Online Reputation Marketing is Born

As of the third week in June there is now a marketing crisis facing millions of small businesses in this country and around the world and it has to do with online reputation. Surveys clearly show that for consumers, the online reputation of a company has become one of the most significant purchasing variables for consumers across the Globe.  As a result of this trend, Google is now putting reputation results first when searching for a specific company by location. The companies that proactively adapt to this trend will be the new leaders in the next 12 to 18 months.

New market leaders will almost immediately begin to emerge in every niche, in every town, in every state and every country in the world in 2012. Those new leaders will be the companies, large or small, that recognize what their customers want to see. A five-star reputation according to other consumers. Those that ignore this trend will fall under the boots of savvy competitors recognizing this undeniable trend.

Our friends at Google have made certain that this will occur and in fact is already occurring. Watch:

I predict that this change in the Google search algorithm represents what will eventually go down in history as a change as significant as bottled water and the Internet itself.  Anyone older than 20 years of age can remember when neither existed. Now they are everywhere woven into the fabric of our existence.

What the importance of the company’s online reputation to consumers means for businesses

This trend and this Google search change now means that everything businesses have been doing now doesn’t work if you have a poor or non existent reputation. A bold statements I know, but stay with me!

Before June of 2012:

  • We marketed our product and service first, then maybe, if at all, considered our online reputation.

After June of 2012:

  • We must market and manage our reputation first and then market our product and service, because consumers are checking!

Here is the crisis:

Most if not all marketing dollars are spent on media represented by line 3 or lower

The Importance of Online Reputation

As you can see in the this survey by Nielsen regarding trust in advertising, consumer opinions posted online are second only to recommendations from personal acquaintance and ahead of all of the forms of media.

To further compound the crisis this graphic shows us the consumer trend toward checking online reputation before buying.

 

Consumer trend toward checking online reputation

Here is the bottom line:

  • We measure marketing by it’s return on the investment.
  • This data tells us that if we have a bad or nonexistent online reputation $70 of every $100 of marketing money is wasted money.
  • In short, a bad reputation cancels out our costly marketing message.

Here is the solution:

  • Spend a percentage of your marketing budget to create a five-star reputation
  • Market that reputation across the Internet
  • Manage that reputation moving forward through time
  • Create a reputation culture within your business

Now that your businesses reputation is naked before the world what are you going to do about it?

We saw this coming in January. When you are ready to talk a about strategy to double the value of your existing marketing budget without spending any more than you are, just call.

(413) 642-2369

In the mean time, know what people are saying about your business online with our free reputation report.

Topic: online reputation marketing