You likely know the saying, “Failing to plan means planning to fail.” I believe all leaders know this —whether they learned it the easy or hard way — when it comes to their companies, so they map out a career and business plan. But as a consultant, investor, and entrepreneur, I’ve seen that despite the importance of online reputations today, not all brands have an actionable plan when it comes to online reviews.
According to a 2018 study of travel businesses, 97% of respondents felt online reputation management was important. A separate study found that more than 90% of 18- to 34-year-olds trust online reviews as much as a personal recommendation.
I believe one of the biggest problems today is that businesses aren’t asking for reviews often enough or effectively. In my experience, the best reviews are those you solicit from clients. But because not every review is guaranteed to be a good one, it’s important to understand what goes into creating your company’s reputation (and what you can do to ensure it’s positive).