According to a Business2Community article:
In today’s ecosystem, online reputation plays a crucial role in business. A bad online reputation can affect buyer decisions, long-term sales, and severely damage the company’s brand equity. Online reputation management has thus become a crucial activity for businesses to protect their growth and success.
With the emergence of social media and the multitude of forums, customers have received a new voice. Unlike traditional media, where brands indulged in one-way conversations, the web allows conversations from both sides. It empowers users to voice their opinion. While it has helped companies understand customer behaviors and manage their expectations better, companies have no power over what and where customers talk. Leaving comments, reviewing the latest products, and posting on social media has become the new norm.
This new form of communication has changed the way companies work. Businesses need to be open to feedback and criticism if they wish to succeed in this landscape. Addressing criticism openly, without being defensive is key to a successful engagement strategy.