Experts say that a brand which has the ability to satisfy customers’ needs and has lower risks has the highest demand by the consumers.
Negative customer reviews and the speed at which such information spreads on online platforms have made it necessary for businesses to build a strong brand.
They note that a business brand should represent values, ideas and personality.
According to them, the brand should create a variety of memories in customers’ mind which eventually becomes rooted when the customers’ satisfaction is achieved consistently.
However, with technology controlling many business functions, the art of brand management has shifted from the traditional platforms like print media, radio stations and televisions to online platforms.
Experts say that digital technology is presently creating better ways to do the same things in an affordable and faster manner.
A report by Cognizant observes that in today’s digital age, there are available channels and voices — on both social and traditional media platforms — that contribute to shaping a brand’s reputation.
The report titled, ‘Authoring a Brand’s Online Reputation,’ notes that brand reputation management has evolved because it presently cuts across both offline and online media.
According to the report, the objective of brand reputation management is to build and establish a name for a new business; maintain the good reputation of an established business coupled with the use of content marketing and promotional tactics to resuscitate a brand.
The impact of negative online sentiment weighs heavily on sales and press coverage, and also impacts a brand’s ability to attract the best talent.
Online market has a wider reach
It says that the emergence of social media has enabled information to be generated, relayed and consumed almost instantly.
It adds that opinions are transmitted by many Web users in real time, whether good, bad or ugly; making all opinions to be easily shared and open for discussion.
It says, “If your organisation makes someone unhappy in the virtual world, chances are that it will be relayed to many others in no time — the same is true for positive word of mouth as well.
“However, there is a higher propensity for negative sentiments to travel faster and further. Think of the last time you researched a product or service and wanted to know all about it before you even started a conversation.”
Utilising online conversations to build reputation
Research reveals that 85 per cent of Web users seek others’ opinions before buying a product or service. Moreover, approximately 92 per cent of consumers trust their friends and family more than ads, and are likely to make a purchase based on these personal recommendations.
Cognizant says that digital influencers are very powerful entities within a community, whose strong online presence exudes credibility across an industry.
According to the report, such users may express elation or anguish with a brand on blogs or forums, post comments on your organisation’s social page or a news site, take part in a wiki, express opinion on a consumer platform or simply create a page on a social network to discuss products/services.
“The digital word of mouth is published and consumed at the speed of physical world conversations within the comfort of homes, offices, etc. A brand may refrain from conversations, but this leaves its reputation completely in the hands of external parties — which may not work in its favour,” it adds.
Participation in social media promotes businesses
The report reveals that nearly two-thirds of companies affected by negative consumer sentiment ignored the charges and suffered the consequence of reputational damage.
Among brands that choose to be part of online conversations, it says most focus on publishing marketing content that is of little interest to the consumer or influencer in the community.
It observes that presence on non-relevant channels or a complete absence from social media damages a brand’s online reputation as well.
Address rumour and consumer issues
Research suggests that nearly 60 per cent of conversations occur on social forums that provide an informal setting to exchange views. However, a large portion of this commentary is not always based on facts and often tends toward rumour or hearsay.
Roughly 44 per cent of small and medium-sized firms experience allegations or rumours about their company on the Internet, through search or other means.
The report notes that since content published online is recycled on multiple forums over time, it runs a risk of being distorted.
It says, “At best, members of the social group themselves moderate conversations and keep rumours at bay. However, this is not always the case. Brands big and small are susceptible to half-truths and outright lies that can proliferate in the always-on digital world.”
Build reputation proactively
The report notes that reputations are built and tarnished at the speed of conversations, as such, brands should be ready to claim positive reputation and prevent a bad reputation from emerging through inattentiveness.
It says a good reputation is often taken for granted and remains unclaimed.
It adds, “Of the two, it is easier for an organisation to own and manage a good reputation. Proactive reputation management helps leverage the positive word of mouth that abounds online and can be applied to enhance the social capital of the brand.”
