There’s never been more competition than there is now in the marketing realm. Businesses varying in size are incorporating an array of strategies intended to help them stand out in the sea of similar businesses offering similar services to clients.
While many businesses are looking to advanced technological solutions to get the upper hand over their competition, some businesses are simply incorporating increasingly popular marketing tactics such as reputation marketing to attract prospective clients.
What is Reputation Marketing?
Reputation marketing refers to the building of a five star reputation, and then marketing it to get more conversions and customers.
- Online ratings
- Online reviews
- Community awards
- Social media comments
What are the Main Components of Reputation Marketing?
- Marketing your reputation
- Improving your reputation
Why is Reputation Marketing Important?
Consumers are much more intelligent than they were just a year ago. Instead of making impulsive purchases, consumers are putting energy into researching products or services to help guide their purchasing decisions.
This research process entails reading customer reviews and social media comments, as well as watching customer testimonials, which helps them determine if your brand is trustworthy.
- 90% of consumers say positive reviews impact their purchasing decisions.
- 88% of consumers use the internet to research goods and services before making a purchase.
- 84% of consumers trust online reviews as much as recommendations from friends and family.
The world is changing. Consumers can see the machine behind the curtain and desperately crave something genuine to connect to. Using your reputation to market and connect with potential customers can increase conversion rates and revenue by acquiring new customers more efficiently and strengthening bonds with existing customers.
To learn more about reputation marketing and the impact it’s already having on your business, contact us today!