According to a Business 2 Community article, over the years as more new technology emerges and customers are able to easily do their due diligence, the number of companies not looking out for their customer’s best interest is on a decline. They are going out of business for their lack of or limited online reputation. Along with that, companies who are not leveraging this new technology are taking a dive as well. How can startups and large enterprises compete in the same space?
The great Warren Buffet once said, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
Long gone are the days where people could start a business, create a few videos and hide behind their website to make money. In today’s fast evolving world of business, the online sales cycle has more steps because consumers are more guarded. The more you are able to reach your desired audience the more likely they are to buy from you and not your competitor.
What Is Reputation Marketing?
Aside from traditional marketing, an emerging trend in digital marketing is known as reputation marketing. We’ve all heard of reputation management. You find an agency online who say they will manage your reviews, protect your brand’s presence when a customer Google’s the brand name and provide positive content that will overpower any negativity.
Where reputation marketing differs is that it’s a more proactive approach. By investing in building your brand’s authority, you become the source that people trust.
Building your brand’s authority is different for each business and market.
The best way to define brand authority is your brand’s perceived level of expertise, and with it comes many great benefits. It takes time to build, and there are no shortcuts, which is why it is a highly sought method in the digital consulting field.