a large percentage of their customers with just one bad review.
How Reputation Affects Employers’ and Applicants’ Prospects
It is important to remember that it is almost impossible to erase content that has been posted online. It doesn’t matter if the content is true or false; once uploaded it is there for everyone to see. According to Bigmouthmarketing.co, a good reputation will also attract more talented applicants to a company that is looking to hire (which means the company will be getting skilled staff that can provide quality services to customers).
Employers can also assess applicants by examining their online reputations. Around 70% of employers said that they refuse applicants if they find any negative content about them online. Besides it really wouldn’t look too well for your business if you accept an applicant with a questionable reputation, and some of your clients or investors might become wary of doing business with you.
Employers may get an idea of the applicants’ character by examining their social media accounts. Such online information will allow them to determine if the applicants will be a good match for their company or not.
This is just the tip of the iceberg. Subscribe to reputation marketing news sites, like Marketing Digest, and get more vital information.
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